Archives of “July 2020” month

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Add this to the data agenda for Tuesday 14 July 2020 – China June trade data

  
  Analysis
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Trade balance, exports and imports data are due from China today for june June 2020

There is no specific time set for the releases, and it has been very unpredictable in past months.

Yuan terms:

trade balance: expected CNY 425bn, prior was CNY 442.75bn

  • Exports y/y: expected +3.5%, prior was +1.4%
  • Imports y/y: expected -4.7%, prior was -12.7%

USD terms:

trade balance: expected $59.6bn, prior was $62.93bn

  • Exports: expected -2.0%, prior -3.3%
  • Imports: expected -9.0%, prior was -16.7%

NASDAQ tumbles over 2% after reaching all time

  
Analysis, US Market
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California rolling back reopening and the outside the lower close pressure tech talks

The US stocks are ending the session with mixed/negative results. The Dow industrial average actually close marginally higher on the day. The S&P index and NASDAQ, however, reversed earlier gains and fell sharply. Contributing to the declines was the news that California was rolling back some of the reopenings

  • The S&P index fell -29.77 points or -0.93% at 3155.27. The S&P index turned briefly positive for the year above 3230.78% intraday with the high price reaching 3235.32. That is the 2nd time since February 25 that the price briefly extended above the close from 2019 only to fail in the same trading day. Bearish
  • NASDAQ index -226.59 points or -2.13% at 10390.84. The index had a outside day lower close, after trading to a new all time high of 10824.78. Bearish
  • The Dow industrial average close up 10.7 points or 0.04% 26086.00
All the major indices closed near the lows for the day, after giving up some hefty gains.
  • The S&P index was up 1.58% before closing down -0.94%
  • the NASDAQ index is up 1.95%, before reversing lower in closing down -2.13%
  • the Dow industrial average was up +2.13% before reversing and closing near unchanged at +0.04%.

Florida coronavirus cases 12624 vs 15299 yesterday

  
  Analysis
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Coronavirus data from Florida for July 13, 2020:

  • Florida yesterday set a one-day state record of 15,299 cases (6274 last Monday)
  • Total cases 282,435 vs 269,811 yesterday
  • Residents hospitalized  vs 18,271 yesterday
  • Currently hospitalized +514 to 8038
  • Median age 41 vs 38 yesterday
  • Deaths +35
  • Number of people tested 112,264 vs 142,981 yesterday (48,503 last Monday)
  • Positivity 11.51% vs 11.25% yesterday (14.92% last Monday)
This is worse than expected. Given the usual weekend effect, I would have expected a number below 10,000. However testing was still fairly high.

UK PM Johnson: We do think masks have a great deal of value in confined spaces

  
  Analysis
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Comments by UK prime minister, Boris Johnson

Boris Johnson
  • We have got the virus under control across the country
  • It is very important to wear a face covering in shops
  • Will look at the guidance and say more in the next few days
Judging by recent remarks by the government, it is only a matter of time now before masks are surely going to be mandatory in shops across the UK.
In the US, Trump also wore a mask in public over the weekend but we’ll see if he will start doing so outside of the hospital. If so, that could mark a change of a stance and may help to create more health awareness in mitigating the spread of the virus.

Japan reaffirms that state of emergency declaration is not needed for now

  
  Analysis
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Tokyo finds another 119 new coronavirus cases today

Japan economy minister, Yasutoshi Nishimura, is out to reaffirm that there is no need to declare another state of emergency in Tokyo just yet despite the consistent jump in the number of coronvirus cases in the capital over the past two weeks.
The count today may be skewed due to the ‘weekend effect’, with Tokyo having previously reported over 200 new cases each day over the last four days before this:
Tokyo

Heavy rainfall in China – 433 rivers have flooded

  
  Analysis
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China’s ministry of water resources (via Global Times)

  • 433 rivers have flooded in China
  • 33 rivers have recorded their highest level in history
Further (Reuters):
  • China raised its flood response alert on Sunday to the second highest level
  • heavy rain in regions along the Yangtze River
  • eastern provinces of Jiangsu and Jiangxi among the worst hit
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