Market Update 26/07/2021

July 26, 2021


The EURUSD pair over the last trading week has been settled within the 1.1825 – 1.1752 range, after breaking the 1.1795 resistance level. This week is packed with key economic data that should motivate the pair to finally break out of this range, with the US Fed interest rate decision and Q2 GDP data, the EU CPI figures and the ECB Publishes account of the Monetary policy meeting. The strong area of support still stands around the 1.1700 level, with the first resistance level that needs to be broken to gain some upwards momentum is at 1.1850, there should be a much clearer picture on the direction of this pair come this Friday.



Key Economic Data


Below is the high impact news for this week, do not allow yourself to be caught out by high impact forex news.


Date Event Time (GMT+3) Forecast Previous
Monday, July 26, 2021
EUR German Ifo Business Climate Index (Jul) 11:00 102.1 101.8
USD New Home Sales (Jun) 17:00 800K 769K
Tuesday, July 27, 2021
USD Core Durable Goods Orders (MoM) (Jun) 15:30 0.80% 0.30%
USD CB Consumer Confidence (Jul) 17:00 124.1 127.3
Wednesday, July 28, 2021
AUD CPI (QoQ) (Q2) 04:30 0.70% 0.60%
CAD Core CPI (MoM) (Jun) 15:30 0.40% 0.40%
USD Crude Oil Inventories 17:30 - 2.108M
USD FOMC Statement 21:00 - -
USD Fed Interest Rate Decision 21:00 0.25% 0.25%
USD FOMC Press Conference 21:30 - -
Thursday, July 29, 2021
EUR German Unemployment Change (Jul) 10:55 -25K -38K
EUR ECB Publishes Account of Monetary Policy Meeting 14:30 - -
USD GDP (QoQ) (Q2) 15:30 8.60% 6.40%
USD Initial Jobless Claims 15:30 - 419K
USD Pending Home Sales (MoM) (Jun) 17:00 0.50% 8.00%
Friday, July 30, 2021
EUR German GDP (QoQ) (Q2) 09:00 2.00% -1.80%
EUR CPI (YoY) (Jul) 12:00 2.00% 1.90%
CAD GDP (MoM) (May) 15:30 -0.30% -0.30%


Daily Currency Heatmap


On the Daily currency Heatmap we can see that the Canadian Dollar weakness continues from last week and is joined by the Australian Dollar and the New Zealand Dollar. The Japanese Yen is showing the most strength against the other pairs, in the recent days.





Gold is still currently trading around the $1808 price level, since our last look at gold it tested the $1824 resistance once again, before retreating to the $1795 area of short-term support. The $1800 level still serves as a psychological support level. Over the past week the precious metal has been ranging between the $1824 & 1794 Price levels, this may change this week with a lot of key US economical data to be released. The key level of resistance is the $1824 level a break of this level may see gold rise to the $1850 - $1862 range. Our strong support is still in the $1750-$1747 area.



*Source Calculator


In the above table we can see the continuation of the decline in the gold volatility against the US dollar, although in this week’s economic data on Wednesday there is the FED’s Interest Rate Decision. This may cause the volatility of the precious metal to increase especially during the build up to the announcement, even if the rate does not change the rate from the previous 0.25%.


Stocks to Watch


Earnings: Below are the stocks to monitor for the rest of the week will announce their earnings.

