daily outlook · 2020-07-16 · department said on thursday retail sales rose 7.5% last month. a...

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Research Department 17 July 2020

Daily Outlook GLOBAL MARKETS & ECONOMIES | WEEKLY ECONOMIC INDICATORS | CURRENCIES | PRECIOUS METAL | O I L |

GLOBAL ECONOMIES

New Zealand consumer prices fell by the most in four years last quarter as much of the economy closed to fight the coronavirus, while a collapse in global oil prices dragged petrol costs down sharply. The consumer price index (CPI) fell 0.5% from the first quarter, when it had climbed 0.8%.

Australia’s jobless rate edged up even though employment surged by a record in June, as more people searched for work encouraged by the re-opening of the economy from the coronavirus lockdown. Employment rose by a blockbuster 210,800 in June following hefty declines in April and May, Australian Bureau of Statistics (ABS) data showed on Thursday. Yet, the jobless rate still hit a 22-year high of 7.4% because the surge in jobs growth was not enough to offset the increase in the number of people who went looking for work.

The Australian government is injecting a further A$1.5 billion ($1.1 billion) into a wage subsidy programme to counter rising unemployment as the country posted the biggest rise in coronavirus cases since early April.

China's economy grew 3.2% in the second-quarter from a year earlier, data showed on Thursday, recovering from a record contraction as lockdown measures ended and policymakers stepped up stimulus to combat the shock from the coronavirus crisis.

China's industrial output rose 4.8% in June from a year earlier, data showed Thursday, expanding for the third straight month and offering some relief to an economy trying to regain its footing from the shock of the coronavirus outbreak earlier in the year. Retail sales fell 1.8% on-year, much worse than a predicted 0.3% growth, after a 2.8% drop in May. Fixed asset investment fell 3.1% in the first half of the year from the same period last year, compared with a forecast 3.3% fall and a 6.3% decline in the first five months of the year.

China said on Thursday it will stick to the Phase 1 trade deal it reached with the United States earlier this year but warned that it will respond to "bullying" tactics from Washington, as relations continue to deteriorate.

Fewer British workers lost their jobs in June and there were other signs that the hit to the labour market had eased off since the onset of the coronavirus crisis, but economists said unemployment remained on course to jump. The number of employees on company payrolls slumped by 649,000 between March and June, despite the government's huge job retention plan that has protected more than 9 million jobs. The unemployment rate unexpectedly held at 3.9% in the three months to May.

European passenger car sales slumped in June compared to a year ago but showed an improvement since May with the easing of coronavirus lockdown measures across the region, industry data showed on Thursday. In June, new car registrations dropped by 24.1% year-on-year to 1,131,843 vehicles in the European Union, Britain and the European Free Trade Association (EFTA) countries, statistics from the European Auto Industry Association (ACEA) showed. In May sales slumped 56.8% on the year.

The European Central Bank left policy unchanged on Thursday, pausing after taking a series of unprecedented measures over the past four months to salvage an economy that is fighting its biggest recession in living memory due to the coronavirus.

The European Central Bank will use its stimulus firepower fully even as the euro zone economy shows some signs of rebounding from its pandemic-induced recession, ECB President Christine Lagarde said on Thursday. Lagarde said economic activity in the 19-country euro zone had shown signs of a “significant, though uneven and partial recovery” but the outlook remained uncertain amid risks of a second wave of infections. Accordingly, the central bank sees no reason to hold back when deploying a 1.3 trillion euro ($1.49 trillion) envelope it has earmarked for buying financial assets under its Pandemic Emergency Purchase Programme (PEPP), Lagarde said.

Canada added 1,042,900 jobs in June as business reopened after shutdowns related to COVID-19, led by hiring in the trade, transportation and utilities sector, according to a report from payroll services provider ADP released on Thursday.

U.S. retail sales increased more than expected in June, but the budding economic recovery is being threatened by a resurgence in new COVID-19 infections and high unemployment. The Commerce Department said on Thursday retail sales rose 7.5% last month. A separate report from the Labor Department on Thursday showed 1.30 million people filed for state unemployment benefits during the week ending July 11, slightly down from 1.31 million in the prior period.

