Weekly News 22.06.2020–26.06.2020

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

Important events of this week include a rescue package to Lufthansa, the expansion of the Starlink global network, and new Nintendo products.


Economic Calendar

22.06 14:00 GMT 🇺🇸Existing Home Sales — EUR/USD ▼

23.06 14:00 GMT 🇺🇸New Home Sales — EUR/USD ▼

24.06 09:00 GMT 🇩🇪IFO Business Climate Index — EUR/USD ▲

25.06 12:30 GMT 🇺🇸GDP (QoQ) — EUR/USD ▲


June 22. Negotiations for a Nuclear Arms Reduction

The United States and Russia will resume negotiations on the fate of the Strategic Arms Reduction Treaty. The START-3 Treaty expires in February 2021.

The U.S. may withdraw from the agreement after its expiration if the terms of the treaty are not revised. However, President Donald Trump and his Russian counterpart Vladimir Putin may meet each other halfway to raise their ratings.


June 23. The Expansion of the Starlink Network

Another batch of satellites for SpaceX’s Starlink global Internet network is to be launched on this day. A Falcon 9 rocket will send into space 60 satellites.


June 24. Nintendo New Products

Nintendo’s developers promised to present a major game project. Meanwhile, the company’s shares are trading at their historic high. Experts allow the continued growth in demand for Nintendo products in case there is a second wave of COVID-19.

The company has recently released several new versions of Pokemon: Pokémon Smile for smartphones and Pokémon Cafe Mix.


June 25. The Fate of Lufthansa

Deutsche Lufthansa AG shareholders are to hold an extraordinary online meeting to discuss the terms of a €9 billion state aid package, including Germany taking a 20% stake in Lufthansa.

The company’s largest shareholder, Heinz Hermann Thiele has criticized the plans and promised to raise his stake, calling for alternative options to save Lufthansa.

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