Analytics

News, Trends, & Analytics 02.06.2021

Wall St Indices Near Record High

Today the focus is on soaring oil prices, a bullish Boeing forecast, and Apple increasing its smartwatch market share.

 

Calendar

12:30 UTC

The Canadian Building Permits MoM measures will be released. Forecast: -4.8%. A higher-than-expected reading could give a positive push to the CAD.

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

 

 

News

The S&P 500 opened high as investors predict that economically sensitive assets will profit the most from the post-pandemic recovery. Affects S&P 500


As expectations of growing fuel demand keep rising, Brent soared past $70, climbing to the highest levels in more than two years. Affects Brent


As smartwatches become ever more popular, Apple Watch strengthened its positions in the market. With the Model 6 release, the company’s smartwatch market share increased to 33.5%. Affects Apple


Elon Musk blames supply chain pressure for the recent increase in Tesla prices. Affects Tesla


Cowen analyst, Cai von Rumohr, turned bullish on Boeing stock citing improving air traffic and possible positive resolution of the regulatory probe. Affects Boeing

 

Technical Analysis

Apple

While Apple’s sales figures and financial results have proven themselves more than adequate, its stock price has been stuck in a downtrend. Some analysts are even advising investors to sell. It is unclear whether the new iPhone model 12S will break this trend.

Apple is moving in a downward pattern but is likely to start growing again once it reaches a support level at 123.

Gold

Gold is in a sharp dive, losing all of last week’s gains, and is likely to break through the previously established support level of 1890.

AUD/USD

The currency pair is once again set to test its resistance level, but we expect that it once again it will fail to overtake it and reverse off it.

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