Skip to content Skip to footer
U.S. Economy Shrinks by Record in Q2

Today’s Waves – 30th July

U.S. Economy Shrinks by Record in Q2

U.S. economy shrunk by the largest amount on record in Q2, with GDP contracting by 32.9% which is the largest since the great depression.

The move, although dire, was better than the 34.1% decline expected by analysts. As a result, the S&P500 dropped by 0.82%, falling to the recent 3,196 floor. The NASDAQ fell by 0.88%.

Tech Titans now Focus on Earnings, After Yesterday’s Testimony

On Wednesday U.S. lawmakers grilled the CEO’s of the country’s largest tech companies, in a Zoom hearing.

Today, attention now turns to the closing bell where Apple, Amazon, Facebook and Google will report their Q2 earnings.

As the above has highlighted, Q2 was the worst on record for the United States since the Great Depression.

Could this have a financial impact on big tech? Or will they remain unscathed?

German Inflation Lowest in 4 Years

The coronavirus crisis continues to impact the inflation rates of economies across the globe, today was the turn of Germany.

The European powerhouse reported that inflation for July was at -0.1%, which is the lowest reading in more than four years.

As a result of the news, the German DAX index fell to its lowest level since the beginning of July.

The DAX currently trades at 12,388 in the futures market.

Quote of the day: Losses are necessary, as long as they are associated with a technique to help you learn from them

David Sikhosana

Biggest Bull

GBPUSD: Cable today awoke from a brief consolidation at the 1.296 level to rally to a daily high of 1.30728. Could this be heading to the 1.32 resistance?

Source: Tradeview MT4

Biggest Bear

GDAXI (futures): DAX futures fell today on the news that Europe’s largest economy saw inflation fall to its lowest level in 4 years. The decline saw prices hit a 4-week low.

Source: Tradeview MT4

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.
Website: www.tradeviewforex.com

Tradeview Asia Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.
Website: www.tvmgloballtd.com

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.
Website: www.tradeview.eu

Tradeview Financial Markets S.A.C Global

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.
Website: www.tradeviewlatam.com