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DAILY MARKET REPORT

It is a busy week ahead for both the US Dollar and the Euro. Both Eurozone and US will publish their second-quarter GDP numbers on Thursday. EUR/USD started the week on positive note supported by a weaker US dollar and during the European session, the pair retreated to below 1.1700 from the daily high of 1.1725.

DAILY MARKET REPORT

It is a busy week ahead for both the US Dollar and the Euro. Both Eurozone and US will publish their second-quarter GDP numbers on Thursday. EUR/USD started the week on positive note supported by a weaker US dollar and during the European session, the pair retreated to below 1.1700 from the daily high of 1.1725.

EQUITIES

Global stocks trading mixed on Monday as Investors fears about rising tensions between the U.S. and China and surging coronavirus cases. Last week Wall Street closed lower, the Dow Jones declined 0.7% and the S&P 500 lost 0.2%. This week the investors and traders will closely monitor big US giants’ quarterly earnings results including FAANG group of companies and Starbucks, Pfizer, Boeing, Visa and Mastercard etc.

OIL

Crude oil price trading slightly lower on Monday after OPEC+ confirmed it would reduce the size of its output cuts to 7.7 million barrels a day from August 1st, which would add nearly 2 million barrels to daily production levels.

CURRENCIES

The dollar index trading near to 2- year low on Monday ahead of Fed's monetary policy decision on Wednesday. Meantime the commodity currencies the Australian dollar and New Zealand dollar failed to break the previous week highs of 0.7180 and 0.6690.

GOLD

Gold prices surged to a fresh all-time high of $1944 on Monday during the Asian session boosted by a large-scale decline in USD and escalating tensions between the US and China after Beijing ordered Washington to shut its Chengdu consulate.

Economic Outlook

On the data front, The IFO Business Climate indicator for Germany rose by 4.2 points from the previous month to a five-month high of 90.5 in July 2020, beating market expectations 89.3. “The German economy is recovering step by step,” IFO President Clemens Fuest said in a statement.

On Sunday, the US Biotech company Moderna said it has received an additional $472 million (€404.94 million) from the US government to support the development of its COVID-19 vaccine.

Coronavirus update:

The world has now seen over 16 million coronavirus cases with over 644,000 lives lost to COVID-19, according to the US-based Johns Hopkins University. The United States has become the worst-affected country, with more than 4.2 million diagnosed cases and at least 146,788 deaths. On Monday China reported 61 new COVID-19 cases, the highest number of coronavirus cases in three months. 

 

Technical Outlook

XAU/USD: The yellow metal trading steady above $1940 on Monday supported by $1900 psychological level.

audusd

The important levels to watch for today: Support- 1935 and 1920   Resistance- 1944 and 1953.

EUR/USD: The currency pair approaches to overbought zone after hitting a fresh year high of 1.1725.

cruse

The important levels to watch for today: Support- 1.1660 and 1.1630 Resistance- 1.1730 and 1.1770.

Quote of the day: Stick to your investment strategy - do not turn temporary declines to permanent losses - Warren Buffet     

 

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YouTube: Sự hiện diện mạnh mẽ trên mạng xã hội của Alphabet

YouTube: Sự hiện diện mạnh mẽ trên mạng xã hội của Alphabet

YouTube là một công ty con của Alphabet, một tập đoàn công nghệ với vốn hóa thị trường 1.7 nghìn tỷ đô la. Việc Google (sau này trở thành Alphabet) mua lại YouTube vào năm 2006 với giá 1.65 tỷ đô la đã trở thành một tài sản tạo ra lợi nhuận dài hạn cho Alphabet, đóng góp gần 11% vào tổng doanh thu của công ty. Trong quý 1 năm 2023, Alphabet báo cáo doanh thu tổng cộng là 69.8 tỷ đô la, tăng 3% so với cùng kỳ năm trước, với doanh thu hàng năm từ quảng cáo của YouTube đạt gần 20 tỷ đô la vào năm 2020. Việc thêm YouTube vào danh mục của Google đã mở rộng mô hình kinh doanh của công ty từ một công cụ tìm kiếm đơn thuần thành một nền tảng lưu trữ nội dung video, cho phép tạo ra các nguồn thu nhập bổ sung từ quảng cáo và nội dung trả phí của bên thứ ba. Mặc dù doanh thu quảng cáo của YouTube đã giảm trong quý 1 năm 2023, công ty vẫn là một nguồn thu lớn đáng kể cho Alphabet.

Mối đe dọa của suy thoái kinh tế treo lơ lửng trên thị trường dầu mỏ thế giới.

Mối đe dọa của suy thoái kinh tế treo lơ lửng trên thị trường dầu mỏ thế giới.

The global oil market is facing uncertainty due to the risk of recession, particularly with signals coming from China that its economy is not doing as well as expected. This has led to a downward trend in oil prices, with Brent crude trading below $76 per barrel on world markets. However, the oil slump has not had too much of a negative impact on the economy of the largest mining giants, according to Gulf Brokers. The first quarter results of Saudi Aramco, the world's largest mining company, showed a year-on-year decrease in net profit of approximately one-fifth to less than $32 billion.