Source: PaxForex Premium Analytics Portal, Technical Insight India imported $609 million worth of gold in June 2020, according to the country's Commerce and Industry Ministry. This is still significant, 77% below the level of the corresponding period last year ($2.7 billion), but represents a marked recovery compared to April and May of this year. In April, against the backdrop of the national lockdown in India, gold imports into the country actually stopped and amounted to only $3 million, while in May supplies remained at a...
Source: PaxForex Premium Analytics Portal, Technical Insight eBay will report earnings in two weeks. Analyst Scott Devitt on Tuesday confirmed eBay's share BUY rating while increasing the target price to $66 from $52. Last month eBay provided an update in which it disclosed global sales during May and improved its forecast for gross margin growth in the second quarter ranging from 23% to 26% in the second quarter. eBay, H4 Pivot: 58.97 Analysis: Provided that the asset is traded above 58.45, follow the recommendations...
Source: PaxForex Premium Analytics Portal, Technical Insight Britain has decided to stop using Huawei equipment for 5G and prohibit the purchase of Huawei components from the end of the year. The National Cyber Security Centre of Britain reported to the government on the change of security assessment of Huawei's presence in the British 5G network. The new U.S. sanctions against Huawei will negatively affect the supply of equipment to Britain. GBP/USD, 30 min Pivot: 1.2574 Analysis: Provided that the currency pair is...
Source: PaxForex Premium Analytics Portal, Technical Insight The USD/CHF currency pair is trading at 0.9427 and keeps moving within the correction and descending channel. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Indicator Cloud. This indicates a bearish trend for the currency pair USD/CHF, 30 min Pivot: 0.9419 Analysis: Provided that the currency pair is traded above 0.9405, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9419 Take Profit...
Source: PaxForex Premium Analytics Portal, Technical Insight The employment rate in Canada grew stronger than expected in June: The employment rate is +952900 vs. +700 thousand expected, pre. +289600; Unemployment rate 12.3% vs. 12.1% projected, pre. 13.7%; Full-time employment +488100 vs. pre. 13.7% 3. +219400; Partial employment +464800 vs. pre. +70300; Employment 1.8 million below the February level Hourly wage of employees with permanent employment +6.8% vs. +8.9% expected...
