Today the focus is on the US inflation worries, continuing oil pipeline crisis, and international money transfers from Google Pay.
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
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
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
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.
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 entered a correction after falling to its new support level, and we expect it to start growing once again.