Analytics

News, Trends, & Analytics 24.07.2020

The risks are growing. Will it help the dollar?

 

Today, the focus is on the Twitter report, the weakening of securities regulation in the EU, as well as the growth of claims for unemployment benefits in the United States.

 

Calendar

14:00 UTC

The report on the volume of new home sales in the United States for June will be published. The predicted value is 700 thousand. If the final figure is lower, the USD will come under pressure.

Assets for trading: AUD/USD, USD/CHF, or ETF U.S. Real Estate.

 

News

Twitter reported a record for daily usage. Affects Twitter


EU officials said a trade deal with the UK would not be agreed on soon. Affects GBP


The Hong Kong Central Bank said the newly introduced national security law does not affect the functioning of the city’s financial system. Affects Hang Seng


Europe is preparing to loosen securities regulations. Affects DAX


In the U.S., the number of applications for unemployment benefits is growing again. Affects USD

 

Technical Analysis

Basic dollar index

Deteriorating relations between the United States and China, the specter of unemployment, and the rise in the incidence of COVID-19 in Brazil, the United States, and India may become the main factors behind another economic slowdown.

Investors are still buying gold, but sooner or later fear must reach its limit, as gold has renewed the maximums of the last 8 years. In such a situation, it seems logical that speculators flee to a stable US dollar. The American currency index can stop the decline in the region of 94, where the descending support level passes. After that, the bulls should activate.

AUD/CHF

A “Pin Bar” on the daily timeframe, as well as declining highs, indicate an impending bearish trend. Be prepared.

GBP/AUD

A short-term bullish trend towards 1.79500 is possible. A descending resistance level is passing in the area of this reference point.

 

GBP/AUD on this day in history

  • Since 2000, July 24th has been a trading day 15 times.
  • On 53% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.11%.
  • The downward trend was limited to 0.46%.

 

Changes in the trading schedule

The Nikkei 225 will not be available on July 24th due to Japanese public holidays. We recommend paying attention to other stock indices — for example, DAX, FTSE 100, S&P 500.

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