Analytics

News, Trends, & Analytics 11.01.2022

Interest Predictions

Today the focus is on labor shortages, sticky oil prices, & possible US rate hikes.

 

Calendar

10:20 UTC

ECB President Lagarde will Speak. Her speech will likely impact the value of the EUR.

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

 

News

Service at US restaurants has slowed as Omicron, the latest COVID-19 variant, sickens workers and scares off others, leaving many businesses without enough staff. Affects Starbucks


The US Federal Reserve will hike interest rates four times this year and begin the runoff process for its balance sheet as soon as July, Goldman Sachs economists said. Affects USD


Oil prices were largely steady on Monday as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections. Affects Brent


Analysts expect big US banks to show an uptick in fourth-quarter core revenues thanks to new lending and firming Treasury yields even while headline earnings will be mixed on differences in how each institution accounted for pandemic loan losses. Affects JP Morgan Chase


British manufacturers are optimistic that business conditions and productivity will improve this year despite most saying they have been hurt by Brexit and rising costs, according to an industry survey published on Monday. Affects GBP

 

Technical Analysis

GBP/USD

The US labor market has been hit hard by the Omicron variant slowing the production in some industries, though many officials remain optimistic. The UK has handling the impacts of Brexit on top of the latest covid variant often leaving the country in a tight spot, which keeps tightening as cases rise and people isolate.

The pair has reflected off of its resistance level and may find support around 1.3500 and return to test the resistance area.

NASDAQ

The US index has shown a steep decline and is testing its support zone, momentum may carry it lower.

Amazon

Prices have dropped sharply to its support zone, momentum may not push it through the zone.

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