Analytics

News, Trends, & Analytics 09.11.2021

Jobs & Inflation

Today the focus is on German Christmas, Elon’s Twitter poll, and The Fed’s Plans.

 

Calendar

10:00 UTC

The German ZEW Economic Sentiment for November will be released. Forecast: 20.0 If the data is lower than expected the EUR could see a negative push.

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

 

News

More than a year and a half after the COVID-19 pandemic ruptured the US job market in a historic fashion, huge gaps in employment and the labor force remain despite unprecedented demand for workers and a record number of vacant jobs. Affects USD


US Federal Reserve officials on Monday turned their focus towards a debate over interest rate policy that is likely to intensify in the coming months, with one top official saying the conditions for a rate hike could be met next year with job growth expected to continue and inflation already pushing beyond comfortable levels. Affects USD


German retailers are expecting Christmas sales to rise 2% to 111.7 billion euros ($129.06 billion) despite inflation, delivery problems, and a new wave of coronavirus infections. Affects DAX


Tesla Inc shares fell 4.5% on Monday as investors prepared for its chief Elon Musk’s proposed sale of about a tenth of his holdings in the electric-car maker following his Twitter poll. Affects Tesla

 

Technical Analysis

GBP/USD

The Infrastructure bill that passed in the US has spiked the dollar against most currencies. However, there has been a strong surge in the GBP as the UK gets a hold on supply and Brexit issues.

The pair has shown a Bullish Engulfing pattern indicating a possible return to an uptrend.

Visa

The creditor has shown a Three White Knights pattern indicating a possibly strong uptrend.

Brent

The chart has shown a Bullish Engulfing pattern and the uptrend seems to have momentum.

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