{"id":11632,"date":"2020-07-16T12:28:54","date_gmt":"2020-07-16T12:28:54","guid":{"rendered":"https:\/\/errante.net\/midday-analysis-16th-july-2020\/"},"modified":"2020-07-16T12:28:54","modified_gmt":"2020-07-16T12:28:54","slug":"midday-analysis-16th-july-2020","status":"publish","type":"post","link":"https:\/\/errante.net\/th\/midday-analysis-16th-july-2020\/","title":{"rendered":"Midday Analysis – 16th July 2020"},"content":{"rendered":"\n
During today’s Asia-Pacific session, the risk tone turned while pressuring high-beta currencies, commodity-linked currencies and supporting safe-havens. The risk-off tone also saw broadly weaker indices, lower yields and higher levels of volatility. Despite the slew of data releases during the session, some positive and some negative – it’s Chinese Retail Sales data which caught the market’s attention and ultimately resulted in a negative risk tone. <\/p>\n\n\n\n
In the Currencies market, we spotted some buying interests for the CAD\/CHF<\/strong> by Intuitional traders, which began to kick off during yesterday\u2019s closing of the European session. Interestingly, the CAD\/CHF is seen to be positively correlated, and quite highly with the AUDCHF. <\/p>\n\n\n\n Overall, the break of London session is seeing weakness on the GBP,\u00a0AUD & the NZD,\u00a0while strength is building up for the EUR, JPY & the CHF.\u00a0<\/p>\n\n\n\n The times below are GMT+3<\/p>\n\n\n\n The euro\u202farea composite interest rate for new deposits with agreed maturity from households increased by 4 basis points to 0.32% in January 2020, and the interest rate for overnight deposits from households remained broadly unchanged at 0.02%.\u00a0The European Central Bank\u2019s ruling body is\u00a0likely to keep both its key interest rate and quantitative easing program steady in today\u2019s announcement<\/strong>, but don\u2019t be deceived by the apparent absence of news\u00a0or risks events.\u202f\u00a0<\/p>\n\n\n\n Potential instruments to Trade:\u00a0EUR crosses.<\/p>\n\n\n\n The\u202fcontrol group\u202fis all\u202fsales, excluding receipts from auto dealers, building-materials\u202fretailers, gas stations, office supply stores, mobile homes and tobacco stores. This filtered number is a more precise method of gauging consumer spending, and consumer spending is a large component of\u202fU.S.\u202fGDP. Economists expect the rebound to continue, perhaps reflecting the first half of the month, whilst supporting the hopes of a V-shaped recovery<\/strong>.\u202f <\/p>\n\n\n\n Potential instruments to Trade:\u00a0USD crosses.<\/p>\n\n\n\n US COVID-19 cases rose by 60,971 (Prev. +58,858) and the death toll rose by 773 (Prev. +351). Furthermore, AFP later tweeted that US cases rose by a record 67,632 citing tracker data, while a major newswire tally suggested US coronavirus cases rose by at least 67,889 to 3.52mln which was the 2nd largest daily increase on record. California COVID-19 cases rose by 11,126 (Prev. +7,346), while\u00a0Texas coronavirus cases increased by a new daily record of 10,791 and deaths rose by a record 110, according to the State Health Department (Newswires).\u00a0<\/p>\n\n\n\n Join us at our next Market Analysis Webinar via Zoom<\/strong>. <\/p>\n\n\n\n To join us today , click here<\/a><\/strong>. <\/p>\n\n\n\n To view our upcoming webinars, click here<\/a><\/strong>.<\/p>\n\n\n\n If you have any questions, please email our Education Centre<\/a>.<\/p>\n\n\n\n If you have any questions or require any assistance, please contact one of our support team members via our Live Chat or email\u00a0support@errante.net<\/a>.<\/p>\n\n\n\n We are Errante. Trading made personal<\/strong>.<\/p>\n\n\n\n Errante is regulated by the Seychelles Financial Services Authority (FSA) under license number [SD038<\/a>].<\/p>\n\n\n\nToday’s High Impact Events<\/strong><\/h2>\n\n\n\n
14.45 \u2013 ECB Interest & Deposit Rate Decision<\/strong><\/h3>\n\n\n\n
15.30 \u2013 US Retail Sales Control<\/strong>\u00a0<\/h3>\n\n\n\n
Coronavirus Status Update<\/strong>\u00a0<\/h3>\n\n\n\n