What drives the market on July 8?
The market takes breath after the long rally. What opportunities do traders have today?
Greece will set up development bank to finance infrastructure projects
Greece is on the verge of setting up a development bank to finance startups, infrastructure projects, small businesses as well as export oriented companies, as the government's economic policy council informed on Friday.
The Hellenic Development Bank is going to be a state lender, which will complement commercial financial institutions to assist to fund surge as well as regional projects.
The bank will look for the participation of other state entities with adequate funding capacity to participate in its share capital and also cooperate with international financial institutions.
Greece's economy, heavily affected by the country's debt crisis, is currently struggling to revive after a multi-year deep downtime.
Other European development banks have been providing funds for investments. For instance, the European Bank for Reconstruction and Development is going to pump funds in Greece until the end of 2020 and actually hopes by 2018 its funding will hit the 2.0 billion euro mark.
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The US labor market is in focus again
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
How to trade on July 7?
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
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Risk-on is back. Market news and trade ideas on July 9
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
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