Weekly News 20.07.2020–24.07.2020

Introducing the most complete review of the upcoming week from analysts Olymp Trade.

Important events of the coming week include the ongoing reporting season, a possible ban on TikTok, and COVID-19 vaccine developers’ speeches to US Congress.


Economic Calendar

21.07 12:30 GMT 🇨🇦Core Retail Sales Index — USD/CAD ▲

22.07 12:30 GMT 🇨🇦Core Consumer Price Index — USD/CAD ▲

23.07 12:30 GMT 🇺🇸Initial Jobless Claims — EUR/USD ▼

24.07 14:00 GMT 🇺🇸New Home Sales — EUR/USD ▼


July 20. Strike in the US

On July 20, tens of thousands of US workers plan to take part in a strike against racial discrimination. According to media reports, strike participants will demand better working conditions for low-paid employees and affordable health insurance.


July 21. COVID-19 Vaccine. Coca-Cola Report

Officials from Pfizer, AstraZeneca, Johnson & Johnson, Merck and Moderna pharmaceutical companies will testify online before the US Congress. They will comment on the current status of the process of COVID-19 vaccine development.

Moderna representatives announced earlier that volunteers had a stable reaction to the experimental vaccine, which sent the company stock soaring.

Coca-Cola will report on its quarterly earnings before the trading session. Experts expect a decrease in sales of products. However, the company retains growth potential due to its market sustainability.


July 22. Ban on TikTok. Microsoft Report

The US Senate will consider banning Chinese social network TikTok for civil servants. Politicians accuse the app of being a threat to US national security, as it is controlled by the Chinese authorities.

The Microsoft Corporation will present its quarterly report after the US trading session. Despite the pandemic and the crisis, experts expect the company’s earnings per share to come in at $1.39.


July 23. Australia’s Budget

Australia’s Treasurer Josh Frydenberg is to publish a report on the main directions of the country’s 2020-2021 budgetary policy. In particular, they plan to cancel some support measures introduced for business during the pandemic. However, the recent data indicate a new increase in the number of coronavirus cases.

Meanwhile, the unemployment rate in the country has reached its highest level in the last two decades.


July 24. Masks Are Back in the UK

From this day on, wearing masks in all shops in England will be mandatory. Those who fail to comply with the rule will have to pay a fine of £100. The same measures have already been introduced in in Scotland.

Like any other country COVID-19- affected country, the UK aims to cope with the second wave of the disease.

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Stable Low Values

Data coincided with expectations, but fears rose with regard to Greece.
Official Olymp Trade Blog