Source: PaxForex Premium Analytics Portal, Technical Insight On 31 July, representatives of the Foreign Ministry of South Korea, the USA, Australia, New Zealand, Vietnam, Japan, and India held a telephone conference during which they discussed the situation with the coronavirus and issues related to the resumption of economic activity. It was reported by Yonhap News, with reference to representatives of the South Korean Foreign Ministry. According to them, representatives of seven countries discussed the epidemiological situation...
Source: PaxForex Premium Analytics Portal, Technical Insight The global demand for gold in April-June 2020 reduced by 11% (year to year), to 1.016 thousand tons, the World Gold Council (WGC) has calculated. With this in mind, at the end of the half-year, the demand decreased by 6% and amounted to 2.076 thousand tons. The main factor affecting the gold market in the 2nd quarter was the COVID-19 pandemic, explains WGC. Against this background, consumer demand fell sharply. On the other hand, it also supported investment demand. The...
Source: PaxForex Premium Analytics Portal, Technical Insight The Senate passed a law extending the federal government's emergency wage subsidy to employers severely affected by the COVID-19 pandemic. The package was handed over by the House of Commons last week. It also includes lump-sum payments to people with disabilities, who have had to face higher costs. USD/CAD, 30 min Pivot: 1.3420 Analysis: Provided that the currency pair is traded below 1.3450, follow the recommendations below: Time frame: 30 min...
Source: PaxForex Premium Analytics Portal, Technical Insight On Wednesday, July 29, a meeting of the Legal Subcommittee on Antimonopoly Policy of the US Congress was held in Washington. For more than a year now, Congress has been investigating major technology giants such as Facebook, Google, Amazon, and Apple as to whether they abused their dominant position in the market. "Any move by one of these companies can have a profound and lasting impact on hundreds of millions of people," said subcommittee chairman David...
Source: PaxForex Premium Analytics Portal, Technical Insight Yesterday evening, during an accompanying press conference on the results of the FOMC meeting on monetary policy, the Head of the Fed Fed J. Powell said: Household spending is recovering thanks to timely support for fiscal policy; Household expenses recouped about half the fall; There was strong employment growth in May/June; The contraction of the economy at the end of Q2 will be the largest in history; The Fed will do its best for as long as...
