Skip to content Skip to footer

Tradeview’s Daily Digest – 19th June

FTSE 100 rallies as UK Retail sales beats estimates.

After a somewhat quiet week in which many markets consolidated, Friday provided markets a spark as we head into the penultimate week of June.

In the UK, retail sales increased by  12% month-on-month in May. Which is almost double the estimated 6.3% increase, and a huge swing from April’s 18% contraction.

This comes as like many other nations around the world, the UK slowly lifted lockdown measures.

The FTSE 100 rose to as high as 6,319 on the initial news.

Nasdaq neared record high, prior to resistance holding

Last week saw U.S. stock indices experience huge falls, as fears grew of a new surge of COVID-19 cases. Those fears saw markets consolidate for the majority of this week, until today.

Early trading on Friday saw the Nasdaq climb to as high as 10,123 as it was reported that China was planning to accelerate purchases of American farm goods to comply with the phase one trade deal with the U.S. 

This run saw the index reach the high, which many now see as being a resistance level.

Since reaching the high of the day, the Nasdaq has since sold off, and now trades below 10,000.

EU no closer to final stimulus agreement

Since agreeing to a COVID-19 rescue package in April, EU leaders have yet to finalize the deal and have it agreed by all member nations.

On Friday, EU leaders agreed that urgent action was needed to haul their coronavirus-hit economies out of the deepest recession since World War II.

As a result they arranged a formal in person meeting  in mid-July to negotiate a long-term budget and economic rescue package worth 1.85 trillion euros.  It is seen as an imperative for the EU to get this deal across the line.

“Frankly, I don’t see markets; I see risks, rewards, and money.”

Larry Hite

Biggest Bull

Gold: Gold broke the $1,730 resistance on Friday, going to as high as $1,744 . This came as the metal was mainly in consolidation this week. 

Biggest Bear

Nasdaq: After nearing a new record high on Friday, the tech heavy Nasdaq sold off at the resistance level of 10,123.41.

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