Analytics

News, Trend, & Analytics 02.04.2021

The US Market Rallies

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.

 

Calendar

12:30 UTC

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

 

News

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

 

Technical Analysis

S&P 500

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

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.

AMD

It seems that AMD recovers from the current volatile state and aims to establish a new price corridor between levels 75 and 84.

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