Analytics

News, Trends, & Analytics 01.10.2021

Inflation to Stay?

Today the focus is on Uber joining a protest, US jobless claims, & sticky inflation in the EU.

 

Calendar

8:30 UTC

The British Manufacturing PMI for September will be released. Forecast: 56.3. If the result is lower than expected the GBP could see a negative push.

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


9:00 UTC

The EU CPI (YoY) for September will be announced. Forecast: 3.3%. If the data is higher than predicted the EUR could see positive pressure.

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


12:30 UTC

The Canadian GDP (MoM) for July will be reported. Forecast: -0.2%. If the data is lower than expected the CAD could receive negative pressure.

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


14:00 UTC

The US ISM Manufacturing PMI for September will be published. Forecast: 59.6. If the data is lower than expected the USD could receive a negative push.

Assets to trade: USD/NOK, USD/SGD, USD/JPY

 

News

German inflation accelerated at a record pace in September, data showed on Thursday, highlighting growing price pressures as Europe’s largest economy recovers from the pandemic and its companies grapple with supply shortages. Affects EUR


Uber Technologies Inc. joined a protest of its drivers in Brussels on Thursday with an unprecedented suspension of its service in the Belgian capital. Affects EURO STOXX 50


The number of Americans filing new claims for jobless benefits rose further last week amid another increase in California, but the labor market recovery remains intact, with unemployment rolls steadily shrinking in mid-September. Affects USD


A 4.34 billion euro ($5 billion) European Union antitrust fine was based on flawed calculations, Alphabet’s Google said on Thursday, urging Europe’s second-highest court to scrap or reduce what it said was not an appropriate penalty. Affects Google


Britain’s economy grew by more than previously thought in the April-June period before what looks like a sharp slowdown more recently as post-lockdown bottlenecks, including a shortage of truck drivers, mount. Affects GBP

 

Technical Analysis

EUR/CAD

The EUR has been falling against other currencies as uncertainty reigns over the zone. Inflation continues to rise as shortages across different industries make it seem more permanent.

The pair has shown a Three Outside Down pattern indicating the downtrend has strength.

Copper

After a Dragonfly Doji the chart has shown a Three Black Crows pattern indicating the trends strength.

Russell 2000

After testing its resistance level the chart has shown a Bearish Engulfing into a Three Black Crows that may push prices lower.

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