Today the focus is on the UK reopening, oil optimism, and Johnson & Johnson coming to Europe.
The British GDP (YoY) will be released. Previous: – 7.3%. If the data is higher than the previous reading the GBP could see a positive push.
Assets to trade: GBP/NZD, GBP/USD, GBP/JPY
British Manufacturing (MoM) for February will be reported. Forecast: 0.5%. If results are lower than expected the GBP could receive a negative push.
Assets to trade: GBP/AUD, GBP/CAD, GBP/CHF
US Core CPI (MoM) for March. Forecast: 0.2%. If the data is lower than expected the USD could receive a negative push.
Assets to trade: USD/SGD, AUD/USD, EUR/USD
Japanese wholesale prices marked their first annual increase in more than a year in March, a sign that inflationary pressure has returned to the world’s third-largest economy. Affects JPY
The reopening of England’s shopping districts drew the crowds on Monday, with UK retail destinations seeing a 218% jump from last week. Affects GBP
Johnson & Johnson on Monday began delivering its COVID-19 single-dose vaccine to EU countries. Affects Johnson & Johnson
Oil prices rose on Monday on optimism over a rebound in the U.S. economy as coronavirus vaccinations accelerated and on tensions in the Middle East, though rising COVID-19 cases elsewhere kept a lid on prices. Affects Brent
Microsoft Corp said on Monday it would buy artificial intelligence and speech technology firm Nuance Communications Inc for about $16 billion in cash, as it builds out its cloud strategy for healthcare. Affects Microsoft
Johnson & Johnson
As a rising star in the place of Astra Zeneca’s vaccine in the wake of a proven link between the vaccine and blood clots. However, the J&J vaccine is under a microscope since it has a similar make-up. Concerns and increased shipments are at odds pushing the price in both directions.
Quotes are trading in a Pennant, indicating that prices will likely break out upward soon.
Prices have begun to test previous highs created by a gap down back in February.
The E-car manufacturer is trading in a channel and will reflect off of its slightly downward sloping resistance level.