Analytics

News, Trends, & Analytics 29.07.2021

For US, Buy US

Today the focus is on UK housing prices, the Australian CPI, and Biden’s buy US plans

 

Calendar

7:55 UTC

The German Unemployment Change for July will be released. Forecast: -28K. If the data is lower than expected the EUR could receive a positive push.

Assets to trade: DAX, EUR/CHF, EUR/JPY


12:30 UTC

The US GDP (QoQ) for Q2 will be reported. Forecast: 8.5%. If the results are lower than predicted the USD could receive negative pressure.

Assets to trade: USD/JPY, AUD/USD, USD/NZD


12:30 UTC

US Initial Jobless Claims data will be announced. Forecast: 380K. If the data is lower than expected the USD could see positive pressure.

Assets to trade: USD/MXN, USD/NOK, USD/JPY

 

News

The US trade deficit in goods increased in June as imports continued to rise amid strong economic activity, suggesting trade likely remained a drag on growth in the second quarter. Affects S&P 500


Canada’s annual inflation rate in June dipped to 3.1% from a year-over-year increase of 3.6% in May, in part due to downward pressure from the prices of clothing and vegetables, Statistics Canada said on Wednesday. Affects CAD


US President Joe Biden toured a Mack Trucks plant in Pennsylvania on Wednesday to hammer home the importance of American manufacturing and unveil new rules that will gradually boost the US content of goods bought with taxpayer dollars. Affects Dow Jones


British house prices fell in July after a coronavirus emergency tax break for buyers was scaled back at the end of June but demand for bigger homes as a result of the pandemic is likely to support the market, mortgage lender Nationwide said. Affects GBP


Australia’s consumer prices rose at the fastest annual pace in almost 13 years last quarter as petrol jumped and government subsidies unwound, but a far tamer reading for core inflation suggested the spike would be fleeting. Affects AUD

 

Technical Analysis

Dow Jones

President Biden’s new decree to buy more goods at home could send the Dow to new highs shortly after setting records. The initiative to spread government spending to more US companies will be a boon to many industries.

The index has tested its resistance level set at recent highs, but it has not broken the second boundary of the support channel and could continue to climb.

Visa

Prices have dropped into the upward support channel, prices could breakout in either direction.

Russell 200

This index is in a sustained downtrend and could continue to fall.

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