Analytics

News, Trends, & Analytics 02.09.2021

Chips From Google

Today the focus is on Boeing losing a major customer to Airbus, Exxon Mobil introducing a renewable diesel project, and Amazon revealing ambitious hiring plans.

 

Calendar

12:30 UTC

The United States Initial Jobless Claims will be released. Forecast: 345K. If the data is higher than expected the USD could receive a negative push.

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

 

News

Private payrolls data missed the estimates, tempering the investors’ enthusiasm about the positive economic results. Affects Dow Jones


According to the report, Google is looking into manufacturing and using its own computer chips, similar to Apple, to sidestep the global chip shortage. Affects Google


Amazon continues its expansion, as the company revealed its plans to hire more than 40,000 people in the US. Affects Amazon


Exxon Mobil introduced EMRD, a process that refines renewable feedstocks into diesel fuel, allowing the company to go greener. Affects Exxon Mobil


Boeing has lost a long-standing customer in the face of a British leisure airline Jet2.com who turned to Airbus instead. Affects Boeing

 

Technical Analysis

Boeing

Boeing has been hit hard by the pandemic, and even partial reopening of the world is yet to take it out of the red. So the latest news of the company losing its long-standing customer and not managing to negotiate a price for the Ryanair contract pulls its stock price down.

The company’s stock is currently moving in a narrowing price channel, with a strong possibility to break through downwards.

USD/JPY

The pair is moving up after bouncing hard from the support level.

Dow Jones

The index is slipping significantly and there are no signs of a trend reversal.

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