Analytics

News, Trend, & Analytics 11.02.2021

Silver is the new Gold

Today the focus is on Apple making AR moves, Boeing’s ever-increasing delays, and Silver’s shine potential.

 

Calendar

13:30 UTC

The US Initial Jobless Claims report will be released. Forcast: 757K. If the results are lower than expected the USD could receive a positive push.

Assets to trade: EUR/USD, USD/JPY, USD/AUD

 

News

Global demand for silver will rise to 1.025 billion ounces in 2021, its highest in eight years, as investors and industry ramp up purchases, the Silver Institute said on Wednesday. Affects Silver


Apple Inc has partnered with Taiwan Semiconductor Manufacturing Co to develop micro OLED displays, which it plans to use in its upcoming augmented reality (AR) devices. Affects Apple


Coca-Cola Co on Wednesday forecast a return to organic revenue growth this year after a pandemic-hammered 2020. Affects Coca-Cola


Emirates Airlines President Tim Clark said on Wednesday Boeing’s 777x jet was unlikely to be delivered before the first quarter of 2024. Affects Boeing


Chancellor Angela Merkel is set to announce Germany will extend its lockdown until March 14 amid concerns over new strains of the coronavirus. Affects EUR

 

Technical Analysis

Silver

The coronavirus outbreak triggered an investor rush to stockpile silver, which like gold is traditionally seen as a safe place to store money. This sentiment is expected to continue leading to six-year highs.

The precious metal has been riding an uptrend all year and should continue to climb.

GBP/CHF

The pair has tested the level of 1.23 as its support and resistance line, prices should reflect upwards to maintain the slight uptrend.

DAX

The index is beginning to reclaim losses and broke through the light resistance level, and should continue to climb.

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