Earnings Season is In Focus
Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
The Yen Plunges Together with Gold
Greetings! Let’s start the week together. First, significant events. Second, daily news. Everything you need to know in a single post. Enjoy!
Economic calendar
The time zone is GMT+3. Check yours here.
Monday:
- 12:00, EU CPI and Core CPI Flash Estimate y/y
Tuesday:
- Swiss Bank holiday
- 07:30, Australian Cash Rate and Rate Statement
- 17:00, US ISM Manufacturing PMI and Prices
- 17:00, US JOLTS Job Openings
Wednesday:
- 01:45, NZD Unemployment Rate
- 15:15, US ADP Non-Farm Employment Change
Thursday:
- OPEC-JMMC Meetings
- 09:30, Swiss CPI m/m
- 14:00, BOE Monetary Policy Report and Bank Rate
- 14:30, BOE Gov Bailey Speaks
- 17:00, US ISM Services PMI
Friday:
- 15:30, Canada Unemployment Rate
- 15:30, US NFP, Average Hourly Earnings, and Unemployment Rate
News to follow today
- China’s official July Manufacturing PMI is 49.3 (vs. expected 49.2). USDCNH is moving sideways.
- HK50 is up another 5.4% since last Friday following news about economic stimulus from the Chinese government.
- SEC asks Coinbase to stop trading everything but BTC. Coinbase rejected the offer. BTCUSD gained 0.5% at the beginning of the day.
- According to Bloomberg, hedging Against SP500 (US500) Drop Has Never Been Cheaper In History - a massive bearish sign for the US stock market.
- The Swiss National Bank posted a second-quarter loss of 13.20 billion Swiss francs ($15.14 billion), it said on Monday, as interest rate hikes by other central banks dented the value of its massive bond holdings.
- The Bank of Japan started an unplanned bond buying today. USDJPY is skyrocketing.
Gold analysis for the week ahead
Please note that gold analysis in the Telegram channel is a short-term trade. On a bigger scale, we have the following: the metal started a local downtrend. XAUUSD may reach the resistance of $1966 before sliding lower. However, a decline from the current level ($1955) is also possible.
The target for the gold lies at the support of $1945. The breakout of this level would mean gold is aimed at $1935.
Have a profitable day!
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