U.S Indices closed higher as the Federal Reserve kept rates steady, but said it is committed to doing whatever it takes to meet its dual mandate of maximum Employment and stable prices. It also pledged to continue Asset Purchases “at least” at the current pace. In his press conference, Fed chair Jerome Powell said the Fed will do whatever necessary to help the economy rebound as quickly as possible. Pending Home Sales surged in June and topped estimates, in yet another show of strength for the housing market. National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci said it would be “reasonable” to expect a safe and effective Coronavirus vaccine by December. Moderna’s COVID-19 vaccine candidate protected 16 monkeys against the virus, according to an abstract released in the New England Journal of Medicine. As expected, Republicans and Democrats may be closer on a stimulus agreement than public comments indicate especially as the Congress closes next Friday for the Summer Recess. European Indices closed mixed after European Central Bank Governing Council Member Yannis Stournaras said the central bank is unlikely to end its pandemic emergency plan until inflation rallies, implying it will be around for some time. In other news, Spanish Retail Sales data for June declined at a much slower pace than May’s data, indicating the country’s economy may be turning the corner. Elsewhere, the US Dollar closed 0.3% lower while Gold continued its recent rally to close 0.5% higher at $1967.

To mark my 2125th issue of TraderNoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day To demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoble.com for details

For anyone following my Platinum Service it made 61 points yesterday and is now ahead by 3063 points for July, having made 2580 points in June, 2456 points in May, 4773 points in April, an incredible 9264 points in March, 2223 points in February and 2142 points in January. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification

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