Today the focus is on a possible hinder to UK vaccine rollout, Apple’s loss, and Amazon’s worker troubles.
The British Average Earnings Index + Bonuses for Jan. will be released. Forecast: 4.9%. If the reading is higher than expected, it can be taken as a positive for the GBP.
Assets to trade: GBP/USD, EUR/GBP, GBP/CHF
US New Home Sales for Feb. will be announced. Forecast: 875K. If the results are lower than predicted the USD could receive a negative push.
Assets to trade: USD/AUD, USD/CAD, USD/NZD
EU’s leaders are due to discuss imposing a ban on vaccine exports to Britain at a summit on Thursday, which could end the strengthening of the GBP against the EUR which analysts largely attribute to the UK’s vaccine rollout – which is one of the fastest in the world. Affects GBP
A federal jury in Texas said Apple Inc must pay about $308.5 million to Personalized Media Communications LLC (PMC) for infringing a patent associated with digital rights management. Affects Apple
Oil prices resumed their decline on Monday, falling on renewed concerns that European coronavirus lockdowns could slow any recovery in demand for fuel products. Affects Brent
The Bundesbank said on Monday, the German economy is likely to shrink sharply this quarter as pandemic-fighting curbs hit the services sector and even the booming construction industry slows. Affects EUR
Amazon workers took strike action in Italy on Monday in the first protest involving the U.S. group’s entire logistics operations, including third-party delivery service providers. Affects Amazon
Amazon has been in the news in the US and Italy for disputes around worker unions. Italian workers are on strike while American workers try to unionize. The tech giant remains in the spotlight as profits continue to rise amid ignored workforce complaints and demands.
Prices are approaching the support level turned resistance level around 3100.
After a sharp pullback the index’s climb appears to be back on the upward trend.
The fitness brand is dropping and will likely continue until it tests the slightly upward sloping support level.