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U.S. business inventories fell by the most on record in May amid the COVID-19 crisis, supporting expectations for the sharpest drop in gross domestic product in the second quarter since the Great Depression. The Commerce Department said on Thursday business inventories declined 2.3% in May, the biggest decline since the government started tracking the series in 1992, after falling 1.4% in April.

The Trump administration is considering banning travel to the United States by all members of the Chinese Communist Party and their families, a person familiar with the matter said on Thursday, a move that would worsen already tense U.S.-China relations.

GLOBAL MARKETS

Government debt yields and global equity markets fell on Thursday as a growing number of U.S. coronavirus cases weighed on risk sentiment, which was also hurt by deteriorating U.S.-China relations and discouraging Chinese data.

A jump in the number of U.S. COVID-19 cases has forced states such as California to reduce business activity again, sparking fears of further economic damage and taking the shine off a Wall Street rally built on recovery hopes. The pandemic continues to surge in many Southern and Western states, with 67,404 new U.S. cases reported as of Wednesday by the Centers for Disease Control and Prevention. The number of new cases in European and Asian developed countries is in the hundreds, with the exception of Russia and the UK, according to daily situation reports by the World Health Organization.

Relations between the world’s two largest economies have sunk to a decades low, with new points of contention surfacing almost daily. China accused the United States of “gangster logic” after President Donald Trump ordered an end to Hong Kong’s special status under U.S. law in response to China’s imposition of new security legislation on the former British colony.

Italian government bond yields fell to their lowest since late March at 1.245% after the European Central Bank reassured markets it will most likely use the full firepower of emergency bond purchases to tackle the hit from the coronavirus.

FOREX

The safe-haven U.S. dollar rose modestly on Thursday afternoon as worries about rising numbers of coronavirus infections spurred a broader risk-off move, pushing U.S. equities lower. Another jump in coronavirus infections has forced California and other states to shut down again, raising fears the U.S. economy and labor market will continue to suffer. Retail sales in June increased for the second consecutive month, according to a report from the Commerce Department. But the resurgence in new COVID-19 cases is chipping at the budding recovery, keeping 32 million Americans on unemployment benefits, according to a separate report from the Labor Department on Thursday. The U.S. dollar index, which measures the currency against a basket of six rivals, was last up 0.35% at 96.350. The three major U.S. stock indexes were all in the red on the day, with the S&P 500 index last down 0.42%. The euro was slightly softer in afternoon trade, last trading down 0.28% at $1.138 ahead of an EU summit beginning Friday, at which European countries are expected to vote on a 750 billion euro ($856 billion) recovery fund to revive growth in the bloc. Even if the financing package the EU agrees on is smaller than what is currently on the negotiating table, analysts said the dollar may nevertheless continue to weaken against the euro.

GOLD

Gold fell below the key $1,800 level on Thursday as the dollar strengthened and the European Central Bank kept its monetary policy on hold, prompting some investors to lock in profits. Spot gold fell 0.8% to $1,796 per ounce by 2:24 pm EDT (1824 GMT). U.S. gold futures settled down 0.7% to $1,800.30. ECB President Christine Lagarde said the central bank will use its stimulus firepower fully even as the euro zone economy shows some signs of rebounding from its pandemic-induced recession. Also weighing on prices, the dollar edged 0.3% higher, making bullion expensive for holders of other currencies. Spot gold price hit $1,817.71 an ounce, its highest since September 2011, last week and has risen 18% so far this year. Bullion, widely considered a hedge against inflation and currency debasement, has gained on the back of massive stimulus measures and low interest rates, although market participants are still divided on the outlook for inflation. The recent surge in COVID-19 cases in the United States has forced states such as California to shut down again, sparking fears of more business damage. In other metals, palladium rose 0.4% to $1,988.92 an ounce, while platinum lost 1.2% at $822.42, and silver slipped 1.2% to $19.15

OIL

Oil prices fell 1% on Thursday after OPEC+ agreed to ease record supply curbs and as new infections of the novel coronavirus continue to surge in the United States. Both benchmark Brent and U.S. crude have remained above $40 a barrel for the last several weeks. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, lowered daily supply beginning in May and demand worldwide has rebounding, helping prices to stabilize. Fears of a second wave of cases of COVID-19 - led by the United States - are keeping the rally in check.

