Analytics

News, Trends, & Analytics 16.07.2020

The vaccine will save traders

Today, the focus is on Apple’s victory in court, the strong quarter for Goldman Sachs, as well as the success in creating the vaccine against COVID-19.

 

News

Apple has won a lawsuit against the EU and will not pay Ireland over 13 billion euros in tax. Affects Apple


Moderna Inc., an American company, has made significant progress in developing a vaccine for COVID-19. Affects S&P 500


The U.S. revoked Hong Kong’s preferential trading status along with other sanctions. Affects Hang Seng


Goldman Sachs financial results were better than the market expected. Affects Goldman Sachs


The U.K.’s Consumer Price Index rose 0.6% year on year with a forecast growth of 0.4%. Affects GBP

 

Calendar

11:45 GMT

The ECB will decide on the interest rate. Now the rate is 0% and experts do not expect it to change. However, the event may cause an increase in the volatility of EUR trading.


12:30 GMT

The U.S. Core Retail Sales index will be published. Forecast: an increase of 5%. If real data is lower, USD may decline.

 

Technical Analysis

S&P 500

The American company Moderna Inc. spoke about the positive results during the test of the vaccine from COVID-19. In all 45 subjects, the vaccine produced the necessary antibodies to overcome the virus. Against this background, the stock market returned to growth.

Nevertheless, the level of 3115, where not only the Fibonacci level, but also SMA with a period of 20, can become a safe zone for buying an asset.

Basic Dollar Index

The American dollar index has come to an important level of support. For this reason, a trend reversal of the US dollar is possible.

AUD/USD

Technical analysis of the US dollar index showed a high probability of a bullish trend on USD. AUD/USD may succumb to general sentiment and begin to fall. In addition, the asset is near its resistance level.

 

AUD/USD on this day in history

  • Since 2000, July 16th has been a trading day 13 times.
  • On 53% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.7%.
  • The downward trend was limited to 1.69%.
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