Analytics

News, Trends, & Analytics 15.01.2021

The market responds to Biden

Today the focus is on  Google getting bigger, Tesla’s car troubles, and President-elect Biden’s plans. 

 

Calendar

7:00 UTC

The British GDP MoM will be released. If the difference is less than the previous 0.4%, the GBP could receive a negative impulse.

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


13:30 UTC

US Core Retail Sales (MoM) Dec will be reported. Forecast: -0.1%. A reading higher than forecast could positively impact the USD.

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

 

News

The anticipation of President-elect Joe Biden’s pandemic aid proposal to jump-start a struggling economy lead to record highs for the NASDAQ. Affects Dow Jones


Google has closed its deal to buy Fitbit, the companies said on Thursday, while the Justice Department continues its probe of the $2.1 billion transaction. Affects Google


Americans spent a record online over the 2020 holiday season, and more e-commerce gains are expected. Affects Amazon


The NHTSA: in the US, on Wednesday, asked Tesla Inc to recall 158,000 Model S and Model X vehicles over media control unit failures that could pose safety risks. Affects Tesla


The House of Representatives impeached Trump for a second time. Affects USD

 

Technical Analysis

Dow Jones

President-elect Joe Biden unveiled a stimulus package proposal on Thursday intended to reignite the economy during the coronavirus pandemic with a $1.9 trillion economic lifeline that could help heavily impacted and minority communities. The market reacted positively to the news of stimulus.

A new resistance level was established on the index’s daily chart, and prices will likely bounce below the line.

EUR/AUD

The pair is in a long downtrend, and the Bearish Engulfing signal indicates a further drop.

Platinum

The precious metal has tested its resistance level once and retreated, and it poised to do the same again.

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