Tuesday, 07 July 2020
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GLOBAL
US Diplomat in Hong Kong Says Security Law Use a 'Tragedy'
Tuesday, 7 July 2020 10:48 WIB

The top American diplomat in Hong Kong said Monday that it is a œtragedy to use the semi-autonomous Chinese territory's new national security law to chip away at œfundamental freedoms in the Asian financial hub and create an œatmosphere of coercion and self-censorship. Hanscom...

MARKET UPDATE
Hong Kong Stocks Extend Rally at Open
Tuesday, 7 July 2020 08:54 WIB

Hong Kong stocks started with more gains Tuesday, having climbed more than six percent over the previous four sessions and following a surge on Wall Street. The Hang Seng Index rose 0.88 percent, or 231.92 points, to 26,571.08. The benchmark Shanghai Composite Index jumped 1.44 percent, or 48.07...

ECONOMY
U.S. Services Index Jumps to a Four-Month High on Reopenings
Monday, 6 July 2020 21:14 WIB

A gauge of U.S. service industries jumped to a four-month high in June and showed the resumption of growth as the economy reopened more broadly from pandemic-induced lockdowns. The Institute for Supply Management said Monday that its non-manufacturing index soared a record 11.7 points...

GOLD CORNER
Gold price bull rally: the drive is alive
Monday, 6 July 2020 13:40 WIB

Gold achieved an important milestone this past week as priced pushed above $1,800 an ounce for the first time since 2011 and with strong fundamentals and what appears to be an unstoppable uptrend, retail investors and Wall Street analysts are significantly bullish on gold. Of the 17 Wall Street...

COMMODITY
Gold Holds Gain Amid Virus Resurgence, Weaker Dollar
Tuesday, 7 July 2020 13:25 WIB

Gold held near the highest level in more than seven years on demand for haven assets amid the resurgence in coronavirus cases in some parts of the world, while the dollar steadied after falling for five days. Spot gold little changed at $1,785.11/oz at 12:26pm in Singapore; +0.5% on...

FISCAL & MONETARY
ECB's Lagarde: Economic recovery will be a complicated matter
Friday, 26 June 2020 15:19 WIB

European Central Bank (ECB) President Christine Lagarde, while presenting at an Online Summit organised by the European Business Leaders' Convention, said that we probably have passed the lowest point of the crisis. Additional quotes: Still cautious because of the second wave of infections....

ECONOMIC CALENDAR
Time Country Figures Previous Actual
06.30 JPN Average Cash Earnings y/y -0.6% -2.1%
06.30 JPN Household Spending y/y -11.1% -16.2%
10.35 JPN 30-y Bond Auction 0.53|2.8 0.61|3.9
11.30 AUD Cash Rate 0.25% 0.25%
11.30 AUD RBA Rate Statement - -
MARKET CHART
Loco Gold Daily Chart (LGD)