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Nearly 600,000 people worldwide have died of the disease, according to a Reuters tally. Brent fell 42 cents, or 1%, to settle at $43.37 a barrel. U.S. West Texas Intermediate (WTI) crude fell 45 cents, or 1.1%, to settle at $40.75 a barrel. Both benchmarks rose 2% on Wednesday following a sharp drawdown in U.S. crude inventories. International Energy Agency Executive Director Fatih Birol said on Wednesday that global oil markets are rebalancing, with prices of about $40 per barrel expected in coming months. OPEC+ agreed on Wednesday to scale back oil production cuts from August, reducing cuts by 2 million barrels per day to 7.7 million bpd through December. Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said production cuts in August and September would end up amounting to about 8.1 million-8.3 million bpd, more than the headline number. In a sign of recovery, China’s refinery daily crude oil throughput in June climbed 9% from a year earlier, reaching its highest level on record due to rising consumption.

ECONOMIC INDICATORS

DATE WIB CTY INDICATORS PER ACTUAL FORECAS

T PREV. REV.

Mon/13-Jul-20 11:30 JP Tertiary Industry Index MoM May -2.1% -- -6.0% -7.7%

22:30 GB BOE Governor Bailey Speaks on Libor

22:30 US Fed’s Williams Discusses Libor in a Joint Webinar with...

Tue/14-Jul-20 08:30 AU NAB Business Conditions Jun -7 -- -24

08:30 AU NAB Business Confidence Jun 1 -- -20

10:00 CN Exports YoY Jun 0.5% -1.5% -3.3%

10:00 CN Imports YoY Jun 2.7% -10% -16.7%

10:00 CN Trade Balance Jun $46.42b $58.6b $62.93b N/A CN Exports YoY CNY Jun 3.5% 1.4% N/A CN Imports YoY CNY Jun -3.7% -12.7%

N/A CN Trade Balance CNY Jun 393.80b 442.75b 11:30 JP Capacity Utilization MoM May -11.6% -- -13.3%

11:30 JP Industrial Production MoM May F -8.9% -8.4% -8.4% -9.8% 11:30 JP Industrial Production YoY May F -26.3% -25.9% -25.9% -15% 13:00 GB Construction Output MoM May 8.2% 14.5% -40.1% -40.2%

13:00 GB Construction Output YoY May -39.7% -36.5% -44% -44.3% 13:00 DE CPI EU Harmonized MoM Jun F 0.7% 0.7% 0.7% 0.4% 13:00 DE CPI EU Harmonized YoY Jun F 0.8% 0.8% 0.8% 0.5%

13:00 DE CPI MoM Jun F 0.6% 0.6% 0.6% -0.1% 13:00 DE CPI YoY Jun F 0.9% 0.9% 0.9% 0.6%

13:00 GB Index of Services 3M/3M May -18.9% -- -9.9% -10.7% 13:00 GB Index of Services MoM May -- -19% 13:00 GB Industrial Production MoM May 6% 6% -20.3% -20.2%

13:00 GB Industrial Production YoY May -20% -20.8% -24.4% -23.8% 13:00 GB Manufacturing Production MoM May 8.4% 8% -24.3% -24.4% 13:00 GB Manufacturing Production YoY May -22.8% -23.9% -28.5% -28.2%

13:00 GB Monthly GDP (3M/3M) May -19.1% -17.4% -10.4% -10.8% 13:00 GB Monthly GDP (MoM) May 1.8% 5.5% -20.4% -20.3%

13:00 GB Trade Balance GBP/Mn May £430m -- £305m £230m 13:00 GB Trade Balance Non EU GBP/Mn May £650m £-1560m -£2658m £-940m 13:00 GB Visible Trade Balance GBP/Mn May £-2810m £-8100m -£7490m

16:00 EZ Industrial Production SA MoM May 12.4% 15% -17.1% -18.2% 16:00 EZ Industrial Production WDA YoY May -20.9% -20% -28% -28.7%

