PMI Rise in US and European Countries| F.X Daily Analysis•Fanny Arianti Arief

Although there are signs of economic improvement, as discussed at the PMI in several European countries and the US, investors remain overshadowed regarding the number of new corona viruses, especially in the US. The manufacturing PMI and service sector in the UK grew in June, while the US manufacturing PMI rose sharply from 39.8 to 49.6, still below 50, which is an increase in numbers. Meanwhile, the worsening of the world's geopolitical climate with the help of the Covid-19 case still weighs on the market. The number of ASRS reported in Covid-19 was 39,818 on Thursday. This condition prompted investors to return to chasing the dollar as a safe haven. The dollar index closed at 97.46 last Friday, up from a one-week low of 96.42, down 0.2% over the week.

The euro had risen sharply to 1.1347 last week to win Eurozone PMI data that exceeded expectations. However, strengthening the euro eroded after the planned implementation of new trade tariffs from the US to around USD3.1 Billion of products from EU-member countries. The euro was also pressured after the ECB increased its pandemic emergency purchasing program (PEPP) by EUR 600 billion, to 1.35 billion.

The price of gold rose in three consecutive weeks, discussed psychological targets at $ 1,800, as investors entered safe haven amid new developments in the case of coronaviruses globally. Some analysts predict that this precious metal can reach the highest level of 2011 before the end of next week, and may reach the highest level at $ 1,900 in July. US gold futures prices rose 0.8% to 1784.80 per ounce. Over the past week, gold prices rose 1.7%, after rising 0.9% and 3.2% in the previous two weeks. While spot gold rose 1.6%.

A week after the rally, the price of WTI and Brent oil was then corrected last week because it was moved regarding the spread of the second wave of corona virus. The number of viral infections that continues to increase the United States over the weekend, with a total of 44,782 new cases approved on Saturday, two days collected related to new cases has increased above 40,000. Texas, the state with the largest number of oil refineries, recorded higher cases of hospitalization for the virus for 16 consecutive days, with 5,523 patients currently being translated. Hospitalizations have risen rapidly since Memorial Day, compiling there are 1,511 19 patients in the hospital. Meanwhile, the IMF said that oil producers, including Saudi Arabia and Russia would divert recessions which this year were caused by a coronavirus pandemic. During the week WTI dropped 3.2% and Brent Down 3%.

Asian stocks were pressured at the start of trading this week because filtering of the corona virus made investors doubtful about economic recovery, prompting them to return to safe haven, like the dollar. Wall Street plunged last Friday as several US states began to consider reopening the economy. The MSCI Asia-Pacific index outside Japan weakened 0.2%.

Focus this Week: Chinese PMI, Powell, NFP

A series of data and events will again illustrate this week's market movements. Earlier in the week, investors examined the decision of Governor Andrew Bailey. Then the Chinese PMI data will come later. Some countries will also release GDP data, namely Canada and the UK. The event, the most awaited market is the testimony of Fed chairman Jerome Powell, as well as US employment data, including non-farm payroll.

[About The Author]

Fanny has started her self-learning of Forex since 2005 and has joined an Indonesian broker as a financial consultant in 2009. Through “trial and error”, she has learnt a lot from failure experiences. She is now a renowned trainers for the forex beginners and has helped the clients to get the profits from trade.

WikiFX

App is a third-party inquiry platform for company profiles.WikiFX has

collected 17001 forex brokers and 30 regulators and recovered over

300,000,000.00 USD of the victims.

It, possessed by Wiki Co., LIMITED that was established in Hong

Kong Special Administrative Region of China, mainly provides basic

information inquiry, regulatory license inquiry, credit evaluation for

the listed brokers, platform identification and other services. At the

same time, Wiki has set up affiliated branches or offices in Hong Kong,

Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted

WikiFX to global users in more than 14 different languages, offering

them an opportunity to fully appreciate and enjoy the convenience

Chinese Internet technology brings. WikiFXs social media account as

below:

Facebook:

USA Area：https://www.facebook.com/WikiFX.US/

UK Area：https://www.facebook.com/Wikifx.UK/

Australia Area：https://www.facebook.com/WikiFX.au

Nigeria Area：https://www.facebook.com/WikiFX.ng

Twitter：

Areas where English is an official language：https://twitter.com/WikiFX_Eng

More details about how to download WikiFX App:

Please download WikiFX APP from links below or scan QR code ：

App Store: https://apps.apple.com/us/app/fxeye/id1402501387？l=zh&ls=1

Google Play: https://play.google.com/store/apps/details？id=com.foreigncurrency.internationalfxeye

If you have any questions, please feel free to contact us at wikifx@wikifx.com

Worried about missing out latest trends in the volatile market？ WikiFX ‘News Flash’ is here to help!

With

24-hour real-time update of forex market data by minute, you can seize

the opportunity of every bullish market! Bookmark the link below and

follow the market trends immediately!

UK Area：https://live.wikifx.com/uk_en/7x24.html

USA Area：https://live.wikifx.com/us_en/7x24.html

Nigeria Area：https://live.wikifx.com/ng_en/7x24.html

Australia Area：https://live.wikifx.com/au_en/7x24.html

Wiki Forum Forum Function:

In order to help more investors, WikiFX has launched the WikiFX

Forum forum, which aims to provide urgently needed and professional

services to Nigerian forex investors.

The exposure function of “WikiFX Forum” includes the following features:

1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

As long as there is sufficient evidence, a review panel and an

executive team will contact the broker to discuss the complaint or

expose it directly through the media. Here are the exposure channels:

2: Block low score brokers from entering the forum

3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of WikiFX Forum.

WikiFX APP exposure channel: https://activities.wikifx.com/gather/indexng.html

Information page to understand forex scam and exposure channel: https://activities.wikifx.com/gather/indexng.html

Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html