Skip to content Skip to footer

Tradeview’s Daily Digest – 17th June

Markets consolidate as U.S. sees rise in COVID cases

As fears of a second wave of coronavirus cases grew in China, with the capital Beijing under lockdown. Several U.S. cities also recorded a rise in new cases.

Texas, Arizona, Florida and Oklahoma were among the states that saw a record increase in new infections on Tuesday as businesses reopened.

Nevada also reported its highest single-day tally of new cases on Tuesday, up from a previous high on May 23. Hospitalizations are also rising or at record highs.

With some markets already pricing in a second wave, the S&P 500 and the Dow were largely flat on Wednesday, consolidating gains from earlier in the week.

“Parrot” Powell reiterates Fed willingness to do more

After his 2nd day of testimony in front of the senate banking committee. Jerome Powell, continued to state the Feds willingness to do all that is required to assist the economy. 

Soon after stating that the Federal Reserve would use its “ full range of tools” to aide a recovery, he went on to add, “If not contained and reversed, the downturn could further widen gaps in economic well-being that the long expansion had made some progress in closing,”

Markets have already priced in his comments, and were generally numb to the news. The Fed went on to confirm they will be moving away from ETFs and directing funds into corporate bonds.

French economy expected to contract by 17%

After months of lockdown, it has come as no surprise that France, like many other European countries has seen a contraction in the size of its economy.

However, in somewhat positive news, France’s economy should shrink less than expected in the second quarter as business activity began recovering in May

In a report by INSEE, they expect the euro zone’s second-biggest economy to contract by 17% in Q2 after a previous forecast of  20%.

The CAC in France rose on the news, before later consolidating at 5005

I believe in analysis and not forecasting.

Nicolas Darvas

Biggest Bull

AUDCAD: After starting the day at the support level of 0.93057, AUSCAD rallied to now trade at 0.93609. In one of the more bullish moves in a day where many markets consolidated.

Biggest Bear

Bitcoin: Trading as high as $9,566 at one point today, Bitcoin fell considerably as the day progressed. Dropping to as low as $9,344, before bouncing at the support.

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.

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.

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.

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.