Monday, July 26, 2021 Stock EPS Forecast Revenue Forecast Market Cap Time
US Tesla (TSLA) 0.9364 11.53B 619.79B After Market Close
US Lockheed Martin (LMT) 6.53 16.94B 105.83B Before Market Open
UK Philips (0LNG) 0.4068 4.2B 35.31B Before Market Open
UK Michelin (0OFM) - 5.41B 24.22B After Market Close
UK Ryanair (RYA) -0.2437 392.62M 18.42B -
US Hasbro (HAS) 0.481 1.16B 12.71B -
Tuesday, July 27, 2021 Stock EPS Forecast Revenue Forecast Market Cap Time
US Apple (AAPL) 1.01 73.26B 2.48T Before Market Open
US Microsoft (MSFT) 1.91 44.06B 2.18T Before Market Open
US Alphabet A (GOOGL) 19.24 56.19B 1.78T Before Market Open
US Visa A (V) 1.34 5.85B 493.03B Before Market Open
US United Parcel Service (UPS) 2.79 23.19B 184.24B After Market Close
US Starbucks (SBUX) 0.7744 7.26B 148.43B Before Market Open
US Raytheon Technologies (RTX) 0.9291 15.83B 130.01B After Market Close
US 3M (MMM) 2.29 8.53B 116.22B -
US AMD (AMD) 0.5414 3.62B 111.96B After Market Close
Wednesday, July 28, 2021 Stock EPS Forecast Revenue Forecast Market Cap Time
US Facebook (FB)   3.04   27.85B 1.05T After Market Close
US PayPal Holdings Inc (PYPL)   1.12   6.27B 362.44B After Market Close
US Shopify Inc (SHOP)   0.9711   1.05B 256.43B Before Market Open
US Pfizer (PFE)   0.9672   18.62B 233.31B -
US McDonald’s (MCD)   2.11   5.58B 181.29B Before Market Open
US Qualcomm (QCOM)   1.68   7.53B 163.42B -
US Bristol-Myers Squibb (BMY)   1.89   11.29B 152.59B Before Market Open
US Boeing (BA)   -0.8103   16.72B 129.55B -
UK Rio Tinto PLC (RIO)   7.45   33,248M 97.96B Before Market Open
Thursday, July 29, 2021 Stock EPS Forecast Revenue Forecast Market Cap Time
UK Mitsubishi Electric (MELM)   19.25   993.39B 3.22T -
UK Panasonic (0QYR)   16.69   1,641.79B 3.08T -
US (AMZN)   12.24   115.33B 1.84T After Market Close
US Mastercard (MA)   1.74   4.36B 389.74B -
UK L'Oreal (0NZM)   --   7.32B 215.10B -
UK Merck&Co (MRK)   1.4   11.09B 196.34B -
US T-Mobile US (TMUS)   0.5091   19.36B 179.55B After Market Close
UK AstraZeneca (AZN)   0.9029   7.4B 129.72B Before Market Open
US Gilead (GILD)   1.73   6.09B 86.56B After Market Close
Friday, July 30, 2021 Stock EPS Forecast Revenue Forecast Market Cap Time
US Berkshire Hathaway B (BRKb)   2.47   64.65B 639.73B -
US Procter&Gamble (PG)   1.09   18.37B 342.24B -
US Exxon Mobil (XOM)   1   63.25B 241.48B Before Market Open
US AbbVie (ABBV)   3.08   13.63B 208.75B Before Market Open
US Chevron (CVX)   1.58   36.09B 190.61B -
US Linde PLC (LIN)   2.55   7.38B 155.48B Before Market Open
US Caterpillar (CAT)   2.41   12.51B 114.78B Before Market Open
US Aon (AON)   1.85   2.67B 52.45B Before Market Open


Dividends: The following stocks will be paying dividends over this week.


Thursday, July 29, 2021 Stock Ex Div Date Dividend Type Yield
US CIT (CIT) Jul 29, 2021 0.35 Quarterly 2.96%
US Costco (COST) Jul 29, 2021 0.79 Quarterly 0.76%
US Morgan Stanley (MS) Jul 29, 2021 0.7 Quarterly 2.93%
US Pfizer (PFE) Jul 29, 2021 0.39 Quarterly 3.76%
UK Royal Mail (RMG) Jul 29, 2021 10 12 months trailing 1.88%
UK SSE (SSE) Jul 29, 2021 81 12 months trailing 5.41%
Friday, July 30, 2021 Stock Ex Div Date Dividend Type Yield
US Aon (AON) Jul 30, 2021 0.51 Quarterly 0.88%
US Citigroup (C) Jul 30, 2021 0.51 Quarterly 3.05%
US Hasbro (HAS) Jul 30, 2021 0.68 Quarterly 2.92%
US Levi Strauss A (LEVI) Jul 30, 2021 0.08 Quarterly 1.19%


Market Holidays


Holidays: The following countries have national holidays this week.

Date Holiday Time Affected Markets
Monday, July 26, 2021      
Thailand Asarnha Bucha Day All Day Stock Exchange of Thailand
Wednesday, July 21, 2021      
Thailand H.M. The King's Birthday All Day Stock Exchange of Thailand


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