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Analytics

News, Trends, & Analytics 24.07.2019

Britain has finally gotten a new prime minister

The IMF has concerns the global economy could slow more, Coca-Cola C. sold more zero sugar, & Boris Johnson will replace Theresa May.

 

News

Boris Johnson will replace Theresa May as prime minister after winning the leadership of the Conservative Party, the Brexiteer who has promised to lead Britain out of the European Union with or without a deal by the end of October. Affects GBP


Oil slipped to around $63 a barrel on Tuesday as concerns faded for now that rising tensions in the Middle East would escalate and hit oil supplies, compounding the impact of a weaker demand outlook. Affects Brent


Warning that further U.S.-China tariffs or a disorderly exit for Britain from the European union could further slow growth, weaken investment and disrupt supply chains, the International Monetary Fund on Tuesday lowered its forecast for global growth this year and next. Affects the FTSE100


Coca-Cola Co (KO.N) beat second-quarter earnings expectations and raised its organic revenue forecast for the full year thanks to higher sales of its zero-sugar sodas, soft drinks with new flavors and ready-to-drink coffees. Affects Coca-Cola


Potentially signaling continued development of a submarine-launched ballistic missile (SLBM) program, North Korean leader Kim Jong Un inspected a large newly built submarine, state news agency KCNA reported on Tuesday. Affect the Gold

 

Calendar

During the day

The U.K. Prime Minister May Speak and address his plan for the future of Britian with regards to BRexit and beyond. Affects GBP.

 

14:00 GMT

The U.S. New Home Sales for June will be relaesed. This report represents the number of new homes sold in the U.S. as a signal of the strength of the economy.

 

Technical analysis

GBP/USD

After a long decline, the British pound has a chance to bounce back. The arrival of the country’s prime minister, Boris Johnson, can bring clarity to the Brexit process and investor confidence.

This pair has strong level of support at 1.24000, so we expect a trend reversal.

USD/NOK

This asset completed the formation of a Double Bottom pattern. Quotes have already broken the resistance level 8.67. It was a signal to buy the asset.

GBP/JPY

The asset has broken its trendline and is probably going to continue to decline.

 

GBP/USD on this day in history

  • Since 2000 July 24th has been a trading day 15 times.
  • On 57% of those days, the asset ended with growth.
  • The maximum reinforcement range was 1.42%.
  • The trend down was limited to 0.59%.

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