News, Trends, & Analytics 18.07.2019

The US Congress will study the project Libra

The IMF sees the Russian economy slowing, Bank of America Corp astonished with profits, & Facebook’s Libra project faces more scrutiny.



A senior official said on Wednesday, the Bank of England’s balance sheet is likely to roughly halve to around 275-375 billion pounds when the time comes to reverse quantitative easing. Affects GBP

Bank of America Corp outshined its estimates for quarterly profit, but warning signs also emerged with JPMorgan, Citigroup and Well Fargo reporting a dip in margins, fanning fears that interest rate cuts could further pressure profit. Affects the S&P500

The International Monetary Fund reduced its forecast for Russian economic growth in 2019 to 1.2% from 1.4% after a weak first quarter, encouraging broader reforms for stronger growth. Affects the RUB

Consumers prices in the eurozone increased by slightly more than initially forecast in June, although headline and underlying inflation rates were still below the improvement that ECB policymakers are seeking. Affects the EUR

Facebook Inc faced more questioning on Wednesday by U.S. lawmakers over its planned cryptocurrency, senators from both parties condemned the project, saying the company had not proven it could be trusted. Affects Facebook



08:30 GMT

The British Retail Sales (MoM) for June will be published. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity. Affects GBP.

12:30 GMT

The Philadelphia Fed Manufacturing Index for July will be released. These rates the relative level of general business conditions in Philadelphia. Affects the dollar.


Technical analysis


The executive director of Facebox was greeted by the US Senate Banking Committee. Politicians think that the Libra project can become a money-laundering tool. Against this backdrop, cryptocurrencies are rapidly declining.

In addition to the fundamental reasons for the decline, the asset received a portion of pessimism from its Fibonacci levels. The price has fallen below 9600, so the downward trend may continue to 7100.


The asset reversed away from its resistance level at 0.69470. What happened can lead to a trend reversal. We expect downward acceleration if it drops to 0.69160.

Dow Jones

The graph has formed a Triple Top reversal pattern. For this reason, we recommend that you follow the downward trend in transactions.


DAX on this day in history

  • Since 2000, July 18th has been a trading day 14times.
  • On 50% of those days, the asset ended with growth.
  • The maximum reinforcement range was 1.78%.
  • The trend down was limited to 2.02%.
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