Analytics

News, Trend, & Analytics 30.04.2021

Chip Shortage Strikes Again

Today the focus is on jobs for Britain, new cryptos, and German supply issues.

 

Calendar

8:00 UTC

The German GDP (QoQ) for Q1 will be released. Forecast: -1.5%. If the data is lower than forecast, the EUR and DAX could be negatively impacted.

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


9:00 UTC

The EU CPI or Consumer Price Index (YoY) for April will be announced. Forecast: 1.6%. If the data is lower than forecast, the EUR could receive some negative pressure.

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


12:30 UTC

The Canadian GDP (MoM) for February will be published. Forecast: 0.5%. If the results are lower than expected the CAD could receive negative.

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

 

News

British employees returned to work and shoppers stepped up spending on clothes and furniture after lockdown restrictions eased across most of the country earlier this month, official figures showed on Thursday. Affects GBP


China’s rapid development of a digital version of the yuan is not pushing the Federal Reserve to rush its own digital currency project, Federal Reserve Chair Jerome Powell said on Wednesday, adding that China’s approach would not work in the United States. Affects Bitcoin


U.S. economic growth likely accelerated in the first quarter, fueled by massive government aid to households and businesses, charting the course for what is expected to be the strongest performance this year in nearly four decades. Affects USD


Eurozone economic sentiment surged in April as vaccination campaigns against the coronavirus gathered speed, with sharp gains across all sectors of the economy that economists said marked the end of the pandemic-induced recession. Affects EUR


Shortages of semiconductors and other industrial components are threatening to derail German economic recovery, forcing executives and policymakers to re-think supply lines and try to reduce reliance on a handful of Asian and U.S. suppliers. Affects DAX

 

Technical Analysis

DAX

The German economy has been showing positive signs, but chip shortages have begun to cut forecasts. While the country struggles to economically recover from lockdowns supply dependencies are being re-evaluated as the nation looks to become more self-sufficient.

The index is testing the recent low and the support level, it will likely bounce back up.

Johnson & Johnson

Prices could bounce off of the inclined support level continuing the uptrend.

Boeing

Prices are testing the support level around 234, momentum may be strong enough to break through it.

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