
DAILY REPORT - 20th JULY 2020
Dow futures were trading at 26442.50 while Nasdaq 100 and S&P 500 futures inched down to 10,581.25 and 3203.62 respectively, at the time of writing.
On the earnings front, AutoNation Inc and Bank of Marin Bancorp are scheduled to report their quarterly results before the market opens on Monday.
On the economic front, the Central Bank of Brazil will release the Focus Market Report which will provide weekly mean market expectations for inflation over following 12 months
and the following year, as well as expectations for real GDP growth, net public sector debt/GDP, industrial production growth, current account, and trade balance.
European equities were trading in mixed territory. In the Cash Markets, the CAC 40 was trading lower by 0.31% at 5069.42 while the DAX inched up 0.35% to 12919.61, at the time of writing.
On the data front, Germany reported the PPI (MoM) for June on Monday. The German Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers.
The PPI reading came in at 0.00%, lower than the consensus estimates of 0.20%.
Asia-Pacific markets were trading in mixed territory in the cash markets on Monday. The ASX 200 declined 0.53% and was trading at 6001.60. The Shanghai Composite rose 2.35% to 3289.78 and Nikkei 225 inched up 0.02% to 22,700.00, at the time of writing.
On the data front, Japan will report National Core CPI (YoY) for June on Monday. The National Core Consumer Price Index (CPI) measures the change in the price of goods and services purchased by consumers, excluding fresh food. The National Core CPI reading is expected to come in at -0.1%.
US Dollar Index futures inched down 0.04% to 95.850 and British Pound futures declined 0.21% to 1.2546, at the time of writing. US Dollar Index futures declined on Monday as a result of growing uncertainties among traders regarding the fresh economic stimulus to be announced by the government amid increasing Covid-19 infections in the US.
In the Commodity Markets, Silver declined by 0.21% to $19.723 and Gold inched up 0.03% to $1800.60 at the time of writing. Brent oil prices declined by 0.70% to $42.84, at the time of writing. Oil prices fell on Monday, unnerved by the prospect that a recovery in fuel demand could be derailed by a rise in the pace of coronavirus infections around the world.
In the Cryptocurrency Markets, Bitcoin rose 0.30% to 9,185.70 and Ethereum inched up 1.73% to 238.80 respectively in the last 24 hours. In news related to the cryptocurrency markets, Synthetix unveiled its new decentralized asset management platform dHedge, emerging out of stealth mode. The Platform takes advantage of non-custodial mimetic trading for Synths or tokens that provide exposure to assets such as gold, Bitcoin and the U.S. dollar on the Ethereum blockchain.
TECHNICAL SUMMARY
EUR/USD
EUR/USD D1
TRADE SUGGESTION- BUY AT 1.14492, TAKE PROFIT AT 1.15035 AND STOP AT 1.14160
USD/JPY
USD/JPY D1
TRADE SUGGESTION –BUY AT 107.133, TAKE PROFIT AT 106.850 AND STOP AT 106.650
EUR/JPY
EUR/JPY D1
TRADE SUGGESTION- BUY AT 122.838, TAKE PROFIT AT 123.700 AND STOP AT 122.049
AUD/USD
AUD/USD D1
TRADE SUGGESTION- BUY AT 0.69968, TAKE PROFIT AT 0.70635 AND STOP AT 0.69580
NATURAL GAS
NATURAL GAS
TRADE SUGGESTION- SHORT SELL AT 1.672, TAKE PROFIT AT 1.600 AND STOP AT 1.720
GOLD
GOLD D1
TRADE SUGGESTION- BUY AT 1811.85, TAKE PROFIT AT 1822.20 AND STOP AT 1800.00
NASDAQ 100
NASDAQ 100 D1
TRADE SUGGESTION- BUY AT 10612.25, TAKE PROFIT AT 10938 AND STOP AT 10400.
Dow futures were trading at 26442.50 while Nasdaq 100 and S&P 500 futures inched down to 10,581.25 and 3203.62 respectively, at the time of writing.
On the earnings front, AutoNation Inc and Bank of Marin Bancorp are scheduled to report their quarterly results before the market opens on Monday.
On the economic front, the Central Bank of Brazil will release the Focus Market Report which will provide weekly mean market expectations for inflation over following 12 months
and the following year, as well as expectations for real GDP growth, net public sector debt/GDP, industrial production growth, current account, and trade balance.
European equities were trading in mixed territory. In the Cash Markets, the CAC 40 was trading lower by 0.31% at 5069.42 while the DAX inched up 0.35% to 12919.61, at the time of writing.
On the data front, Germany reported the PPI (MoM) for June on Monday. The German Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers.
The PPI reading came in at 0.00%, lower than the consensus estimates of 0.20%.
Asia-Pacific markets were trading in mixed territory in the cash markets on Monday. The ASX 200 declined 0.53% and was trading at 6001.60. The Shanghai Composite rose 2.35% to 3289.78 and Nikkei 225 inched up 0.02% to 22,700.00, at the time of writing.
On the data front, Japan will report National Core CPI (YoY) for June on Monday. The National Core Consumer Price Index (CPI) measures the change in the price of goods and services purchased by consumers, excluding fresh food. The National Core CPI reading is expected to come in at -0.1%.
US Dollar Index futures inched down 0.04% to 95.850 and British Pound futures declined 0.21% to 1.2546, at the time of writing. US Dollar Index futures declined on Monday as a result of growing uncertainties among traders regarding the fresh economic stimulus to be announced by the government amid increasing Covid-19 infections in the US.
In the Commodity Markets, Silver declined by 0.21% to $19.723 and Gold inched up 0.03% to $1800.60 at the time of writing. Brent oil prices declined by 0.70% to $42.84, at the time of writing. Oil prices fell on Monday, unnerved by the prospect that a recovery in fuel demand could be derailed by a rise in the pace of coronavirus infections around the world.
In the Cryptocurrency Markets, Bitcoin rose 0.30% to 9,185.70 and Ethereum inched up 1.73% to 238.80 respectively in the last 24 hours. In news related to the cryptocurrency markets, Synthetix unveiled its new decentralized asset management platform dHedge, emerging out of stealth mode. The Platform takes advantage of non-custodial mimetic trading for Synths or tokens that provide exposure to assets such as gold, Bitcoin and the U.S. dollar on the Ethereum blockchain.
TECHNICAL SUMMARY
EUR/USD

EUR/USD D1

TRADE SUGGESTION- BUY AT 1.14492, TAKE PROFIT AT 1.15035 AND STOP AT 1.14160
USD/JPY

USD/JPY D1

TRADE SUGGESTION –BUY AT 107.133, TAKE PROFIT AT 106.850 AND STOP AT 106.650
EUR/JPY

EUR/JPY D1

TRADE SUGGESTION- BUY AT 122.838, TAKE PROFIT AT 123.700 AND STOP AT 122.049
AUD/USD

AUD/USD D1

TRADE SUGGESTION- BUY AT 0.69968, TAKE PROFIT AT 0.70635 AND STOP AT 0.69580
NATURAL GAS

NATURAL GAS

TRADE SUGGESTION- SHORT SELL AT 1.672, TAKE PROFIT AT 1.600 AND STOP AT 1.720
GOLD

GOLD D1

TRADE SUGGESTION- BUY AT 1811.85, TAKE PROFIT AT 1822.20 AND STOP AT 1800.00
NASDAQ 100

NASDAQ 100 D1

TRADE SUGGESTION- BUY AT 10612.25, TAKE PROFIT AT 10938 AND STOP AT 10400.