Today the focus is on Ethereum rocketing straight to the moon, rising US inflation worries, and Amazon winning in a court against the EU.
The weekly US Initial Jobless Claims measurement will be released. Forecast: 490K. If the results are higher than anticipated the USD could receive a positive push.
Assets to trade: AUD/USD, NZD/USD, EUR/USD
Amazon wins a $303 million court fight against an EU order to pay back taxes in Luxembourg. Affects Amazon
Elon Musk announced that new self-driving technology for Tesla will be rolling out in a few weeks. Affects Tesla
Ethereum hits a new record high, taking almost 500% gains this year. Affects Ethereum
Major Wall St indices trade low as stronger-than-expected inflation data fuels investors’ fears. Affects S&P 500
Chevron Corp and Phillips 66 imported toxic benzene in the US without reporting it to regulators as required by law. This could lead to a serious lawsuit for both companies. Affects Chevron
While Amazon has recently had a lucky streak, with winning a court deal and a favorable result of union vote in the US, it is still in hot water. Concerns about its workers’ conditions keep rising, and its financial results are not as good as the company hoped for.
Amazon now is on a clear downtrend, and we believe that it will continue today as well.
Silver is in a pendulum pattern with decreasing amplitude. Look out for it to break through the support level and go down.
The currency pair spiked and is now on a correction course before forming a new price channel.