Analytics

News, Trend, & Analytics 26.01.2021

Apple vs. Europe

Today the focus is on Boeing’s return to the air, Google employees unionizing, and the class action lawsuit against Apple

 

Calendar

7:00 UTC

The UK’s Average Earnings Index +Bonus for November will be released. Forecast: 2.9%. If the reading is higher than expected, the GBP could receive a positive push.

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


15:00 UTC

The US’s CB Consumer Confidence report for January will be published. Forecast: 89.0. If the reading comes in below the forecast, the USD could see a bearish momentum.

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

 

News

The NASDAQ index hit a record high on Monday as investors remained optimistic at the start of a busy week of earnings from mega-cap technology companies. Affects NASDAQ


Europe is set to lift a 22-month flight ban on the Boeing 737 MAX this week after reviewing submissions by industry experts and whistleblowers. Affects Boeing


Italian consumer association Altroconsumo said on Monday it had told Apple it has launched a class action against the U.S. tech giant for the practice of planned obsolescence. Affects Apple


Google employees from across the globe are forming a union alliance, weeks after more than 200 workers formed a labor union for U.S. and Canadian offices. Affects Google


President Joe Biden signed an executive order Monday aimed at promoting the “Buy American” agenda he campaigned on last year. Affects S&P 500

 

Technical Analysis

Apple

In a statement, Altroconsumo said it was asking for damages of 60 million euros ($73 million) on behalf of Italian consumers tricked by the practice which had also been recognized by Italian authorities. Two similar lawsuits against Apple have been filed in Belgium and Spain for the planned obsolescence of iPhones with another to come in Portugal.

Apple’s price gapped up Monday morning, but saw a pull-back and could test its new support level around 140.

Stoxx 50

The European index is testing its latest support level around 3546. Prices could push down and stay below it, turning it into a resistance level.

S&P 500

The index’s price has reflected off of its new resistance level and will likely test it again in the coming days.

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