Daily Report - 15th July 2020

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Daily Report - 15th July 2020


Dow futures were trading at 26782.50 while Nasdaq 100 and S&P 500 futures inched up to 10,706.50 and 3210.12 respectively, at the time of writing.

On the earnings front, Bank of NY Mellon and Goldman Sachs Group Inc are scheduled to report their quarterly results before the market opens on Wednesday.

On the economic front, Canada will report the Core CPI (MoM) for June on Wednesday. The CPI reports the change in consumer prices for goods and services, serving as a key indicator of the underlying strength in consumer demand, helping policy makers decide on future monetary policy. The previous index reading stood at -0.1%.

European equities were trading in negative territory. In the Cash Markets, the CAC 40 was trading at 5007.46 while the DAX inched down 0.80% to 12697.36, at the time of writing.

On the data front, the UK reported its Consumer Price Index (YoY) for June on Wednesday. The change in the price of goods and services, as reported by the index reading stood at 0.6%, beating the consensus estimates at 0.4%.

Asia-Pacific markets were trading in a mixed territory in the cash markets on Wednesday. The ASX 200 rose 1.88% and was trading at 6052.90. The Shanghai Composite declined 1.54% to 3362.09 and Nikkei 225 inched up 1.59% to 22,945.94, at the time of writing.

On the data front, China will report Q2 GDP numbers on Wednesday. The total annualized change In the inflation adjusted value of goods and services produced in china is expected to come in at 2.5%.

US Dollar Index futures inched down 0.12% to 96.090 and British Pound futures rose 0.31% to 1.2600, at the time of writing. The US Dollar Index futures were down on Wednesday as investors continued the previous session’s retreat from the safe-haven asset as data released on Tuesday indicated increased U.S. inflation.

In the Commodity Markets, Silver rose by 0.78% to 19.683 and Gold inched down 0.15% to 1810.70 at the time of writing. Brent oil prices rose to 43.09 at the time of writing. Weak global demand continues to pressure prices as a rapid resurgence in covid-19 cases keeps people indoors and large sections of the economy remain shut.

In the Cryptocurrency Markets, Bitcoin and Ethereum rose to 9,225.2 and 239.44 respectively at the time of writing. In news related to the cryptocurrency markets, Digital asset data firm Brave New Coin (BNC) has inked a multi-year deal with the Toronto Futures Options Swaps Exchange (TFOSE) to power its crypto options trading. BNC’s data will enable the new Canadian derivatives exchange and clearinghouse to offer cash-settled crypto derivatives to global clients.





TECHNICAL SUMMARY


EUR/USD


EUR/USD D1


TRADE SUGGESTION- BUY AT 1.14300, TAKE PROFIT AT 1.14935 AND STOP AT 1.13800







USD/JPY


USD/JPY D1




TRADE SUGGESTION –SHORT SELL AT 106.978, TAKE PROFIT AT 106.400 AND STOP AT 107.300







EUR/JPY


EUR/JPY D1


TRADE SUGGESTION- BUY AT 122.398, TAKE PROFIT AT 123.000 AND STOP AT 122.000









AUD/USD


AUD/USD D1


TRADE SUGGESTION- BUY AT 0.70071, TAKE PROFIT AT 0.70250 AND STOP AT 0.69900









NATURAL GAS


NATURAL GAS


TRADE SUGGESTION- BUY AT 1.750, TAKE PROFIT AT 1.850 AND STOP AT 1.700









GOLD


GOLD D1


TRADE SUGGESTION- BUY AT 1813.28, TAKE PROFIT AT 1830.20 AND STOP AT 1802.40









NASDAQ 100



NASDAQ 100 D1


TRADE SUGGESTION- BUY AT 10695.90, TAKE PROFIT AT 11000 AND STOP AT 10500.

 
 
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