FOREX TRADING STRATEGY JUL 22 - UP AND DOWN

Jul 22, 2020
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Today we continue to look at the hottest updates of the day. Let's see what we should do based on those news.

Hackers accused

The United States accuses two Chinese hackers working for Beijing of stealing or attempting to steal terabytes of data, including research on coronavirus, from Western companies in 11 countries - this is the second in a week, a foreign country was criticized for hacking vaccine-related information. The Justice Department said the two men were supported by the Chinese Ministry of State Security, and that contractors were mainly concerned about the defense system and weapons that had been hacked along with medical research.

forex news July 22

Allegations of intimidation will further escalate existing tensions between the United States and Beijing; Concerns about intellectual property theft have long been a source of tension between the two powers. Meanwhile, a group of hackers tied to the Russian government has been accused of using a combination of known security holes and custom malware to infiltrate organizations involved in developing vaccines for Covid-19.

Potential vaccine

The researchers said in the New England Journal of Medicine that the Covid-19 antibodies in mildly symptomatic patients weakened rapidly, raising concerns that their immunity from infection in the The future may not last too long. European regulators are preparing for the ability to approve the vaccine this year after a series of promising results, even as comments from health professional managers in the UK reflect uncertainty. Certainly in the medical community. These are the top candidates who can create the first shot against a pandemic. The Centers for Disease Control and Prevention found that more people were infected than previously reported in some areas of the United States, while yesterday President Donald Trump restarted meetings. quick on its coronavirus by warning of an increase in virus infections in the United States.

Market on Wednesday

Asian stocks seem set to fall sharply from the beginning of the week as investors weighed the prospects of a global recovery from the pandemic and reviewed additional earnings reports. The S&P 500 futures had a fairly quiet start to the Asian session after the benchmark climbed slightly earlier, despite having closed well at the top of the session after Senator Mitch McConnell doubted the possibility. potential gain of a new rescue bill before some current benefits expire. Technology stocks caused the NASDAQ to go down. Stock futures have slumped in Japan, Hong Kong and Australia. European stocks started the week with a gain after European Union leaders won a rescue package, helping the euro reach the highest level since 2019.

Downfall in Korea

South Korea fell into recession in the second quarter, official data is expected to be released on Thursday, after the non-blockade strategy and stimulus package could not compensate for the decline in exports. Gross domestic product is expected to fall 2.4% in the previous quarter from March to March, according to an average estimate of economists surveyed by Bloomberg. A negative outcome will mark the first recession since 2003. South Korea has taken a different approach to addressing the virus crisis, relying on mass testing and tracing instead of closing. major sectors of the economy. The government has also taken various initiatives to increase consumption, cash out to all households and encourage retailers to launch promotions. To date, fiscal stimulus has committed up to 14% of GDP.

Chinese innovation

A plan by President Xi Jinping, cherished by the end of 2018, to liberalize China's restricted stock market and prevent family technology companies from flocking to New York turned out to be an earlier move. The reforms took the form of a relatively small, new location in Shanghai, called the Star Board, that began trading just a year ago.

forex news July 22

The goal is to abide by Chinese standards: Minimize bureaucracy and loosen controls on what kind of companies can be listed as well as how much their shares can move. More than 130 companies raised a total of $30 billion from the Star Board in 12 months, although it was quiet after the first few weeks of boom, high-profile candidates include Jack Ma's Ant Group. and leading Chinese chip manufacturer is bringing Star Board broker hot again.