Today the focus is on Facebook’s failed tantrum in Australia, Oil’s rise on Texas’ demise, and Boeing blowing up.
The British Average Earnings Index + Bonuses report will be released. Forecast: 4.1%. If the results are higher than expected, it could give a positive push to the GBP.
Assets to trade: GBP/CHF, GBP/USD, GBP/AUD
The EU CPI (Consumer Price Index) (YoY) will be published. Forecast: 0.9%. If higher than expected it can be taken as a bullish sign for the EUR.
Assets to trade: EUR/NZD, EUR/JPY, EUR/AUD
The US CB Consumer Confidence report will be released. Forecast: 90.0. If the results are lower than expected, the USD could receive a bearish push.
Assets to trade: USD/NZD, USD/JPY, USD/CHF
Australia will not alter legislation that would make Facebook and Alphabet Inc’s Google pay news outlets for content. Affects Facebook
Boeing Co urged airlines to suspend the use of 777 jets with the same type of engine that shed debris over Denver at the weekend after U.S. regulators announced extra inspections and Japan suspended their use while considering further action. Affects Boeing
Oil prices rose on Monday as the slow return of U.S. crude output cut by frigid conditions served as a reminder of the tight supply situation, just as demand recovers from the depths of the COVID-19 pandemic. Affects Brent
Bitcoin fell sharply on Monday after surging to a record $58,354 a day earlier, as a selloff in global equities curbed risk appetite. Affects Bitcoin
According to the Ifo economic institute, German business morale rose far more than expected in February, bouncing back from a 6-month low in January thanks to a brighter industrial outlook and well-stocked order books. Affects EUR
Another incident involving a Boeing 747-400 cargo plane that dropped engine parts after a mid-air explosion and fire over the southern Netherlands on Saturday combined with its 777 failures do not inspire faith in the company over the long term.
The price gapped down on Monday showing signs of a potential downtrend.
The pair is trading within a Flag and will break out, likely shooting higher.
The German index has tested its support level around 13820, and could continue to climb away from it.