Analytics

News, Trend, & Analytics 31.03.2021

Suez Is Back In Business

Today the focus is on the clearing of the Suez Canal, possible material shortage for Apple, and continuing crypto support.

 

Calendar

07:55 UTC

Destatis releases its report on German Unemployment Change. Forecast: -3K. If the results are above the prediction, the EUR could receive negative pressure.

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


12:15 UTC

The release of the US ADP Non-farm National Employment Report. Forecast: 550K. If the resulting data is below the prediction, the USD could receive negative pressure.

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


14:30 UTC

A weekly report on the US Crude Oil Inventories is released. Forecast: 400K. If the results are below the prediction, Brent could receive a positive push.

Assets to trade: Brent

 

News

Reuters reports that, according to their sources, Paypal is going to announce the launch of a crypto checkout service for its US users. Affects Bitcoin


Elon Musk says that the ongoing battery cell shortage is going to slow down the production rates of Tesla Semi. Affects Tesla


Companies (especially oil sellers) worldwide rejoice as the jam at Suez Canal was cleared out and the traffic resumes. Affects Brent


A major Apple supplier, Foxconn, reports the slipping in profits and warns about possible ‘material shortage’. Affects Apple


Amidst the worries about worker rights, the Amazon union vote enters its final stretch in the USA. Affects Amazon

 

Technical Analysis

Apple

Material shortage can put a dent in Apple’s production rates, especially with the ongoing shortage of computer chips. This can give a negative push to the company stock.

We can see Apple showing an abrupt end to the recent uptrend, with the stock slipping 2 points and breaking through the support level of 120. This can be a beginning of a downtrend to reach a previous support level of 116.

S&P 500

This index shows the signs of forming a price corridor after reaching a new resistance level and is unlikely to form a new strong trend in the short term.

USD/JPY

This currency pair continues to show strong bullish tendencies interspersing with short corrections.

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