Today, the focus is on business growth in China, the effectiveness of the Moderna vaccine, and the OPEC+ meeting.
The EU consumer price index for November will be published. The indicator is expected to fall by -0.3%. If the real data turns out to be above 0, the EUR will receive strong support.
Assets to trade: EUR/CHF, EUR/USD
Canada’s September GDP report will be released. An increase of 0.9% is forecast. If the real data exceeds the forecast, the CAD will grow.
Assets to trade: EUR/CAD, USD/CAD
US Federal Reserve Chairman Jerome Powell will deliver a speech. The event may cause an increase in USD volatility.
Assets to trade: USD/CHF, USD/JPY
ECB President Christine Lagarde will deliver a speech. The event may cause an increase in EUR volatility.
Assets to trade: EUR/CHF, EUR/JPY
Disney will lay off 4,000 more employees. Affects Disney
Moderna is asking for permission from the U.S. government to use its COVID-19 vaccine in an emergency. Affects the S&P 500
OPEC+ fears the resumption of shale oil production in the United States. Affects Brent
Business activity in China outside the manufacturing sector is growing for the fifth month in a row. Affects Brent
ECB President Christine Lagarde said the adoption of the fiscal stimulus package should not be delayed. Affects EUR
After an active take-off, the company’s shares are at risk of falling under pressure due to uncertainty among the OPEC+ countries, which are trying to choose the optimal moment to increase production.
According to the technical analysis, the chart of the company’s shares may continue to decline until it reaches an upward support level. A return to the uptrend may occur around $38.
A pin-bar candlestick pattern has formed on the asset’s chart. We expect a decline in quotations.
The bullish trend of the currency pair may return if the quotes hold above the uptrend line. However, if the chart breaks below 1.55150, a bearish scenario could be activated.
EUR/CAD on this day in history
- Since 2000, December 1st has been a trading day 13 times.
- On 53% of those days, the asset finished trading with growth.
- The maximum strengthening range was 1.42%.
- The downward trend was limited to 1.77%.