{"id":9682,"date":"2020-07-21T07:30:58","date_gmt":"2020-07-21T07:30:58","guid":{"rendered":"https:\/\/errante.net\/trading-analysis-21st-july-2020\/"},"modified":"2020-07-21T07:30:58","modified_gmt":"2020-07-21T07:30:58","slug":"trading-analysis-21st-july-2020","status":"publish","type":"post","link":"https:\/\/errante.net\/es\/trading-analysis-21st-july-2020\/","title":{"rendered":"Trading Analysis – 21st July 2020"},"content":{"rendered":"\n

Today’s Market Outlook<\/strong><\/h2>\n\n\n\n

In Asia, Japan’s Nikkei 225 index appreciated by 0.43% or about 98.12 points to 22,815.60 during early trading sessions. Hong Kong’s Hang Seng index climbed 1.47%, or 369.07 points, to 25,427.06. China’s Shanghai Composite index gained 0.49%, or 16.40 points, to 3,330.55. <\/p>\n\n\n\n

In the commodities market, Gold tiptoed higher today after scaling a near nine-year high in the previous session, since demand improved driven by both fear and worries over a spike in coronavirus cases and expectations of higher inflation from more stimulus measures to mitigate the economic blow. Spot gold was up 0.23% at $1,822.53 per ounce, hitting its highest since September 2011. For Oil on the other hand, its\u2019 prices were little changed from yesterday, as prices were trapped in the narrow trading band of the past three weeks, due to  hopes for a recovery in oil demand against fears of new lockdowns due to a growing number of coronavirus cases. Brent futures were up 15 cents, or 0.4 per cent, at $43.43.  <\/p>\n\n\n\n

As for the currencies market, the EUR weakened in earlier trading sessions today, after the EC finally reached an agreement on the recovery fund. Traders seem to be taking some profits as expectations became news on mainstream media. The NZD however, is spotted to be the weakest link so far, partly driven by cross selling, especially against the AUD. The CAD and AUD are trading strongest especially on a risk-on sentiment. Just as a note, the AUD is given additional boost which may enhance its skywards moves, due to RBA Governor\u2019s ruling out of negative rates and any interventions. <\/p>\n\n\n\n

Today’s High Impact Events<\/strong><\/h2>\n\n\n\n

The times below are GMT+3.<\/p>\n\n\n\n

04.30 \u2013 Australia RBA Meeting Minutes (Post)<\/strong><\/h3>\n\n\n\n

Australia\u2019s central bank has decided that it was not necessary to adjust its policy measures in the current environment, minutes of its July policy meeting showed during Sydney\u2019s open sessions today, where board members restated that negative interest rates remained \u201cextraordinarily unlikely\u201d. <\/p>\n\n\n\n

Potential instruments to Trade: AUD & NZD crosses.<\/p>\n\n\n\n

06.30 \u2013 Australia Governor Lowe\u2019s Speech (Post)<\/strong> <\/h3>\n\n\n\n

Governor Philip Lowe, in his annual speech to the Anika Foundation today, addressed the following key points: <\/p>\n\n\n\n