This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
Asian markets show mixed performance
On Thursday, Asian markets were generally mixed because the Chinese government uncovered its plans to resume trade negotiations with America in an attempt to soothe tensions between the two leading economies.
A Chinese delegation led by, Vice Minister of Commerce, Wang Shouwen, is going to hold negotiations with American representatives in August. That’s what the Ministry of Commerce actually confirmed on Thursday.
The Turkish meltdown kept attracting attention because Qatar pledged to invest up to $15 billion in this Middle Eastern country. Following this news, Turkey’s currency ascended over 8% versus the evergreen buck.
Additionally, Tencent Holdings Ltd revenue report appeared to be in focus in morning trade right after the company shocked investors with its first sag in revenue for about 13 years.
The report showed up after watchdogs had the sale of its blockbuster video game dubbed Monster Hunter: World banned several days after its official launch on August 8 because watchdogs obtained many complaints as for the game, which was sold more than 8 million copies around the globe.
The Shanghai Composite index headed south by 0.1% in China, while the Shenzhen Component managed to gain nearly 0.1%. As for the Hang Seng index, it slumped by 0.5% in Hong Kong.
In Japan, Nikkei 225 leapt by up to 0.1% notwithstanding data disclosed that the country’s exports managed to jump by 3.9% year-on-year last month, which is quite short of a 6.3% ascend anticipated by market experts as well as a 6.7% year-on-year surge in June.
However, trade surplus with America went down by 22.1% year-on-year reaching 502.7 billion yen.
In addition to this, Australia’s S&P/ASX 200 managed to leap by 0.02%. The KOSPI index dipped by nearly 0.8% in South Korea, with big names such as SK Hynix Inc as well as and Samsung Electronics losing respectively 4% and 3%.
Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Virgin Galactic (SPCE) will launch Richard Branson to space on July 11, aiming to beat Jeff Bezos.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.