16:00 DE ZEW Survey Current Situation Jul -80.9 -65 -83.1 16:00 EZ ZEW Survey Expectations Jul 59.6 -- 58.6 16:00 DE ZEW Survey Expectations Jul 59.3 60 63.4

17:00 US NFIB Small Business Optimism Jun 100.6 97.3 94.4 19:30 US CPI Core Index SA Jun 266.07 -- 265.441 19:30 US CPI Ex Food and Energy MoM Jun 0.2% 0.1% -0.1%

19:30 US CPI Ex Food and Energy YoY Jun 1.2% 1.1% 1.2% 19:30 US CPI Index NSA Jun 257.80 257.917 256.394

19:30 US CPI MoM Jun 0.6% 0.5% -0.1% 19:30 US CPI YoY Jun 0.6% 0.6% 0.1% 19:30 US Real Avg Hourly Earning YoY Jun -- 6.5%

19:30 US Real Avg Weekly Earnings YoY Jun -- 7.40%

Wed/15-Jul-20 01:30 US Fed’s Bullard Discusses Economy and Monetary Policy

06:00 KR Unemployment rate SA Jun 4.3% -- 4.5% 07:30 AU Westpac Consumer Conf Index Jul 87.9 -- 93.7

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07:30 AU Westpac Consumer Conf SA MoM Jul -6.1% -- 6.3%

N/A JP BOJ 10-Yr Yield Target Jul-15 -- 0.0% N/A JP BOJ CPI Current Forecast 3Q -- --

N/A JP BOJ CPI Current Forecast +1 3Q -- -- N/A JP BOJ CPI Current Forecast +2 3Q -- -- N/A JP BOJ GDP Current Forecast 3Q -- --

N/A JP BOJ GDP Current Forecast +1 3Q -- -- N/A JP BOJ GDP Current Forecast +2 3Q -- -- 10:00 JP BOJ Policy Balance Rate Jul-15 -0.1% -0.1% -0.1%

13:00 GB CPI Core YoY Jun 1.4% 1.2% 1.2% 13:00 GB CPI MoM Jun 0.1% 0.0% 0.0%

13:00 GB CPI YoY Jun 0.6% 0.4% 0.5% 13:00 GB CPIH YoY Jun -- 0.7% 13:00 GB PPI Input NSA MoM Jun 2.4% 3% 0.3% 0.9%

13:00 GB PPI Input NSA YoY Jun -6.4% -6.5% -10% -9.4% 13:00 GB PPI Output Core NSA MoM Jun 0.0% 0.0% 0.0% 13:00 GB PPI Output Core NSA YoY Jun 0.5% 0.6% 0.6%

13:00 GB PPI Output NSA MoM Jun 0.3% 0.2% -0.3% -0.2%

13:00 GB PPI Output NSA YoY Jun -0.8% -1.1% -1.4% -1.2%

13:00 GB Retail Price Index Jun -- 292.2 13:00 GB RPI Ex Mort Int.Payments (YoY) Jun -- 1.3%

13:00 GB RPI MoM Jun 0.2% 0.2% -0.1% 13:00 GB RPI YoY Jun 1.1% 1% 1% 15:00 GB BOE's Tenreyro Speaks on Covid-9 and the Economy

15:30 GB House Price Index YoY May -- -- 19:30 US Empire Manufacturing Jul 17.2 10 -0.2

19:30 CA Manufacturing Sales MoM May 10.7% 9.5% -28.5% -27.9% 20:15 US Capacity Utilization Jun 68.6% 68.7% 64.8% 65.1% 20:15 US Industrial Production MoM Jun 5.4% 4.3% 1.4%

20:15 US Manufacturing (SIC) Production Jun 7.2% 5.6% 3.8% 21:00 CA Bank of Canada Rate Decision Jul-15 0.25% 0.25% 0.25% 21:30 US DOE Cushing OK Crude Inventory Jul-10 949k -- 2206k

21:30 US DOE U.S. Crude Oil Inventories Jul-10 -7493k -2098k 5654k 21:30 US DOE U.S. Distillate Inventory Jul-10 -453k 1485k 3135k

