CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Global stocks slide as virus fears offset tech euphoria

18:26 31 July 2020
• Impressive earnings from US tech giants
• US coronavirus bill unemployment relief runs out today
• Florida death toll reached record levels

European indices finished final session of the week lower dragged down by rising number of coronavirus cases  and concerns over an economic recovery. UK Prime Minister Boris Johnson announced the country will slow down its efforts to reopen the economy. Last night, some parts of northern England were forced to re-impose some lockdown measures due to a spike in coronavirus infections. Also recent weak economic data showed the Eurozone contracted by the most on record  due to the pandemic, with all major economies reporting record slumps in output. DAX 30 dropped 0.5%, CAC 40 fell 1.4%, FTSE 100 closed down 1.5%.

US indices are trading mixed as concerns about the economic damage from the COVID-19 pandemic overshadowed early euphoria from upbeat quarterly earnings reports by Apple, Amazon and Facebook. Dow Jones fell as Chevron and Exxon Mobil reported second-quarter losses and Caterpillar posted a 70% drop in earnings.  According to Refinitiv IBES data, the earnings season in the second quarter has already passed the halfway point, with about 82.4% of companies that have reported beating significantly lowered estimates. The latest news from the political front weighed on market sentiment. Negotiations regarding the additional stimulus package reached an impasse and the Senate adjourned for the weekend and will return on Monday, despite the fact the $600-a-week supplement to unemployment benefits ended Friday. Meantime COVID -19 continues to spread quickly across the US.  Nearly 1.8 million new cases were recorded in July. Florida, with over 300,000 new cases is the worst affected state, followed by California and Texas with about 250,000 each. Death toll is also rising quickly. Number of fatalities in July rose at least 19% to over 152,000 total.  For the fourth day in a row, the state of Florida is reporting a record number of coronavirus related deaths. On Friday, the state reported 257 more deaths, breaking the previous record of 253 deaths, which was set yesterday, according to the Florida Department of Health.

Spot gold  hit new all-time high of $1,983 per ounce on Friday after the United States joined Japan, Germany and the UK in reporting its worst economic slump of modern times thanks to the second quarter's Coronavirus pandemic and shutdowns. Meantime silver managed to partially recover yesterday losses and is trading around $24.30 per ounce.

A lot of Manufacturing PMI indices data from the Eurozone will be released on Monday. US Manufacturing PMI and ISM manufacturing are key readings scheduled for US session. On the earnings front HSBC Holdings plc, Heineken N.V., Siemens Healthineers AG, Global Payments Inc. will publish their quarterly results.
EURUSD – bounced off the key resistance zone at 1.1912 and is currently testing major support at 1.18. If buyers manage to stop declines there, a bullish signal would be generated. On the other hand, a break lower may pave the way for a bigger downward correction with a potential target around 1.17. Source: xStation5

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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