Analytics

News, Trend, & Analytics 23.04.2021

The Dance of Europe

Today the focus is on retail in the UK, US jobless claims, and Brexit deals.

 

Calendar

6:00 UTC

British Retail Sales (MoM) for March will be released. Forecast: 1.5%. If results are higher than predicted, the GBP may receive a positive push.

Assets to trade: EUR/GBP, GBP/CAD, GBP/AUD


7:30 UTC

The German Manufacturing PMI for April will be announced. Forecast: 65.8. If the data is lower than expected the EUR could receive a negative push.

Assets to trade: EUR/USD, EUR/JPY, EUR/NZD


14:00 UTC

The US New Home Sales for March will be released. Forecast: 886K. If the data is lower than forecast, the USD could receive a positive push.

Assets to trade: USD/SGD, USD/NOK, USD/JPY

 

News

The European Central Bank left policy unchanged as expected on Thursday, keeping copious stimulus flowing even as it faces questions over how it might claw back support once the pandemic-stricken eurozone economy reopens. Affects EUR


English and Welsh shoppers rushed back to clothes and furniture stores last week when they reopened after three months of COVID lockdown restrictions, but the novelty of dining and drinking outside rapidly faded. Affects GBP


The European Parliament will vote on a post-Brexit trade deal agreed between Britain and the EU next Tuesday after political leaders backed down on a threat not to ratify the accord due to British changes in Northern Ireland trading arrangements. Affects EUR


British manufacturers’ hopes for an economic rebound rose to their strongest in 48 years this month as the country began to recover from the slump caused by the COVID-19 pandemic. Affects GBP


Fewer Americans filed new claims for unemployment benefits last week, suggesting layoffs were subsiding and strengthening expectations for another month of blockbuster job growth in April. Affects USD

 

Technical Analysis

EUR/GBP

The British economy has been roaring back since England and Wales reopened this month. Businesses across most sectors saw a large boost in business. Whereas the EU has not had the same luck, which has caused the trend to flip in the GBP’s favor.

The pair will test recent highs and could continue to climb.

Ethereum

This crypto has hit record highs with intense volatility. Prices could continue to rise.

S&P 500

After two days of pullbacks, the index is approaching new highs again. If it passes previous highs there is nothing to stop it from climbing.

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