Today, the focus is on Alibaba’s tactical decisions, the China-EU deal, and the rise of the US stock market.
Calendar
15:30 UTC
The US publishes a report on crude oil reserves. Analysts expect a decrease of 2.1 million barrels. If there is an increase in reserves, Brent will come under pressure.
Assets to trade: Brent
News
Alibaba will set up a holding company for the AntGroup’s IPO. Affects AliBaba
The stock market is growing after the adoption of the US economic stimulus package. Affects S&P 500
The largest investment deal between the EU and China may be announced this week. Affects DAX
Beijing has locked 10 districts due to the COVID-19 outbreak. Affects Brent
Technical Analysis
S&P 500
The S&P 500 ends the year 2020 near all-time highs as the US government avoided a shutdown and the budgets were agreed. In addition, Americans will receive increased stimulus checks, and mass vaccination could stop the COVID-19 pandemic.
From the technical analysis point of view, it is time for the main US index to correct, but investors believe in growth and the impact of low interest rates.
Bitcoin
The pin bar candlestick pattern and the bearish divergence on the MACD could send the first cryptocurrency into a decline cycle.
AUD/JPY
The currency pair is unlikely to continue to rise as the investment community doubts Australia’s economic growth due to the conflict with China. The quotes are likely to go down.
AUD/JPY on this day in history
- Since 2000, December 30th has been a trading day 13 times.
- On 61% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.82%.
- The downward trend was limited to 0.55%.