Analytics

News, Trends, & Analytics 26.07.2019

Johnson promises to make Britain great again

Japan’s factory output may be lower for June, North Korea tested more missiles, & Boris Johnson is preparing to crash out of the EU.

 

News

Boris Johnson promised that Brexit would make Britain the greatest place on earth, and threatened that if the EU refused to renegotiate he would take Britain out on Oct. 31 without a deal. Affects GBP


A Reuters poll showed on Friday, Japan’s factory output is expected to have slipped in June after rising the previous two months, as slowing global growth and the protracted U.S.-China trade war put more pressure on manufacturers worldwide. Affects JPY


Apple Inc took a major step toward supplying its own smartphone chips by purchasing the majority of Intel Corp’s modem business in a deal valued at $1 billion. Affects Apple


North Korea test-fired two new short-range ballistic missiles on Thursday, its first missile test since Kim Jong Un and U.S. President Donald Trump agreed to revive denuclearization talks last month. Affects Gold


After the company reported quarterly results that eased investors’ concerns about growth challenges facing its Google advertising business, Alphabet Inc shares rose about 8%. Affects Google

 

Calendar

10:30 GMT

Russia’s Interest Rate Decision for July will be announced. The primary objective of the central bank is to achieve price stability. Affects RUB.

 

12:30 GMT

The U.S. GDP (QoQ) for Q2 will be released. This report is a barometer of the overall economy. Affects USD.

 

Technical analysis

FTSE 100

Boris Johnson, though he expressed the hope of reaching an agreement with Brussels, he called on the country’s parliament to prepare for the possibility of leaving the EU without an agreement. In addition, the new PM appointed eurosceptics to key posts.

The chart shows a Triple Top reversal pattern. We expect the index to decline.

GBP / JPY

The asset’s quotes may resume its growth after a reversal from the lower boundary of the channel.

Coca-Cola

Coca-Cola shares are gradually declining against the backdrop of profit-taking by investors. Decreases may stop at around 52.30.

 

EUR/USD on this day in history

  • Since 2000 July 26th has been a trading day 15 times.
  • On 53% of those days, the asset ended with growth.
  • The maximum reinforcement range was 1.11%.
  • The trend down was limited to 0.93%.

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