Protests in the U.S. are growing. There’s a second wave of crisis ahead?

Morning Stock News

Gold   1693,50
(-2,63%)

EURUSD   1,0799
( -2,98%)

DJIA  24115
(-5,28%)

OIL.WTI  25,095
(-29,37%)

DAX   10609
(-11,09%)

June starts with good news on the markets. First of all, we can already see that the U.S. economy is coming out of recession and starting to gain momentum a little bit. Of course, there is also the negative. Protests in the U.S. have hit the retail hard. Big stores like Wallmart are closing their branches all over the country because of looting.


AUD/USD

AUDUSD

Summer is usually a quiet period in the markets, but the summer of 2020 is likely to be special. The difficult situation with the pandemic, the growing pressure between China and the US, the strongest protests in the US in recent years are causing irreparable harm to the entire world economy. Investors are still optimistic and are trying to buy. On Monday, the S&P500 index is still above 3000 at 3060. This gives us hope that we will go further upwards after all.


Euro

Problems with the protests in the USA and the weak dollar plays into the hands of the Euro owners. However, this week will be very busy with various events and macroeconomic statistics. The ECB statements will be very important for the Euro as the problems with the Bundesbank have not gone anywhere yet. On Monday the Euro traded at 1.1131 and came to a strong resistance level at 1.1140. The Bears are unlikely to let go of this situation. The current growth is very fragile and the trend may well turn down.


AUSTRALIAN DOLLAR

The Australian dollar has been rising for the third consecutive week. The country has coped with the coronavirus pandemic, and losses in GDP will make very small figures. The forecast for the Australian economy is positive, especially China is recovering rapidly, and Australia is the main exporter of raw materials. The Australian dollar broke through SMA200 at 0.6653 and rushed up. Now we need to consolidate above that level in order to continue the movement.


Gold

Gold is steadily approaching $1800 per ounce. Due to problems in the USA, investors feel that safe haven assets should enjoy popularity. Global stimulation of the economies of the world’s major banks is still increasing the demand for the precious metal. In the near future gold will try to make a retest of 1750 per ounce and probably will try to consolidate higher.


What’s waiting for us today?

06.30 Decision on the interest rate of the Bank of Australia.
09.00 Change in the number of unemployed in Spain.
22.30 Weekly crude oil reserves in USA


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