Analytics

News, Trend, & Analytics 11.03.2021

The 737 Max returns

Today the focus is on shipping concerns in the UK, Google’s new tracking plans, and the 737 Max’s return.

 

Calendar

12:45 UTC

The ECB Interest Rate Decision will be announced. A drop in the rate can be seen as a bearish signal for the GBP.

Assets to trade: GBP/USD, GBP/SGD, GBP/JPY


13:30 UTC

US Initial Jobless Claims will be released. Forecast: 725K. If the results are lower than predicted the USD could receive a positive push.

Assets to trade: USD/CHF, USD/NOK, CAD/USD


13:30 UTC

The ECB Press Conference will take place. A dovish outlook on the Eurozone could lead to a positive push for the EUR.

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

 

News

Northern Ireland minister, Brandon Lewis, defended on Wednesday Britain’s move to unilaterally extend measures to smooth trade with the British province, repeating that the action was lawful and needed to prevent shortages in supermarkets. Affects GBP


The U.S. dollar regained footing on Wednesday, clawing back some of its losses sustained overnight. Affects USD


Two U.S. senators on Wednesday said they have introduced a bipartisan bill aimed at boosting taxpayer returns from federal oil and gas leasing. Affects Brent


Two years after a 737 Max system failure led to fatal crashes, airlines are rapidly bringing the Boeing jet back into service. Affects Boeing


Google has clarified its plans to step away from tracking individuals online. Affects Google

 

Technical Analysis

Boeing

After two years of what seemed to be nonstop turmoil for Boeing and the 737 Max airlines are bringing the bird back online. As traders see stability in the manufacturer’s future prices could continue to rise.

Prices gapped up but did not initially exceed recent highs, but the strong uptrend should continue.

GBP/AUD

The price is testing the upward support line, prices will likely break either the support or resistance line soon.

USD/CAD

The pair is trading within a tight Pennant, prices should reflect upward from the support line.

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