Analytics

News, Trend, & Analytics 02.02.2021

Rise of retail traders

Today the focus is on Facebook’s new notifications, Google getting into cars, and Silver riding the Bull.

 

Calendar

10:00 UTC

The EU GDP QoQ for Q4 will be published. Forecast: 12.7. If the results are lower than expected the EUR could receive a negative impulse.

Assets to trade: EUR/NZD, EUR/AUD

 

News

Silver surged on Monday as retail investors expanded their social media-fuelled battle with Wall Street to drive the precious metal to an eight-year high. Affects Silver


Facebook Inc said in a blog post on Monday it will begin rolling out a notification for iPhone users globally about how data is used for personalized ads, to get ahead of upcoming Apple Inc privacy changes that Facebook says will hurt its advertising business. Affects Facebook


Ford Motor Co will tap into software, artificial intelligence and cloud computing offered by Alphabet Inc’s Google to develop new consumer services and modernize internal operations. Affects Google


Nintendo has increased it’s forecast for 2021, largely due to higher sales of the Switch. Affects Nintendo


Post-Brexit trading has seen exports dive and prices rise as the UK establishes its customs routines for EU business. Affects GBP

 

Technical Analysis

Silver

The precious metal saw a spike to 8-year highs after retail traders for a number of things turned their interest to the mineral. As the might of the retail trader has been more and more noticeable the strength behind this push could remain or wain depending on the SEC’s handling of the influx in market activity.

The chart shows a continued uptrend and a spike over the last couple of trading days. There could be a contraction in the next few days.

Mastercard

Currently testing its support level around 315, quotes will likely reflect upward.

Twitter

Twitter is testing its highs before its last gapped drop. Quotes should continue to rise to new highs.

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