Analytics

News, Trend, & Analytics 01.04.2021

Slow Recovery of Oil Demand

Today the focus is on the Mercedes-Benz expanding in the electric cars market, a big infrastructure plan from Joe Biden, and the oil price volatility.

 

Calendar

07:55 UTC

The readings of the Germany Manufacturing Purchasing Managers Index (PMI) are released. Forecast: 66.6. If the results are above the prediction, EUR could receive a positive push.

Assets to trade: EUR/GBP, EUR/NZD, EUR/AUD


08:30 UTC

UK Manufacturing PMI is going to be released. Forecast: 57.9. If the resulting data is below the prediction, GBP could receive negative pressure.

Assets to trade: GBP/AUD, GBP/CAD, GBP/JPY


12:30 UTC

The weekly United States Initial Jobless Claims come in. Forecast: 680K. If the results are below the prediction, USD could receive a positive push.

Assets to trade: USD/CHF, USD/CAD, EUR/USD

 

News

The United States President Joe Biden calls for a big $2 trillion package to invest in infrastructure projects. Affects NASDAQ


Amazon-backed Deliveroo dives almost 30% after the cold receptance of its London debut. Affects Amazon


Mercedes-Benz maker Daimler promises to accelerate its shift to electric cars, building on a good 2021 start. Affects Tesla


Oil prices continue to fall as OPEC+ is concerned about slow demand recovery. Affects Brent


The UK watchdog says that Mastercard broke the law for the cartel behavior when offering pre-paid cards to the vulnerable. Affects Mastercard

 

Technical Analysis

NASDAQ

Following the news of a new infrastructure bill from the US government NASDAQ started its rise and continues it uninterrupted save a small correction.

We can see that NASDAQ has broken through the major resistance level of 13,000 and is currently aims to reach 13,100. If it manages to do that, we’ll probably see a strong uptrend.

Boeing

The chart shows that Boeing is following an uptrend, even though it is interspersed with corrections. If it manages to break through the 260 resistance level, it might have a new support level.

Brent

Brent entered a slump earlier today and is now in correction, though it is unclear whether it will continue for long.

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