{"id":11634,"date":"2020-07-15T07:24:23","date_gmt":"2020-07-15T07:24:23","guid":{"rendered":"https:\/\/errante.net\/trading-analysis-15th-july-2020\/"},"modified":"2020-07-15T07:24:23","modified_gmt":"2020-07-15T07:24:23","slug":"trading-analysis-15th-july-2020","status":"publish","type":"post","link":"https:\/\/errante.net\/th\/trading-analysis-15th-july-2020\/","title":{"rendered":"Trading Analysis – 15th July 2020"},"content":{"rendered":"\n

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

Asian stocks leaped today as news of a coronavirus vaccine initiated optimism in the markets whilst boosting risk appetite amongst investors. Simultaneously, the euro rose to a four-month high on the prospect of stimulus ahead of a crucial EU summit. Japan’s Nikkei (N225<\/a>) added 1.5% to reach its highest since June 10 while Australia’s benchmark index was up 1%. Chinese shares gained modestly with the blue-chip CSI300 index (CSI300<\/a>) ticking up 0.3%. <\/p>\n\n\n\n

One of the surprising asset classes with its\u2019 performances that has been sparked off by a recent breakout, is Silver. An unprecedented amount of fiscal and monetary stimulus this year has fueled the metal\u2019s surge to fresh yearly highs. Additionally, the injection of liquidity into financial markets over the last 6 months has been extreme, with a measure of the money supply (M1 money stock), surging above $5 trillion, off the back of an extraordinary response from the Federal Reserve. <\/p>\n\n\n\n

As for the Oil, OPEC+ JTC sees 107% compliance rate with production cuts in June, according to an OPEC+ external source, while it was separately reported that the JTC held a meeting to prep for the easing of the cuts to 7.7mln BPD according to Energy Intel’s Amena Bakr (Newswires\/Twitter). OPEC MOMR stated that crude oil production in June decreased further by 1.89mln BPD to average 22.27mln BPD in compliance with the Conference decisions and above 100% conformity, according to secondary sources. <\/p>\n\n\n\n

As for the currencies market, the USD traded rather cautiously, particularly against risk-sensitive currencies, following news of progress in vaccine development. The EUR on the other hand rose to as high as $1.1423, its strongest since March 10 and not far off its peak so far this year from the $1.1495 level. EUR also has been aided by hopes of the European Union to agree at its summit later this week, on a \u2018rescue financing package\u2019 that will limit the economic damage to the bloc from the coronavirus pandemic. <\/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

14.00 \u2013 Canada BOC Interest Rate Decision<\/strong><\/h3>\n\n\n\n

Since April of this year, the Central bank of Canada has added almost C$7 billion in federal bonds a week to its balance sheet to sop up the supply, becoming the government\u2019s main financier through the creation of new money. The process, known as quantitative easing, allows policymakers to keep borrowing costs low. <\/p>\n\n\n\n

Potential instruments to Trade: CAD crosses especially EUR\/CAD on Daily.<\/p>\n\n\n\n

22.45 \u2013 New Zealand Consumer Price Index (CPI)<\/strong><\/h3>\n\n\n\n

The Reserve Bank (RBNZ) has forecasted a 0.7% fall in the quarter while bank economists’ forecasts are in possibly a slightly less tight range than usual. The BNZ and Westpac are\u202falso going for -0.7%, while ANZ has -0.6%, Kiwibank has -0.5% and\u202f ASB is picking -0.4%. <\/p>\n\n\n\n

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

Coronavirus Status Update<\/strong> <\/h3>\n\n\n\n

US COVID-19 cases rose by 58,858 (Prev. +60,469) and death toll rose by 351 (Prev. +312) (Newswires). New York COVID-19 cases +912 (Prev. +557), hospitalisations at 820 (Prev. 792); death toll 5 (Prev. +10); Positivity rate 1.5% (Prev. 1.08%). Florida COVID-19 cases +3.3% (Prev. +4.7%), deaths +133 to 4,514 which was the highest daily increase since the pandemic commenced (Newswires). <\/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 join us tomorrow, 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 support@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\n

To find out more about Errante, visit https:\/\/errante.net\/<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Today’s Market Outlook Asian stocks leaped today as news of a coronavirus vaccine initiated optimism in the markets whilst boosting risk appetite amongst investors. Simultaneously, the euro rose to a four-month high on the prospect of stimulus ahead of a crucial EU summit. Japan’s Nikkei (N225) added 1.5% to reach its highest since June 10 while Australia’s benchmark index was up 1%. Chinese shares gained modestly with the blue-chip CSI300 index […]<\/p>\n","protected":false},"author":6,"featured_media":11635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7718,7712],"tags":[8454,8407,7715,8405,8388,8287,7717],"yoast_head":"\nTrading Analysis - 15th July 2020 | Errante<\/title>\n<meta name=\"description\" content=\"This week has plenty of trading opportunities. 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