Today the focus is on the rallying of the US markets, Facebook’s continuing problems with the UK watchdog, and the new oil production policy.
The US Bureau of Labor Statistics will release its monthly report on US Unemployment Rate. Forecast: 6%. If the results are below the prediction, USD could receive a positive push.
Assets to trade: NZD/USD, USD/JPY, EUR/USD
OPEC+ holds talks to decide on the oil production policy with little demand assurance. Affects Brent
The UK watchdog referred to Facebook’s acquisition of Giphy for an in-depth probe. Affects Facebook
US manufacturing sector index soars to a 37-year high. Affects S&P 500
Tesla’s stock falls as big insurers are wary about its acceptance of cryptocurrency as payment. Affects Tesla
Boeing wins a $1.6 billion deal for the delivery of 11 P-8A Aircraft. Affects Boeing
As the manufacturers feel positive about the newest infrastructure bill, major market indices all rose, with S&P 500 spiking through the major level of 4,000.
With S&P forming a positive trend and rising above the major resistance level of 4,000, we can expect its rise to continue in the short-term, possibly reaching 4,030 today.
Gold has reclaimed most of its losses after its recent crash, rebounding from the resistance level of 1,680 and currently aiming to return to the level of 1,730.
It seems that AMD recovers from the current volatile state and aims to establish a new price corridor between levels 75 and 84.