Skip to content Skip to footer

Tradeview’s Daily Digest – 22nd June

Contents

Gold rallies, stocks stutter on COVID-19 fears

Gold climbed to as high as $1,764 on Monday, closing in on a 8 year high, as fears continue to grow of a second wave of coronavirus infections. 

This early flight to safety saw investors run to Gold, as fears for further coronavirus cases gripped markets in early trading on Monday. 

This came as  the World Health Organization announced more than 183,000 new coronavirus cases on Sunday, with parts of the U.S. recording a daily record for new infections since the start of the pandemic.

Florida reported 2,926 new cases on Monday morning. As a result the S&P 500 and Dow Jones indexes were largely unchanged

U.S. existing home sales fall to near 10 year low

Data released today showed that in the month of May, U.S. home sales dropped to their lowest level in more than 9-1/2 years.

This news has, in the eyes of many, strengthened expectations of further contractions in the housing market in the second quarter following the uncertainty caused by the COVID-19 pandemic.

Existing home sales fell 9.7% to an adjusted annual rate of 3.91 million units last month, the lowest level since October 2010.

Although retail sales have recovered, home purchases remain a key indicator of the U.S. economy.

Coronavirus reproduction rate growing in Germany

After being one of the least impacted European nations during the health crisis, Monday saw the coronavirus reproduction rate in Germany jump.

This increase saw the rate move from being  1.8 on saturday, up to 2.88 the day after.

With a reproduction rate of 2.88, this means that  out of 100 people who contracted the virus, a further 288 other people will get infected. 

The DAX initially sold off on the news, before recovering later in the day.

“The fundamental law of investing is the uncertainty of the future.”

Peter Bernstein

Biggest Bull

Gold: Gold climbed by as much as $19 on Monday as the WHO reported an increase in COVID-19 cases. However as fears calmed the gains dropped to a $10 move.

Biggest Bear

USDCAD: After climbing to its resistance level on Friday, USDCAD has been able to break out and as a result sold off at the 1.36 level.

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: 4th Floor Harbour Place 103 South Church St, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.
Website: www.tradeviewforex.com

TVM Global 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.

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