{"id":9777,"date":"2020-07-22T08:34:05","date_gmt":"2020-07-22T08:34:05","guid":{"rendered":"https:\/\/errante.net\/trading-analysis-22nd-july-2020\/"},"modified":"2020-07-22T08:34:05","modified_gmt":"2020-07-22T08:34:05","slug":"trading-analysis-22nd-july-2020","status":"publish","type":"post","link":"https:\/\/errante.net\/it\/trading-analysis-22nd-july-2020\/","title":{"rendered":"Trading Analysis – 22nd July 2020"},"content":{"rendered":"\n

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

Asia shares opened slightly lower today and as expected, especially after US President Donald Trump\u2019s comments regarding the country\u2019s surge in new coronavirus cases, which outweighed the impact of a slight rally on Wall Street. Conversely, Shanghai Comp (+1.2%) outperformed following yesterday\u2019s pause, whilst Hang Seng (closing stocks equalled opening price, no changes) took a breather but remained in positive territory as oil giants kept the index afloat <\/p>\n\n\n\n

ASX 200 (-1.6%) lagged as cases stayed on an upward trajectory in Australia\u2019s second largest state of Victoria, although miners saw a boost from the rally in precious metals. Nikkei 225 (-0.5%) failed to nurse opening losses as several large-cap stocks remained in the red, whilst recent JPY strength further weighed on exporters in the index.  <\/p>\n\n\n\n

Stock futures creeped lower in Europe and shares across Asia were mixed today amid uncertainty over the timing of a fresh U.S. stimulus program. The USD extended losses, while gold soared above $1,850 an ounce. The top three indices traded to the downside, in the latter part of the session as the US stimulus bill hit a bump amid differences over the size of the package and whether payroll tax cuts should be included.  <\/p>\n\n\n\n

As for Oil prices today, it depreciated\u202fas industry data showed a bigger-than-expected inventory build\u202fin the United States where coronavirus cases continue to rise,\u202fpotentially further damaging demand in the world\u2019s biggest oil\u202fconsumer. <\/p>\n\n\n\n

In the currency market, the\u00a0USD\u00a0harboured\u00a0losses against most currencies, weakened by concerns\u00a0over struggles by\u00a0Republicans and Democrats\u00a0in\u00a0reaching\u00a0consensus on the next round of US economic stimulus measures.\u00a0<\/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

15.30\u00a0\u2013\u00a0Canada\u00a0BOC Consumer Price Index<\/strong><\/h3>\n\n\n\n

Traders would keep a watch on Canada\u2019s consumer price index for June, slated to release later today. So far on the data front, Canada\u2019s retail sales surged 18.7% on a monthly basis in May, less than market expectations for a rise of 20.0% and compared to a revised fall of 25.0% in the previous month. On the flipside, the new housing price index rose 1.3% on an annual basis in June, compared to a rise of 1.1% in the previous month. <\/p>\n\n\n\n