21:30 US DOE U.S. Gasoline Inventories Jul-10 -3147k -643k -4839k

22:15 CA Bank of Canada Governor Tiff Macklem Holds Press Conference

23:00 US Fed’s Harker Discusses Economic Outlook

Thu/16-Jul-20 00:30 US New York Fed’s Logan Speaks at SIFMA Event 01:00 US U.S. Federal Reserve Releases Beige Book 05:45 NZ CPI QoQ 2Q -0.5% -0.5% 0.8%

05:45 NZ CPI YoY 2Q 1.5% 1.5% 2.5% 08:00 AU Consumer Inflation Expectation Jul 3.2% -- 3.3%

08:00 KR BoK 7-Day Repo Rate Jul-16 0.50% 0.50% 0.50% 08:30 AU Employment Change Jun 210.8k 112.5k -227.7k -264.1k 08:30 AU Full Time Employment Change Jun -38.1k -- -89.1k -101.9k

08:30 AU Part Time Employment Change Jun 249k -- -138.6k -162.3k 08:30 AU Participation Rate Jun 64% 63.6% 62.9% 62.7% 08:30 AU Unemployment Rate Jun 7.4% 7.4% 7.1%

09:00 CN GDP SA QoQ 2Q 11.5% 9.6% -9.8% -10% 09:00 CN GDP YoY 2Q 3.2% 2.5% -6.8%

09:00 CN GDP YTD YoY 2Q -1.6% -2.4% -6.8% 09:00 CN Industrial Production YoY Jun 4.8% 4.7% 4.4% 09:00 CN Industrial Production YTD YoY Jun -1.3% -1.5% -2.8%

09:00 CN Retail Sales YoY Jun -1.8% 0.3% -2.8% 09:00 CN Retail Sales YTD YoY Jun -11.76% -11% -13.5% -14.01% 09:00 CN Surveyed Jobless Rate Jun 5.7% 6% 5.9%

13:00 GB Average Weekly Earnings 3M/YoY May -- 1% 13:00 GB Claimant Count Rate Jun -- 7.8%

13:00 GB Employment Change 3M/3M May -126k -234k 6k 13:00 GB ILO Unemployment Rate 3Mths May 3.9% 4.2% 3.9% 13:00 GB Jobless Claims Change Jun -28.1k 250k 528.9k 566.4k

13:00 GB Weekly Earnings ex Bonus 3M/YoY May 0.7% 0.5% 1.7% 16:00 EZ Trade Balance NSA May €9.4b -- 2.9b €2.6b 16:00 EZ Trade Balance SA May -- 1.2b

17:45 GB BOE's Haldane Speaks About Financial Services 18:45 EZ ECB Deposit Facility Rate Jul-16 -0.50% -0.50% -0.50%

18:45 EZ ECB Main Refinancing Rate Jul-16 0.00% 0.00% 0.00% 18:45 EZ ECB Marginal Lending Facility Jul-16 0.25% -- 0.25% 19:30 CA ADP Releases Payroll Data 1042.9k -- -2059k

19:30 US Continuing Claims Jul-04 17338k 17600k 17760k 19:30 US Initial Jobless Claims Jul-11 1300k 1250k 1310k

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19:30 US Philadelphia Fed Business Outlook Jul 24.1 20 27.5

19:30 US Retail Sales Advance MoM Jun 7.5% 5% 17.7% 18.2% 19:30 US Retail Sales Control Group Jun 5.6% 3.6% 11% 10.1%

19:30 US Retail Sales Ex Auto and Gas Jun 6.7% 4.2% 12.4% 12.1% 19:30 US Retail Sales Ex Auto MoM Jun 7.3% 5% 12.4% 12.1% 21:00 US Business Inventories May -2.3% -2.3% -1.3% -1.4%

21:00 US NAHB Housing Market Index Jul 7 60 58

22:00 US Fed’s Evans Takes Part in Rocky Mountain Economic Summit

22:10 US Fed’s Williams Speaks to Financial Research Advisory...

