Analytics

News, Trends, & Analytics 06.10.2021

Facebook in Focus

Today the focus is on the New Zealand interest rate and Facebook’s failures.

 

Calendar

01:00 UTC

Reserve Bank of New Zealand’s Interest Rate Decision and Rate Statement. Forecast: 0.50%. If RBNZ increases the rate, NZD may go up.

Assets to trade: NZD/USD, AUD/NZD, NZD/GBP


08:30 UTC

British Construction PMI for September will be released. Forecast: 54.0. If the released figure is higher than the forecast, it may push GBP upwards.

Assets to trade: GBP/USD, GBP/NZD, GBP/CHF

 

News

Global supply chains are reported to have suffered severe damage from the virus restrictions. Affects S&P 500


Facebook’s services were restored after a global disruption last night. Affects Facebook


Johnson&Johnson said its Covid vaccine is improved to 94% efficiency. Affects Johnson&Johnson


Despite low global investor moods, Bitcoin is back up to $50,000. Affects Bitcoin


PepsiCo reported strong Q3 performance and announced an upbeat yearly outlook. It’s Coca-Cola’s turn now. Affects Coca-Cola

 

Technical Analysis

Bitcoin

During the last several weeks, Bitcoin has been falling. Mostly, that was due to investors’ risk aversion. Currently, the landscape appears to be changing. Although fundamental problems such as covid and inflation are still there, the crypto market is picking up optimism.

Bitcoin is knocking on the door of the resistance level of $50,000. If it is broken, $52,000 will need to be passed to give way to a possible new bullish trend.

Brent

We recommend traders to be now extremely cautious with Brent’s uptrend. After it has broken the resistance level of $80, it may reverse to retest the price downwards.

Facebook

Facebook’s former project manager will share with the US Senate Facebook’s failures soon. That may put more pressure on the stock and drag it down to $300.

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