Today, the focus is on the concerns of officials from the ECB, a decrease in oil reserves in the United States, as well as Boeing’s quarterly report.
A preliminary report on US GDP for Q2 2020 will be published. A decrease of 34.1% is projected. Despite such pessimistic estimates, the actual data may differ significantly. Nevertheless, we expect a significant increase in USD volatility.
Assets for trading: EUR/USD, USD/CHF, Gold
Boeing has announced plans to cut production of key aircraft models. Affects Boeing
Tesla may supply batteries to other companies. Affects Tesla
Research shows iPhone demand in China has grown by over 200%. Impacts Apple
The American Petroleum Institute reported a sharp decline in US reserves. Affects Brent
ECB Governing Council member, Constantinos Herodotu, expressed concern about inflation in the EU. Affects EUR
The corporation has published its financial report for the second quarter of this year. Loss per share amounted to $4.79 while the forecast was $2.93. Also, the amount of revenue decreased immediately by 25%. In addition, the company’s management decided to discontinue production of the legendary 747 model.
Against this background, the quotes renewed their monthly minimum, dropping below the level of 170. If we focus on the Fibonacci levels, the asset may reach the level of 155.
The company’s stock chart has formed a head and shoulders reversal pattern. The quotes may fall below 305.
The currency pair continues to trade within the channel 1.17550–1.19180, so another decline in quotations is possible.
- Since 2000, July 30th has been a trading day 13 times.
- On 76% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.8%.
- The downward trend was limited to 0.81%.