This is LCG’s look ahead to the week beginning July 22nd. We discuss second-quarter US Earnings season, the European Central Bank monetary policy decision & the announcement of a new UK Prime Minister, presumably frontrunner Boris Johnson. RW: 79% of our retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing money.

 

This information has been prepared by London Capital Group Ltd (LCG). The material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. LCG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. Spread betting and CFD trading carry a high level of risk to your capital and can result in losses that exceed your initial deposit. They may not be suitable for everyone, so please ensure that you fully understand the risks involved.

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EUR/USD under pressure below 1.1100 as US dollar rebounds

EUR/USD remains under pressure below 1.1100 amid the broad US dollar rebound. US President Trump's decision to extend lockdown to tackle the coronavirus outbreak intensified risks of a deeper economic slowdown and underpinned the haven demand for the greenback. 

EUR/USD News

GBP/USD: Rebound remains capped by 1.2400 amid firmer US dollar

GBP/USD is off the lows but the upside attempts remain capped by 1.2400 amid a broadly stronger US dollar. The dire warnings on the UK’s economic growth amid expectations of a longer lockdown weigh on the spot. 

GBP/USD News

Cryptocurrencies: Bulls try to take the reins again, XRP in front

The XRP/USD pair is best positioned to escape the bearish trap that has gripped the market in recent weeks. Ether needs to do better than BTC, as it has happened over the weekend. Market sentiment is at a negative extreme, an invitation to a short-term upward shift.

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Gold remains confined in a narrow range around $1620 level

Gold extended its sideways consolidative price action and remained confined in a four-day-old trading range through the early European session on Monday. A goodish pickup in the USD demand seemed to be a key factor capping gains.

Gold News

WTI closes in on multi-year lows, trades around $20.50 on demand concerns

The barrel of West Texas Intermediate (WTI) posted losses for the sixth straight time last meek and is now looking to close the month of March more than 50% lower. 

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