Analytics

News, Trends, & Analytics 14.09.2021

Greece’s High Hopes

Today the focus is on US Corporate taxes, rising oil, and Greek stimulus.

 

Calendar

6:00 UTC

The British Average Earnings Index + Bonuses for July will be released. Forecast: 8.2%. If the data is lower than predicted the GBP could see a negative push.

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


12:30 UTC

The US Core CPI (MoM) for August will be reported. Forecast: 0.3%. If the data is lower than expected the USD could receive a negative push.

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

 

News

Greece said on Monday it will pump more money into its economy to prop up businesses and households battered by the pandemic, as a stronger-than-expected growth forecast for the year gave it the fiscal leeway for a raft of relief measures. Affects EUR


The USD began a week full of big economic data on a firm footing, with investors wary of the Federal Reserve beginning its exit from super-supportive policy even as cases of the coronavirus surge. Affects USD


The German economy will pick up steam in the third quarter but business activity will cool again in the final three months of the year, the economy ministry said on Monday. Affects DAX


Oil rose on Monday, supported by concerns over shut output in the United States because of damage from Hurricane Ida, with analysts expecting prices to remain rangebound in a stable market over the coming months. Affects Brent


Leading Democrats in the US House of Representatives said on Monday that they are seeking to raise the nation’s tax rate on corporations to 26.5 percent, up from the current 21 percent. Affects S&P 500

 

Technical Analysis

EUR/CAD

Greece and other countries in the EU have high expectations for Q3 which has contributed to its climb against slightly weaker currencies like the CAD. Canada’s economy has fluctuated with the price of oil but has not been able to keep pace with the EUR.

The pair is climbing an upward support level. It is approaching the intersection of the support line and resistance line. Prices will likely break above the resistance level.

Dow Jones

The US index is testing its support level forming a possible Tweezer Bottom, indicating a possible reversal.

EURO STOXX 50

The European index is trading in an upward trending slowly narrowing Pennant.

Related posts
Analytics

Weekly News 20.01 — 24.01.2020

Introducing the most complete review of the upcoming week from analysts Olymp Trade. It included both the news of the economic calendar and the world events that in one way or...
Analytics

News, Trends, & Analytics 08.08.2019

At the end of August, a seismic reconnaissance ship will also join two Turkish drilling ships. Turkey has not abandoned its plans to extract oil off the coast of Cyprus.
Analytics

News, Trends, & Analytics 26.06.2020

The number of initial applications for unemployment benefits in the US for the week continues to hold above 1 million for the 14th consecutive weeks.