Analytics

News, Trends, & Analytics 30.07.2021

US Q2 Growth

Today the focus is on British mortgages, German unemployment, and US gains.

 

Calendar

8:00 UTC

The German GDP (QoQ) data for Q2 will be released. Forecast: 2.0%. If the data is lower than expected the EUR could receive a negative push.

Assets to trade: EUR/USD, EUR/CHF, NZD/EUR


9:00 UTC

The EU CPI (YoY) for July will be reported. Forecast: 2.0%. If the data is higher than projected the EUR may receive a positive push.

Assets to trade: EUR/USD, EUR/CHF, NZD/EUR


12:30 UTC

The Canadian GDP (MoM) for May. Forecast: -0.3%. If the results are higher than expected could give the CAD positive pressure.

Assets to trade: USD/CAD, EUR/CAD, GBP/CAD

 

News

The U.S. economy likely gained steam in the second quarter, with the pace of growth probably the second-fastest in 38 years, as massive government aid and vaccinations against COVID-19 fueled spending on travel-related services. Affects USD


Germany’s annual consumer price inflation accelerated by more than expected to hit a 13-year high in July, leading services sector trade union Verdi to immediately demand “strong wage increases”. Affects DAX


British mortgage lending showed a record surge in June as home-buyers rushed to qualify for a tax break before it was scaled back, but other data added to signs that a rise in COVID-19 cases in recent weeks slowed the broader economic recovery from lockdown. Affects GBP


Consumer spending on credit and debit cards in Britain rose 2 percentage points in the week to July 22 from the week before, according to data published by the country’s statistics office on Thursday. Affects GBP


German unemployment fell in July as companies hired more staff in light of a recovery in Europe’s largest economy, official figures showed on Thursday. Affects EUR

 

Technical Analysis

AUD/USD

The US economy has roared back thanks to vaccines and stimuli. Though recovery is underway, inflation continues to rise, and the Fed has nodded toward tapering which has spooked investors and dropped the dollar.

The pair is attempting to break a resistance zone on its slow climb upward.

Microsoft

It is testing its support level after two days of heavy downward pressure, prices could reflect higher.

FTSE 100

The index is testing its resistance level and the strength of the current uptrend.

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