Analytics

News, Trends, & Analytics 09.07.2020

Mortgage applications are growing in the US

Today, the focus is on U.S. threats to Hong Kong, rising unemployment in Switzerland, as well as a recovery in the US mortgage market.

 

News

In July, the number of people applying for mortgages in the U.S. grew by 2.2%. Affects S&P 500


The U.S. is considering putting pressure on the Hong Kong dollar. Affects Hang Seng


In Switzerland, the unemployment rate rose slightly. Affects CHF


The head of the Federal Reserve Bank of Cleveland, Loretta Mester, announced the “equalization” of economic activity in her region. Affects USD


The U.S. Department of Energy expects a drop in oil production to a 19-year low. Affects Brent

 

Calendar

12:30 GMT

A report will be published on the number of initial applications for unemployment benefits in the United States. Growth is projected at 1.375 million. If the real value is higher, USD will receive a negative impulse.

 

Technical Analysis

ETF U.S. Real estate

Despite the expected reduction in mortgage applications in the US, the July report showed an immediate increase of 2.2%. Statistics show the resumption of consumer activity, which is so necessary for the country’s economy.

If the positive dynamics in the mortgage lending market continues, and the situation with COVID-19 does not develop into a new wave, the probability of ETF U.S. Real Estate growth is high. In addition, the asset is being traded at the lower boundary of the ascending channel.

EUR/JPY

The asset’s chart formed two consecutive “Pin-bar” candlestick patterns. Against this background, the probability of falling quotes is growing.

NZD/CHF

The currency pair has formed a similarity to the “Triple Top” figure, which may indicate an imminent decline in the asset.

 

NZD/CHF on this day in history

  • Since 2000, July 9th has been a trading day 14 times.
  • On 50% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.62%.
  • The downward trend was limited to 0.93%.
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