Analytics

News, Trend, & Analytics 22.04.2021

Covid Hits Oil, Again

Today the focus is on Boeing’s woes, oil facing uncertainty, and the return of the J&J vaccine to Europe.

 

Calendar

12:30 UTC

The US Department of Labor releases its weekly Initial Jobless Claim measurement. Forecast: 617K. If the data is higher than expected the USD will receive a negative push.

Assets to trade: AUD/USD, USD/JPY, USD/CAD

 

News

The US watchdog will review Federal Aviation Administration’s decision to unground Boeing 737 MAX. Affects Boeing


The resurgence of COVID-19 in India dents the oil demand outlook. Affects Brent


European countries resume J&J vaccine delivery. Affects Johnson & Johnson


Netflix subscriber growth falls as the pandemic boom recedes. Affects Netflix


Deutsche Boerse to de-list Coinbase from Frankfurt stock exchange and Xetra trading system. Affects Bitcoin

 

Technical Analysis

Brent

Oil was in a bad place during the pandemic and even rare spikes in demand and optimistic recovery rates didn’t do much to help it. With the recent increase in COVID cases in India, one of the big oil consumers, Brent is diving again.

We can see a newly-formed downtrend, and while it is doubtful that it will last long, we expect the oil price to keep slipping today.

Netflix

Netflix is moving sideways and is expected to slip in price in the short term.

USD/JPY

This pair seems to have found a new price channel, with the higher level being 108.2 and the lower at 107.9. Trade within the channel and keep an eye out for the emergence of a new trend.

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