Analytics

News, Trends, & Analytics 01.09.2021

Oil Goes Up

Today the focus is on South Korea vs. Google and Apple, the US consumers losing confidence and possible damages to oil infrastructure by the Ida hurricane.

 

Calendar

12:15 UTC

The United States Nonfarm Employment Change for August will be released. Forecast: 613K. If the data is higher than expected the USD could receive a positive push.

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


14:00 UTC

The United States ISM Manufacturing Purchasing Managers Index (MoM) for August will be published. Forecast: 58.6. If the results are lower than anticipated the USD could receive a negative push.

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


14:30 UTC

The US Crude Oil Inventories measures will be announced. Forecast: -2.833M. If the data is higher than forecast Brent could see negative pressure.

Assets to trade: Brent

 

News

Traders assess the damage that Hurricane Ida caused to the US oil refining infrastructure, pushing up crude oil prices. Affects Brent


South Korea became the first country in the world to force tech giants Google and Apple to open their app stores to other payment systems. Affects Apple & Google


Stock prices of major tech companies dropped on the early trade, knocking the Nasdaq index from its record highs. Affects Nasdaq


The United States Consumer confidence dropped in August, as the slowing economic recovery rates, rise in the Delta strain cases, and fears of inflation hit the country. Affects USD


Ryanair is negotiating with Boeing on its MAX 10 prices, as the companies are in the talks about a possible order. Affects Boeing

 

Technical Analysis

Google

Lately, Google has faced several attempts to curb its growth and influence, with the South Korean case being one of the latest. While not debilitating on its own, there is a possibility that the tech giant would have to give up a tangible part of its app store revenue.

The company’s stock is currently entering a decline, though it is yet to form a steady downtrend.

Silver

The metal’s price has hit a support level, so we can expect it to increase.

Brent

Brent is once again testing its resistance level, so we believe that it will start to fall soon.

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