FOREX TRADING STRATEGY JUL 1 - NEW MONTH

Jul 01, 2020
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A whole new month has come. Let's see what it brings us and from there we can find the best forex trading strategies.

Big move from Beijing

Beijing has asserted its strong new power over Hong Kong to control its law critics - from pro-democracy protesters to overseas press agencies - when the imposition of New national security laws make activists and business groups concerned about the city's attractiveness as a financial center.

The law, passed by legislators in China and signed by President Xi Jinping, allows life sentences for crimes including overthrowing state power and colluding with water forces. out. China showed its intention to impose laws on Hong Kong for weeks and eventually allowed extradition to the mainland.

The market of the new month

Asian stocks are poised to start July silently after the biggest quarterly rally since 2009 and this is the best performing quarter of US stocks since 1998. Investors are hitting Economic data prices better than US estimates amid concerns about new coronavirus infections and fragile trade relations with China. The futures market increased in Japan, decreased in Australia and the Hong Kong market closed for the holiday. The S&P 500 Index extended its upward momentum in the second quarter to 20% when a report showed consumer confidence has increased the most since 2011. Treasury and dollar bonds plunged. Gold traded near $ 1,800 an ounce. Oil prices rise.

US cases rise

Anthony Fauci, an infectious disease expert, told the Senate council yesterday that the United States is "going in the wrong direction" in an effort to prevent the new coronavirus and that the number of daily infections could double if the behavior is not changed. . Fauci said new cases of Covid-19 could be increased to 100,000 per day, up from the current 40,000. According to data collected by Johns Hopkins University and Bloomberg News, the number of coronavirus infections in the United States increased 48,096 cases to 2.61 million cases from the same day on Monday. The 1.9% increase is higher than the average daily increase of 1.6% in the past week. The European Union has extended a travel ban on Americans, arguing that the US response to the epidemic is not enough. A strain of the swine flu virus in Chinese pigs has shown it can also infect humans, proving that another pathogen capable of causing a pandemic awaits a chance to strike.

Security threat

The Federal Communications Commission of the United States (FCC) has designated Huawei Technologies and ZTE as national security threats, which is a step towards pushing Chinese manufacturers out of the U.S. market where consumers Small rural networks rely on their cheap network equipment. The FCC said this action means that federal subsidies primarily used by many small rural carriers may no longer be used to buy or maintain equipment manufactured by companies.

The FCC is increasingly scrutinizing Chinese companies as tensions rise between Beijing and Washington over trade, coronavirus and security issues. The agency is considering banning three Chinese phone companies and last year banned China Mobile from entering the US market.