Today, the focus is on a major Ebay deal, rising unemployment in Hong Kong, and progress in negotiations at the EU leaders’ summit.
The EU leaders reached a number of agreements on the regional economic stabilization fund, which caused an increase in demand for the European currency. Affects EUR
Ebay sells its advertising division for $9 billion to Norwegian group Adevinta. Affects Ebay
Starbucks began selling drinks to Chinese citizens on the Taobao marketplace. Impacts Starbucks
Hong Kong’s unemployment rate surpassed a fifteen-year high. Affects Hang Seng
ECB officials are revising the forecast for the EU’s GDP for the better. Affects EUR
Core Retail Sales for Canada will be released. Growth is forecast at 12%. If the real data is lower, CAD may decline.
The optimism of the European currency was due to market expectations for agreeing on the details of the EU stimulus fund, which will spend €750 billion for its purposes. However, the time has not yet come to resolve all differences. Therefore, EUR/GBP has sharply changed the direction of its trend.
According to technical analysis, the asset will continue to decline to the upward support level. Confidence in the direction is underpinned by declining price highs.
Basic dollar index
Pay attention to the US Dollar as the currency is in a very profitable place to buy. The dollar index is trading at annual lows.
To implement the idea of investing in the growth of gold, you can choose NZD/USD, which is suitable for sale. The pair has been near the resistance level for a long time, which caused high interest among the bears.
NZD/USD on this day in history
- Since 2000, July 21st has been a trading day 13 times.
- On 46% of those days, the asset finished trading with growth.
- The maximum strengthening range was 1.14%.
- The downward trend was limited to 2.29%.