{"id":173698,"date":"2020-07-15T11:50:04","date_gmt":"2020-07-15T15:50:04","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=173698"},"modified":"2020-07-15T11:16:47","modified_gmt":"2020-07-15T15:16:47","slug":"a-rebound-in-china-q2-gdp","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/07\/a-rebound-in-china-q2-gdp\/","title":{"rendered":"A Rebound In China Q2 GDP?"},"content":{"rendered":"
July 15, 2020<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

US-China Escalated Tensions Keep Sentiment Soft<\/strong><\/h3>\n

The US index closed back to the 96 lows yesterday as US-China tensions saw investors become more cautious.<\/p>\n

US researchers say that the recent\u00a0COVID-19 vaccinations<\/a>\u00a0have proved successful. This comes as more states reveal record fatalities, somewhat balancing risks.<\/p>\n

Euro Continues Rally on Merkel Message<\/strong><\/h3>\n

Heavy selling pressure on the US dollar spurred the EURUSD, rising above 1.14 for the first time in more than a month.<\/p>\n

The upcoming EU leaders meeting in Brussels, beginning this Friday, kept adding to the euro\u2019s sentiment as Merkel sent a direct message to Frugal four:<\/p>\n

\u201cDon\u2019t think you can slash the bloc\u2019s economic recovery package<\/em>.\u201d<\/p><\/blockquote>\n

Huawei In the Spotlight as UK Bows Out<\/strong><\/h3>\n

China\u2019s ambassador to the UK has called Britain\u2019s decision to ban Huawei from its 5G network as \u2018disappointing and wrong\u2019. The fallout is claimed to cost an extra \u00a32bn. Another blow to the UK economy?<\/p>

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GBPUSD closed at virtually the same price it opened at yesterday as traders took a breather. This follows a bloodbath last Monday where cable lost ~8%.<\/p>\n

Asian Markets Fear Another Lockdown<\/strong><\/h3>\n

There was virtually no improvement in the price of the USDJPY pair. Uncertainty grew in Tokyo as their virus alert levels were raised with new cases increasing.<\/p>\n

The Aussie remained resilient with a close of 0.32% over the US dollar, even though job growth stalled. Victoria has now entered stage four lockdown, which suggests a cap in the recent rally.<\/p>\n

Equities Positive on Economic Data<\/strong><\/h3>\n

All US equities finished on a positive. A further boost was evident to the S&P as JP Morgan delivered stronger than expected Q2 results during the pandemic.<\/p>\n

US Consumer prices rebounded in June from a 3-month decline as business reopened. Despite recording an 8 year high, inflation concerns suggest further liquidity injections from the Fed.<\/p>\n

This might add a bitter taste to the already $3tn stimulus as unemployment benefits remain at inflated levels. Inflation, though, remains stoked.<\/p>\n

Gold Holds Firm Over Global Tensions<\/strong><\/h3>\n

Gold held firm above the round $1800 level amidst the recent tensions between the US and China, and the UK and China.<\/p>\n

Damaging relations are bolstering the yellow metal higher, offsetting the hope brought by the antiviral vaccination.<\/p>\n

Oil Climbs on API Crude Draw<\/strong><\/h3>\n

Oil maintained its price above $40 as the API reported a huge draw in crude oil inventories.<\/p>\n

Today\u2019s EIA crude oil inventories report could determine if WTI holds onto the lofty level or it sets off for a dip.<\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex US-China Escalated Tensions Keep Sentiment Soft The US index closed back to the 96 lows yesterday as US-China tensions saw investors become more cautious. US researchers say that the recent\u00a0COVID-19 vaccinations\u00a0have proved successful. This comes as more states reveal record fatalities, somewhat balancing risks. Euro Continues Rally on Merkel Message Heavy selling pressure […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-173698","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/173698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=173698"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/173698\/revisions"}],"predecessor-version":[{"id":173712,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/173698\/revisions\/173712"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=173698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=173698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=173698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}