{"id":10053,"date":"2020-06-29T08:22:52","date_gmt":"2020-06-29T08:22:52","guid":{"rendered":"https:\/\/errante.net\/the-week-ahead-29th-june-3rd-july-2020\/"},"modified":"2020-06-29T08:22:52","modified_gmt":"2020-06-29T08:22:52","slug":"the-week-ahead-29th-june-3rd-july-2020","status":"publish","type":"post","link":"https:\/\/errante.net\/pt-pt\/the-week-ahead-29th-june-3rd-july-2020\/","title":{"rendered":"The Week Ahead 29th June – 3rd July 2020"},"content":{"rendered":"\n

Market Recap<\/strong><\/h2>\n\n\n\n

Equities had another down day last Friday, while the VIX reclaimed 35 to the upside, as the continued rise in COVID cases in key states such as Texas has begun to see policymakers walk back on reopening plans as hospitals begin to reach capacity. <\/p>\n\n\n\n

Internally, financials and communications led the losses with the former suffering from the stress tests and the latter getting weighed on heavy as corporates begin boycotting ads on large tech platforms (FB, TWTR, GOOGL). <\/p>\n\n\n\n

Market Outlook for Today<\/strong><\/h2>\n\n\n\n

Asian stock markets began this week lower across the board with sentiment dulled, due to a continued focus on the rising virus infection rates. In the US, this has forced some key states to back-pedal on their reopening efforts with California, Texas and Florida imposing new restrictions, while the global death toll from the pandemic has surpassed the half million mark.  <\/p>\n\n\n\n

ASX 200 (-2.2%) was dragged lower with energy underperforming the broad weakness seen across Australia\u2019s sectors aside from gold miners which stayed resilient on the safe-haven play, and Nikkei 225 (-2.3%) was pressured after weaker than expected Retail Sales data and with the number of new infections in Tokyo rising to the most since the removal of the state of emergency declaration.  <\/p>\n\n\n\n

Visiting the currencies market, one of the top indicators for the overall movements of major movers would be the USD index. The index is seen to be trading lower today, as the surge of coronavirus cases in the largest populated US states forced a reversal of their reopening agenda, which the USD\u2019s major counterparts benefitted from, with the EUR\/USD benefiting from a bounce back around its 200-Hour MA level at the 1.1250\u2019s psychological level. <\/p>\n\n\n\n

Overview for the Week Ahead<\/strong><\/h2>\n\n\n\n

The\u202fEUR\u202fand\u202fGBP\u202fwill continue eyeing EU-UK Brexit negotiations. The two sides have until tomorrow to decide on whether to extend the transition period. Another key\u202ffundamental theme\u202fto keep a close eye on, are the liquidity conditions and the Fed\u2019s balance sheet. The US Balance Sheet has now shrunk over a weekly basis twice in a row. <\/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

Monday 29th June<\/strong><\/h3>\n\n\n\n