Skip to content Skip to footer

Tradeview’s Daily Digest – 18th June

U.S. Jobless claims remain in the millions

Another week saw more modest declines in the number of Americans filing for unemployment benefits. The number today was reported to be 1.5 million versus the expected 1.3 million. 

Although the jobless claims have been on the decline on a week-to-week basis since the record number of claims in March, the speed of the decreases has slowed.

This comes as a second wave of layoffs has begun with some companies battling weaker levels of demand, which supports the Fed’s views that the economy faces a long and difficult recovery from the COVID-19 recession.

The main benchmark U.S. indices were slightly down on the news. 

BOE keep rates unchanged, whilst expanding bond buying

On Thursday, the Bank of England decided to keep its benchmark interest rate at 0.1%.

This came as no surprise to the markets, as the majority of the world’s top central banks have recently opted to keep rates unchanged and opt for further stimulus and QE instead.

In continuing that trend, the BOE  also announced it will expand its asset-purchasing programme by a further £100bn as part of efforts to tackle the impact of Covid-19 on the British economy.

IMF warns the contraction in the U.S. to worsen

On Thursday the IMF stated that they expect that the potential economic contraction in Q2 could be worse than many in the U.S. have forecasted.

The International Monetary Fund is set to release its updated World Economic Outlook on June 24, which will outline the full details of their forecasts. 

Earlier projections in April had called for the U.S. economy to contract 5.9% in 2020, with a rebound to 4.7% growth in 2021.

We want to perceive ourselves as winners, but successful traders are always focusing on their losses.”

Peter Borish

Biggest Bull

USDZAR: rallied on Thursday as the crossover of the 10 day and 25 day moving averages continued to mature. The rate when up to as high as 17.50, after starting at 17.14

Biggest Bear

EURUSD: After breaking out of the recent floor of 1.12371, EURUSD continued its decline to as low as 1.11857 on Thursday.

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.