Both European and U.S Indices closed lower in a quiet trading session as traders wait for the outcome of this evening’s FOMC Statement, followed by the virtual press conference from Fed Chairman Powell at 7.30 pm. Yesterday morning the ECB extended its recommendation that banks suspend dividends and share buybacks until January 2021 in order to navigate the Coronavirus crisis. The WHO warned the COVID-19 pandemic is one big wave and not a seasonal event like the flu. On the vaccine front, Pfizer and BioNTech announced they are launching a phase two/three vaccine trial, in hopes of seeking regulatory review as soon as October. U.S. Economic data was mixed. The Conference Board’s Consumer Confidence Index fell to 92.6 in July, down from 98 in June, indicating that worries are growing about the economy in the near-term. But the Richmond Fed Manufacturing Index rose and topped expectations, on strength of New Orders and Shipments. The Dow was weak after McDonalds, 3M and Harley Davidson slumped after earnings misses. Elsewhere, Oil declined on reports that OPEC warned demand could take more than two years to recover while Gold closed 1.1% higher as Consumer Sentiment fell on COVID-19 worries after a volatile trading session for the Precious Metals.

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 for details

For anyone following my Platinum Service it made 293 points yesterday and is now ahead by 3002 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

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