Fri/17-Jul-20 05:30 NZ BusinessNZ Manufacturing PMI Jun -- 39.7 16:00 EZ Construction Output MoM May -- -14.6%

16:00 EZ Construction Output YoY May -- -28.4% 16:00 EZ CPI Core YoY Jun F -- 0.8% 16:00 EZ CPI MoM Jun F -- 0.3%

16:00 EZ CPI YoY Jun F -- 0.1% 17:00 GB BOE Governor Bailey Speaks on Webinar 19:30 US Building Permits Jun 1300k 1220k

19:30 US Building Permits MoM Jun 6.9% 14.4% 19:30 US Housing Starts Jun 1180k 974k

19:30 US Housing Starts MoM Jun 21.2% 4.3% 21:00 US U. of Mich. 1 Yr Inflation Jul P -- 3% 21:00 US U. of Mich. 5-10 Yr Inflation Jul P -- 2.5%

21:00 US U. of Mich. Current Conditions Jul P -- 87.1 21:00 US U. of Mich. Expectations Jul P -- 72.3 21:00 US U. of Mich. Sentiment Jul P 80 78.1

Sat/18-Jul-20 00:00 US Baker Hughes U.S. Rig Count Jul-17 -- --

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@researchvaf @rekhmen


EUR/USD

Interest Rate: 0.00% (EU)/ 0.00%-0.25% (US)

1.14919

RESISTANCE 1.14662

1.14207

SUPPORT

1.13495

1.13238

1.12783

SUGGESTION

BUY ---

SELL 1.1390

S/L 1.1440

T/P:

1.1320 1.1290

DATE OPEN HIGH LOW RANGE CLOSE CHANGE PREVIOUS

Jul 16 1.14110 1.14405 1.13693 71,2 1.13752 34,3 1.14095

WEEKLY JULY 2020

HIGH LOW HIGH LOW HIGH LOW

1.14509 (15/Jul) 1.12997 (13/Jul) 1.14509 (15/Jul) 1.11837 (01/Jul) 1.14944 (09/Mar) 1.06362 (20/Mar)

USDJPY Interest Rate: 0.00%-0.25% (US)/-0.1% (JP)

108.057

RESISTANCE 107.722

107.490

SUPPORT

106.923

106.588

106.356

SUGGESTION

BUY 107.20

SELL ---

S/L 106.80

T/P:

107.80 108.00


Jul 16 106.933 107.388 106.821 56,7 107.257 33,0 106.927

WEEKLY JULY 2020


107.422 (14/Jul) 106.654 (15/Jul) 108.151 (01/Jul) 106.626 (10/Jul) 112.213 (20/Feb) 101.170 (09/Mar)

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GBP/USD Interest Rate: 0.10% (GB)/ 0.00%-0.25% (US) 1.27161

RESISTANCE 1.26699

1.26110

SUPPORT

1.25059

1.24597

1.24008

SUGGESTION

BUY ---

SELL 1.2570

S/L 1.2620

T/P:

1.2500 1.2470


Jul 16 1.25872 1.26238 1.25187 105,1 1.25520 30,9 1.25829

WEEKLY JULY 2020


1.26651 (13/Jul) 1.24788 (14/Jul) 1.26683 (09/Jul) 1.23583 (01/Jul) 1.32649 (02/Jan) 1.14094 (20/Mar)

USD/CHF Interest Rate: 0.00%-0.25% (US)/ -1.25 to -0.25% (CH)

0.95035

RESISTANCE 0.94851

0.94650

SUPPORT

0.94265

0.94081

0.93880

SUGGESTION

BUY 0.9450

SELL ---

S/L 0.9415

T/P:

0.9505 0.9525


Jul 16 0.94439 0.94666 0.94281 38,5 0.94450 3,4 0.94416

WEEKLY JULY 2020


0.94666 (16/Jul) 0.93689 (15/Jul) 0.94928 (01/Jul) 0.93611 (09/Jul) 0.98998 (20/Mar) 0.91816 (09/Mar)

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AUD/USD Interest Rate: 0.25% (AU)/ 0.00%-0.25% (US) 0.70490

RESISTANCE 0.70302

0.69994

SUPPORT

0.69498

0.69310

0.69002

SUGGESTION

BUY ---

SELL 0.6975

S/L 0.6995

T/P:

