Today the focus is on tests for digital US dollar, rising European stocks, and recovering air travel.
The UK Manufacturing Purchasing Managers Index will be released. Forecast: 60.7. If the data is lower than forecast, the GBP could be negatively impacted.
Assets to trade: GBP/JPY, EUR/GBP, GBP/CHF
A quarterly report of New Zealand Employment Change will be released. Forecast: 0.2%. If the data is lower than forecast, the NZD could get a negative push.
Assets to trade: EUR/NZD, AUD/NZD, NZD/JPY
Several aerospace companies forecast profits as vaccine rollouts help revive air travel. Affects Boeing
The US non-profit Digital Dollar Project has announced the launch of five pilot programs to test the potential use of a US digital currency. Affects Bitcoin
European stock markets are bullish as investors expect a strong rebound from global markets this week. Affects EURO STOXX 50
Automobile industry giants BMW and Ford are leading a $130 million investment round in a battery startup Solid Power, in order to lower the cost of electrical vehicles. Affects Tesla
After a week of mostly high earnings, major US indices opened high this week, as investors are waiting on data to gauge the pace of the country’s economic recovery. Affects Dow Jones
Euro STOXX 50
With the US government boosting its economy and revitalizing international trade once again, European markets are starting to move up, as hopeful investors expect more good news down the line.
The index has hit a support level after its fall and might rebound once the trade opens.
As gold moves to its new height, expect it to hit a new resistance level and slip.
The pair shows signs of forming a new price channel, so expect it to move sideways between levels of 1.0755 and 1.0790.