Analytics

News, Trends, & Analytics 12.08.2021

Oil Production Is Down On The News

Today the focus is on a new Boeing deal in India, a decrease in the US inflation rates, and Amazon expansion plans in the US.

 

Calendar

12:30 UTC

The United States Initial Jobless Claims will be released. Forecast: 375K If the data is higher than expected, the USD could receive a negative push.

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


12:30 UTC

The US Producer Price Index measures will be released. Forecast: 0.5% If the data is higher than expected, the USD could receive a positive push.

Assets to trade: GBP/USD, AUD/USD, NZD/UD

 

News

Oil falls as the US calls on the OPEC+ to boost its production rates. Affects Brent


Amazon announces its new expansion plans for the US, adding more Robotics Fulfillment centers to its roster. Affects Amazon


Inflation rates in the US slow down their growth, giving the economy and investors more breathing room. Affects USD


Boeing is poised to win a huge 737 Max deal with a new Indian budget carrier. Affects Boeing


General Electric Digital has been recognized as a leader in the competitive field with a focus on customer success by Verdantix. Affects General Electric

 

Technical Analysis

Brent

While the demand for crude oil keeps rising on the recovery from the pandemic, though its price is holding steady as the production ramps up as well.

Brent is currently moving to rebound from its earlier drop in price, and unless more news hits the market, we expect it to go up to its yesterday’s level.

USD/CAD

The pair is currently in a correction, attempting to reverse its current downtrend, but it is more likely that its downwards movement will continue.

Bitcoin

The crypto is moving in an upward pattern, and though its momentum is fading, we can expect it to go keep going up today.

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