Tuesday, 07 July 2020
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GLOBAL
TikTok Says It Will Leave Hong Kong after Recent Passage of Security Law
Tuesday, 7 July 2020 17:11 WIB

TikTok said Tuesday it will stop operations in Hong Kong, joining other social media companies in warily eyeing ramifications of a sweeping national security law that took effect last week. The short-form video app's planned departure from Hong Kong comes as various social media platforms and...

MARKET UPDATE
Wall Street Opens Lower After Five-Day Rally As Virus Cases Surge
Tuesday, 7 July 2020 20:48 WIB

U.S. stocks slipped at the open on Tuesday following the S&P 500 and the Nasdaq™s five-day rally, as investors weighed the risks to the economy from tens of thousands of new coronavirus cases nationwide. The Dow Jones Industrial Average fell 115.02 points, or 0.44%, at the open to...

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 Retreats from Multi-Year Peak as Dollar Rebounds
Tuesday, 7 July 2020 19:13 WIB

Gold fell on Tuesday in the face of competition from safe haven inflows into the dollar as COVID-19 cases increased globally and investors booked profits following bullion's rally to a near eight-year peak. Spot gold fell 0.4% to $1,776.43 per ounce. It earlier touched a high of $1,786.91, $2.05...

FISCAL & MONETARY
RBA Highlights Recovery Uncertainties as Second Wave Threatens
Tuesday, 7 July 2020 14:06 WIB

Australia™s central bank chief highlighted worries among households and businesses about the health and economic outlook, as the nation™s successful run of Covid-19 containment was rocked by a new outbreak, damping the economy™s otherwise improving prospects. Reserve Bank of Australia...

ECONOMIC CALENDAR
Time Country Figures Previous Actual
06.30 JPN Average Cash Earnings y/y -0.7% -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)