Today the focus is on Microsoft talks with Discord, the new US economic package, and continuing computer chip supply crisis.
The British Office for National Statistics releases its report on YoY Consumer Price Index. Forecast: 0.8%. If the reading is higher than predicted, it can give GBP a positive push.
Assets to trade: GBP/USD, EUR/GBP, GBP/AUD
The US releases its weekly report on the Crude Oil Inventory. Forecast: -0.908M. If the inventory is lower, Brent can get a positive push.
Assets to trade: Brent
Microsoft is in talks to buy Discord for more than $10 billion. Affects Microsoft
Reporters Without Borders sues Facebook over attacks on media and virus posts. Affects Facebook
Baidu shares get a cold reception at their debut on the Hong Kong stock market. Affects Baidu
Biden announces a new $3 trillion economic package. Affects S&P 500
A factory blaze in Japan adds to the already heavy computer chip supply crisis. Affects Tesla
Baidu has recently had a rather rough time, with actions from the Chinese government cutting into its profit margins and effectiveness (like forcing it to relinquish its media assets). Hong Kong debut was supposed to fix that, and so far it doesn’t look like it succeeded.
It looks like the price entered a channel after hitting its support level, with a possible downtrend in the future.
The pair follows a strong downtrend interspersing with minute corrections.
Crude oil follows a slight downtrend after a sharp fall, with a possible correction and an uptrend in sight.