Analytics

News, Trend, & Analytics 26.03.2021

Trade War Continues

Today the focus is on the trade war between the US and China, the new Amazon IPO, and Facebook’s Giphy buy.

 

Calendar

7:00 UTC

The UK Office for National Statistics releases its report on the monthly Retail Sales value. Forecast: 2.1%. A higher than expected reading can provide a positive push to GBP.

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


9:00 UTC

German Ifo Institute updates its German Ifo Business Index. Forecast: 93.2. A higher than expected result can give EUR a positive tendency.

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


19:00 UTC

The USA announces its new federal budget. No forecasts are available. Depending on its focuses and money allocation, it can cause both positive and negative pushes to USD.

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

 

News

Nike, H&M, and a few more Western brands face a Chinese boycott after the Xinjiang sanctions. Affects Nike


Chinese tech giants face pressure from US regulators as their stocks are reeling. Affects Baidu

 

The US weekly jobless claims fall to an all-year low, signaling a continued recovery of the economy. Affects S&P 500


Amazon Deliveroo IPO faces a cold reception as the concerns over worker rights are raised. Affects Amazon


The UK competition regulator raises concern over Facebook’s $400m purchase of Giphy. Affects Facebook

 

Technical Analysis

Baidu

Baidu had a rough month, and with the fail of its IPO and the current trade war, it doesn’t seem that the situation will improve in the nearest future.

Baidu has fallen in the sharp dive and now enters a correction. If it’ll be successful, it can return to the previous trading channel.

Brent

Brent continues its fall but has yet to reach its current support level. Currently, it seems likely that it will continue to slip.

USD/JPY

After reaching its support level, it entered a positive trend with small corrections not reversing it. For now, it is unclear whether it will breach the historical resistance level, but the pair moves towards it.

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