Today the focus is on Amazon seeking a new credit card issuer, oil rising once more, and the discovery of a new oil deposit.
The US Core Consumer Price Index (MoM) will be released. Forecast: 0.4%. If the results are lower than expected, USD could receive a negative push.
Assets to trade: USD/JPY, EUR/USD, USD/CAD
The United States Initial Jobless Claims measures will be released. Forecast: 370K. If the results are lower than expected, USD could receive a positive push.
Assets to trade: AUD/USD, GBP/USD, USD/CHF
Mastercard decided to temporarily remove its brand from Copa America citing COVID 19 concerns. Affects Mastercard
Investors are waiting on the upcoming US inflation reading, causing major US indices to stay flat. Affects Dow Jones
Crude oil pushes higher as the US economy reported the increase in demand. Affects Brent
ExxonMobil reports the discovery of new oil and gas reserves near Guyana. Affects Exxon
Amazon is considering the possibility of replacing JPMorgan as the issuer on its co-brand credit card. Affects JPMorgan
JPMorgan is a major American investment bank, and it profited greatly from the rising demand in bank services during the pandemic, and especially during the recovery. However, this loss of a big customer can hurt it in the short term.
The stock is showing a clear downward movement, interspersed with corrections, and we don’t expect it to stop in the near future.
The pair is spiking right now, but unless it manages to break through the major resistance level of 110, we believe that it will slip once again.
While oil opened with an upward trend, currently we see it going flat as it didn’t manage to overtake the price of 72.5. Expect it to slightly slip later today.