Analytics

News, Trend, & Analytics 29.01.2021

McDonald’s feels the burn

Today the focus is on Google’s fight down under, Apple’s seller position, and COVID’s impact on McDonald’s.

 

Calendar

8:55 UTC

The German Unemployment Change report will be published. Forecast: 6K. If the employment numbers are lower than expected the EUR could receive a negative push.

Assets to trade: EUR/CAD, EUR/GBP


9:00 UTC

The German GDP YoY Q4 report will be released. Forecast: -3.4%The lower the results the more of a negative impact they could have on the EUR.

Assets to trade: EUR/JPY, EUR/CHF, EURO STOXX 50


13:30 UTC

The Canadian GDP reports will be published. Forecast: 0.4%. If the readings are below the forecast, the CAD could receive a negative push.

Assets to trade: AUD/CAD, CAD/JPY, NZD/CAD

 

News

Apple Inc’s smartphone shipments jumped 22% to record levels in the fourth quarter, making it the world’s biggest seller. Affects Apple


Proposals by the Australian Competition and Consumer Commission (ACCC) that Google must pay local media for content that drives traffic to their websites have been adopted in draft legislation by the government. Affects Google


Oil rose about 1% on Thursday after early declines on a weaker dollar and U.S. inventory shrinkage but delayed vaccine rollouts and travel restrictions kept further gains at bay. Affects Brent


McDonald’s fell short of Wall Street’s estimates for its fourth-quarter earnings and revenue. Affects McDonald’s


The U.S. economy contracted at its sharpest pace since World War Two in 2020 as the COVID-19 pandemic depressed consumer spending and business investment. Affects USD

 

Technical Analysis

McDonald’s

The American fast-food giant reported fourth-quarter earnings that displayed the impact of the coronavirus. Less travel and more lockdowns around the world have put a dent in the fast-food industry as situational demand has minimized.

The chart shows that the price has tested the support level around 207 and pushed below it, and could continue to fall

Gold

Gold has tested the line around 1843 and will likely continue to fall below it.

CAC 40

The French index has tested the support level and shown a Tweezer Top pattern signaling a return of buyer’s strength and the uptrend.

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