Today, the focus is on a slight increase in industrial production in the UK, a steady rise in the incidence of COVID-19, and Boeing’s forecasts.
The US PPI will be published. The indicator is expected to grow by 0.2%. If the real data turns out to be higher, the USD will receive a positive impulse.
Assets to trade: USD/CHF, EUR/USD
Boeing predicts an increase in demand for aircraft in China. Affects Boeing
COVID-19 incidence rates are breaking new records in the United States. Affects the S&P 500
Industrial production in Great Britain increased by 0.2% against the forecast of 1%. Affects GBP
OPEC+ may postpone the increase in oil production. Affects Brent
The International Energy Agency believes the COVID-19 vaccine is unlikely to improve the oil market. Affects Brent
Boeing has published forecasts for the recovery in aircraft demand over the next 20 years. In this case, China can become the driving force. Now the company’s shares are at a relatively low price level. In the long term, however, Boeing’s stock could rise. Plus, the infamous 737 MAX may be approved for US operation in November.
Investment company Seaport Global Securities set a target price for Boeing shares at $270 in July. From the point of view of technical analysis, this scenario can be realized within the boundaries of the ascending channel.
The currency pair was rebuffed by the resistance level of 81.5. If quotes fail to stay above 80.5, the asset may fall into a prolonged downtrend.
The asset may continue to strengthen within the boundaries of the descending channel. The positive trend may target a range around 0.90300.
EUR/GBP on this day in history
- Since 2000, November 13th has been a trading day 14 times.
- On 35% of those days, the asset finished trading with growth.
- The maximum strengthening range was 3.03%.
- The downward trend was limited to 0.96%.