Analytics

News, Trend, & Analytics 12.05.2021

Pipeline Crisis Continues

Today the focus is on the US inflation worries, continuing oil pipeline crisis, and international money transfers from Google Pay.

 

Calendar

12:30 UTC

The US monthly Core Consumer Price Index will be released. Forecast: 0.3%. If the results are higher than anticipated the USD could receive a positive push.

Assets to trade: EUR/USD, GBP/USD, USD/CAD


14:30 UTC

The weekly US Crude Oil Inventories measurement is released. Forecast: -2.250M. If the data is lower than forecast, Brent could get a positive push.

Assets to trade: Brent

 

News

The US fuel supplies tighten as the pipeline outage enters the fifth day. Affects Brent


Tech stocks keep falling as worries about inflation among the investors rise. Affects NASDAQ


Google Pay launches international money transfers with Wise and Western Union for its US users. Affects Google


Tesla puts on hold its Shanghai land purchase as the US-China relations remain tense. Affects Tesla


Amazon issues its first sustainability bond, raising $1 billion to invest in social and ecological causes. Affects Amazon

 

Technical Analysis

Brent

The oil rises as the world recovers from the pandemic, with demand rising again, if a little bit unsteady. The pipeline crisis caused the price to spike for a while, but now we see it returning to normal.

Brent is on a steady downtrend, peppered with corrections.

NASDAQ

We can clearly see that US Index is in a full-blown downtrend, though the recent correction might be a signal that it is nearing its newest support level.

Gold

Gold entered a correction after falling to its new support level, and we expect it to start growing once again.

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