Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Market updates on July 30
Information is not investment advice
Key events ahead:
South African unemployment rate – 12:30 MT time.
American CB consumer confidence – 17:00 MT time
- GBP/USD continues to go down on the fears of a no-deal Brexit. At the start of today's Asian trading session, the pound tested the lows at 1.2118. After that, it managed to recover a little towards the resistance 1.2197. However, the downside pressure is still high, and ADX confirms that. If bears take over the market once again, the cable will retest the recent low at 1.2118. The next support will lie at 1.2017. If the British pound is supported, the retest of the 1.2197 level with the following breakout will help the pair to rise further to the 1.2225 and 1.2269 levels.
- US trade Representative Robert Lighthizer and his team of negotiators will meet with Chinese side today to discuss trade. If the outcome is positive, the Australian dollar may be supported. On H4, AUD/USD continues to move within the downtrend. The next support for the aussie will lie at 0.6881. If this level is broken, this will provoke a further fall to the 0.6866 level. In case of the movement to the upside, the first resistance will lie at 0.6911. After that, pay attention to the 0.6932 level.
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
The market sentiment remains risk-off amid rising virus cases around the world and fears over new restrictions and lockdowns.