Analytics

News, Trends, & Analytics 03.06.2021

Morgan Stanley Goes Digital

Today, the focus is on Microsoft-MS cooperation, Coca-Cola is backing a new environmental project, and Amazon is supporting marijuana legalization.

 

Calendar

12:30 UTC

The US Department of Labor will release its weekly Initial Jobless Claims report. Forecast: 390K. A lower-than-expected reading could give a positive push to the USD.

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


15:00 UTC

The weekly US Crude Oil Inventories report will be released. Forecast: -2.114M. A higher-than-expected reading could give a negative push to Brent.

Assets to trade: Brent

 

News

Twitter is looking into placing ads on its latest feature, Fleets, in order to boost its revenue. Affects Twitter


The SEC sent a letter to Tesla accusing them of failing to uphold a settlement agreement as it didn’t manage to oversee Elon Musk’s tweets that affected cryptocurrency prices. Affects Tesla


Morgan Stanley and Microsoft have announced cooperation in order to accelerate the bank’s digital services availability. Affects Morgan Stanley


Coca-Cola partnered up with The Ocean Cleanups, becoming the first global implementation partner for its River Project. Affects Coca-Cola


Amazon is backing federal legalization of marijuana, and changed rules for its consumption among its workers. Affects Amazon

 

Technical Analysis

Amazon

Amazon had a rough start of the year. Backing a failed IPO, several probes by European watchdogs over its worker’s conditions, and general discontent with its worker policies are some of the issues. At the same time, it profited from the increase in online shopping during the pandemic and shows good financial results in its earnings.

The stock is currently exiting a downtrend and moving sideways, though it has the potential to keep moving down again.

Ethereum

Ethereum is moving upwards and set on a course to reclaim what it lost during the most recent crash. We expect it to keep growing until it reaches pre-crash resistance level.

GBP/CHF

The currency pair is set to reclaim yesterday’s losses, spiking shortly after opening.

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