Analytics

News, Trends, & Analytics 10.07.2019

Sales of new products from Apple may disappoint

BMW is driving quickly toward the electrics, The EU is forecast to keep growing for two years, and then?,  & Apple maybe falling from its traditional profits tree.

 

News

BMW will begin building its new electric Mini at its British factory from late 2019, with the first vehicles reaching customers from spring next year. Affects BMW


Valdis Dombrovskis, the European Commission member in charge of the euro, said that Brussels forecasts all EU economies will grow this year and next, but risks are rising. Affects the EUR


The European Union on Tuesday urged Iran to reverse its scaled-up uranium enrichment that breaches a cap set by the nuclear deal, a move that could mean the return of all economic sanctions on Tehran. Affects Brent


The cost of insuring Turkey’s sovereign debt risk jumped on Monday after President Tayyip Erdogan sudden weekend dismissal of the country’s central bank governor. Affects the TRY


Rosenblatt Securities has downgraded its rating on Apple from neutral to sell. Analyst Jun Zhang argued that the tech titan “will face fundamental deterioration over the next 6 to 12 months.” Affects Apple

 

Calendar

08:30 GMT

The British GDP (MoM) will be released. It measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy and is the broadest measure of economic activity and its health. Affects the pound.


14:00 GMT

U.S. Fed Chair Powell Testifies. Federal Reserve Chair Jerome Powell is to testify on the economic outlook and recent monetary policy actions before the Joint Economic Committee. Affects the USD.


The BoC Interest Rate Decision will be announced. The interest rate decision will affect the CAD.


18:00 GMT

The U.S.’s FOMC Meeting Minutes will be published. These minutes detail the insights regarding the FOMC’s stance on monetary policy. Affects the USD.

 

Technical analysis

Apple

Investment company Rosenblatt Securities think that Apple’s share will cost $150. The main reason for the forecast is the weak sales of future new products.

In the case of the breakdown of the Fibonacci level ($198), the downward movement may continue to 187.

Bitcoin

The recent positive trend will finish if price downgrades below 12,000. If the price holds above 12,000, traders will actively buy because they will see the “head and shoulders” pattern.

GBP/CAD

This asset has shown a bullish divergence. Its price may turn on level 1.63250.

 

CAD/CHF on this day in history

  • Since 2000, July 10th has been a trading day 14 times.
  • On 64% of those days, the asset ended with growth.
  • The maximum reinforcement range was 1.03%.
  • The trend down was limited to 0.68%.

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