News, Trends, & Analytics 11.08.2020

European Markets Strong Despite US/China Tensions

The FTSE in London and the Stoxx 600 indices were still up for the day driven by economic stimulus news from both the U.S. and Europe. However, counter sanctions announced by China against 11 U.S. citizens dampened European market gains slightly.


14:00 UTC

The U.S. Job Openings and Labor Turnover Survey (JOLTS) will be released for June. The survey gives an indication of the need for workers in the market. Increased demand for workers indicates strong market conditions, but also can lead to inflation due to wage increases. Previous report for May was 5.4 million job vacancies.

Assets for trading: USD/CAD, EUR/USD, Gold


China retaliates with sanctions against a group of U.S. citizens. Affects Hang Seng Index

President Trump bypasses Congress with relief measures over the weekend. Affects US Stocks and ETFs

Saudi Aramco announces “partial recovery in the energy market”. Affects Brent oil

Chinese tech losses due to China/US trade dispute spills over to ecommerce. Affects Alibaba

Technical Analysis

Hang Seng Index

Following recent panic selling due to Chinese/US trade disputes, the Hang Seng has found solid resistance around the 24414 level. Look for upward movement to begin especially if there is any positive news on the matter.



Profit takers dominated the gold market on Friday, but the economic data that has supported gold’s continued rise over the past 8 months hasn’t changed. Look for gold to make another charge at 2100 this week or next giving it good value for a Buy position now.



President Trump’s decision to bypass the U.S. Congress to push economic relief forward in the U.S. illustrates his determination to get the U.S. economy back to doing what it does best – buying. As such, the dollar immediately gained ground on the Euro and will likely continue to do so.



Financial News on This Day in History

1945 – Japanese stock exchanges close amid air attacks from Allied planes. Trading wouldn’t resume in Japan until four years later in 1949.

1971 – Pax World Fund becomes the first “socially responsible” mutual fund by investing only in companies that meet a social and environmental criteria.

Related posts

News, Trends, & Analytics 26.07.2019

The newly elected prime minister of Great Britain promised to make the country “great again”, and he urged the parliament to prepare for a tough Brexit scenario.
Official Olymp Trade Blog