Analytics

News, Trends, & Analytics 09.07.2021

EU’s Increasing House Prices

Today the focus is on Canadian jobs data, the speech from the Bank of England’s Governor, Andrew Bailey, and the beginning of G20 Meetings.

 

Calendar

10:00 UTC

European Central Bank President, Christine Lagarde, will speak. If she shares an optimistic economic outlook for the EU, EUR may be lifted.

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


10:00 UTC

Bank of England Governor, Andrew Bailey, speaks. Hawkish tones in the provided information may push GBP.

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


12:30 UTC

Canadian Employment Change will be released. Forecast: 195.0K. If the actual figure is higher than the forecast, CAD will receive a boost.

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

 

News

Housing prices in the EU are reported to have grown by 6.1% in the first quarter of 2021 against the same period in 2020. That’s the fastest growth pace in the last 14 years. Affects EUR


Last Thursday, the ECB said it would include climate change considerations into monetary policy and will tolerate inflation above the previously targeted 2% if the jump seems temporary. Affects EUR


The US Federal Reserve advised it’s not going to wrap up the supportive monetary policy just yet, but it could be close to ending it. Affects USD


In the US, 36 states sued Google on alleged power abuse by the tech company against developers on the Google Play store. Affects Google


Visa confirmed it allows its cardholders to make crypto payments to more than 70 million merchants globally. However, the merchants will receive payments in regular currency. Affects BTC

 

Technical Analysis

Brent

OPEC’s internal discords are becoming a threat to the stability of the oil price. Not so long ago, Brent was marching at $78. After a series of sessions that only revealed disputes among the OPEC country members, Brent is at $73 now.

Technically, the oil price is now testing the lower border of the uptrend that was there for four months. If it drops further, this trend may be considered invalid.

FTSE 100

FTSE dropped slightly below the psychological support of 7,000. If it doesn’t bounce back soon, it will be safe to assume that the index is going into a short-term decline.

Gold

The gold price is moving upwards again. If bulls keep pressing, 1,850 may be the closest mid-term target.

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