Analytics

News, Trends, & Analytics 10.11.2021

US Consumer Prices

Today the focus is on the US Core Monthly CPI, Jobless Claims, and Crude Oil Inventories.

 

Calendar

13:30 UTC

US Initial Jobless Claims. Forecast: 265K. If the actual figure is higher, USD may decline.

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


13:30 UTC

US Core Monthly CPI for October. Forecast: 0.4%. Higher-than-expected data may drive USD upwards.

Assets to trade: AUD/USD, USD/CAD, USD/CHF

 

News

A bullish streak as long as eight days hasn’t been seen in the US stock market for the last two decades. Affects S&P 500


More than half of Elon Musk’s 63-million Twitter subscribers suggested he should sell 10% of his Tesla shares to pay the recently proposed “billionaires tax.” That made Tesla shares drop by 5%. Affects Tesla


Meta, previously known as Facebook, will use chips produced by AMD. The announcement pushed the shares of AMD up 10%. Affects AMD

 

PayPal announced a partnership with Amazon to allow US customers to pay with Venmo. Affects Amazon


The Japanese Prime Minister Fumio Kishida shared ambitious plans for national wealth distribution to initiate a new cycle of growth. Affects JPY

 

Technical Analysis

S&P 500

The US stock market has lately been consistent in its optimism. The eight-day winning streak brought the index to 4,700.

The extrapolation of the previously set bullish trend suggests that reaching 4,800 in the near future is also a possibility.

Alibaba

With the ongoing Chinese regulatory crackdown, Alibaba is likely to keep dropping.

Gold

Breaking the resistance of 1,830 would mean that gold may be headed towards 1,900.

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