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DAILY MARKET REPORT

The electric car maker Tesla (NASDAQ: TSLA) will announce its second-quarter 2021 financial results after market hours on Monday.

DAILY MARKET REPORT

The electric car maker Tesla (NASDAQ: TSLA) will announce its second-quarter 2021 financial results after market hours on Monday, July 26. The company is expected to post quarterly earnings of $0.94 per share and revenues are expected to be $11.4 billion.

$TSLA key technical levels to watch today:

Support: $620 and $590

Resistance: $670 and $700

EQUITIES

US stock futures trading slightly lower on Monday ahead of big earnings week and the Federal Reserve FOMC meeting. On the other hand, the European and Asian stocks traded lower after the Chinese government continued its regulatory clampdown.

OIL

Crude oil prices rebounded from the Asian session lows. During the Asian session, the oil prices slipped as investors remain concerned about a rise in coronavirus cases tied to the highly contagious Delta variant.

CURRENCIES

In the currency market, the EURUSD retreat from the early session gains following the release of weaker-than-expected German IFO data. Meanwhile, the British pound holding the gains against the US dollar and Euro.  

GOLD

The precious metal started the new week on a positive note. At the time of writing, the metal trades above $1808. Overall, the momentum remains bullish throughout the European session.

Economic Outlook

On the data front, the German Ifo Business Climate fell to 100.8 in July 2021, compared to the market expectations of 102.1.

This week the main highlights of the economic calendar will be the FOMC meeting, US GDP, and the inflation data from Eurozone, Australia, and Canada.

Coronavirus update:

Worldwide, more than 193 million people have been confirmed infected and more than 4.1 million have died. The United States has confirmed over 34.2 million cases and has had more than 610,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook

GBPUSD: The currency pair hovers near the previous week highs. If the pair break above this area, then the next crucial resistance levels to watch today 1.3810 and 1.3840.

euraud

The important levels to watch for today: Support- 1.3730 and 1.3710 Resistance- 1.3810 and 1.3840.

GOLD: The metal trading above $1800. For today, If the bullish momentum continues then the next upside levels to watch $1815 and $1818. On the downside side, the immediate support at $1798.

gold neww

The important levels to watch for today: Support- 1798 and 1790 Resistance- 1815 and 1820.

Quote of the day: Individuals who cannot master their emotions are ill-suited to profit from the investment process.  Benjamin Graham

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DAILY MARKET REPORT

DAILY MARKET REPORT

The US reported lower-than-expected US inflation numbers for July on Wednesday. The consumer price index report showed that US inflation fell to 8.5%

DAILY MARKET REPORT

DAILY MARKET REPORT

Online gaming platform Roblox Corporation (NYSE: RBLX) is set to report financial results for the company’s second-quarter 2022 financial results today after the market close. Roblox is expected to post a loss per share of $0.26 and revenues are expected to be $643 million.

DAILY MARKET REPORT

DAILY MARKET REPORT

This week the global market witnessed more aggressive rate rises by the RBA and BOE, and investors are now turning their eye on the release of US labor market data today. The US Bureau of Labor Statistics (BLS) will release the July NFP numbers today at 12.30 GMT.

DAILY MARKET REPORT

DAILY MARKET REPORT

Today all eyes are on the Bank of England monetary policy decision which is set to be announced at 11:00 GMT. The BOE expected to raise interest rates by 0.50% at its meeting today, its largest increase for more than 25 years.