0.6950 0.6930


Jul 16 0.70077 0.70115 0.69619 49,6 0.69686 37,6 0.70062

WEEKLY JULY 2020


0.70365 (15/Jul) 0.69200 (14/Jul) 0.70365 (15/Jul) 0.68758 (01/Jul) 0.70631 (10/Jun) 0.55067 (19/Mar)

NZD/USD Interest Rate: 0.25% (NZ)/ 0.00%-0.25% (US) 0.66200

RESISTANCE 0.65986

0.65659

SUPPORT

0.65118

0.64904

0.64577

SUGGESTION

BUY ---

SELL 0.6540

S/L 0.6560

T/P:

0.6510 0.6490


Jul 16 0.65718 0.65772 0.65231 54,1 0.65332 35,7 0.65689

WEEKLY JULY 2020


0.65923 (13/Jul) 0.65017 (14/Jul) 0.65994 (09/Jul) 0.64388 (01/Jul) 0.67356 (02/Jan) 0.54682 (19/Mar)

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USD/CAD Interest Rate: 0.00%-0.25% (US)/ 0.25% (CA) 1.36795

RESISTANCE 1.36299

1.35997

SUPPORT

1.35199

1.34703

1.34401

SUGGESTION

BUY 1.3565

SELL ---

S/L 1.3535

T/P:

1.3600 1.3630


Jul 16 1.35091 1.35803 1.35005 79,8 1.35695 60,9 1.35086

WEEKLY JULY 2020


1.36449 (14/Jul) 1.35005 (16/Jul) 1.36449 (14/Jul) 1.34900 (09/Jul) 1.46674 (19/Mar) 1.29559 (07/Jan)

EURJPY Interest Rate: 0.00% (EU)/-0.1% (JP)

123.132

RESISTANCE 122.803

122.445

SUPPORT

121.758

121.429

121.071

SUGGESTION

BUY 121.95

SELL ---

S/L 121.50

T/P:

122.55 122.75


Jul 16 122.026 122.475 121.788 68,7 122.086 9,0 121.996

WEEKLY JULY 2020


122.475 (16/Jul) 120.793 (13/Jul) 122.475 (16/Jul) 120.232 (01/Jul) 124.402 (05/Jun) 114.399 (06/May)

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GOLD (XAU/USD)

1826.93

RESISTANCE 1820.11

1808.44

SUPPORT

1789.95

1783.13

1771.46

SUGGESTION

BUY ---

SELL 1799.00

S/L 1806.00

T/P:

1790.00 1783.00


Jul 16 1810.26 1813.30 1794.81 18.49 1796.77 13.20 1809.97

WEEKLY JULY 2020


1814.87 (15/Jul) 1792.08 (14/Jul) 1817.95 (08/Jul) 1757.47 (02/Jul) 1817.95 (08/Jul) 1450.81 (16/Mar)

SILVER (XAG/USD)

19.724

RESISTANCE 19.584

19.359

SUPPORT

18.994

18.854

18.629

SUGGESTION

BUY ---

SELL 19.20

S/L 19.35

T/P:

19.00 18.85


Jul 16 19.428 19.444 19.079 0.36 19.134 0.27 19.403

WEEKLY JULY 2020


19.459 (15/Jul) 18.734 (13/Jul) 19.459 (15/Jul) 17.746 (02/Jul) 19.459 (15/Jul) 11.616 (18/Mar)

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OIL WTI – CL-AUG/USD (Exp. 17 Jul 2020)

41.75

RESISTANCE 41.46

41.09

SUPPORT

40.43

40.14

39.77

SUGGESTION

BUY ---

SELL 40.80

S/L 41.05

T/P:

40.45 40.20


Jul 16 40.96 41.17 40.51 0.66 40.72 0.27 40.99

WEEKLY JULY 2020


41.24 (15/Jul) 39.08 (14/Jul) 41.24 (15/Jul) 38.53 (10/Jul) 65.63 (08/Jan) 6.54 (21/Apr)

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daily outlook · 2020-07-16 · department said on thursday retail sales rose 7.5% last month. a...

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