Analytics

News, Trends, & Analytics 15.07.2021

Inflation Rising?

Today the focus is on the global tax rate, Apple donations, and US inflation.

 

Calendar

6:00 UTC

The British Average Earnings Index +Bonuses for May will be released. Forecast: 7.1%. If the data is lower than expected the GBP could receive a negative push.

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


12:30 UTC

The US Initial Jobless Claims will be announced. Forecast: 360K. If the data is lower than predicted the USD could see a positive push.

Assets to trade: USD/MXN, EUR/USD, USD/NOK


22:45 UTC

The New Zealand CPI (Consumer Price Index) (QoQ) for Q2. Forecast: 0.8%. If the results are higher than expected the NZD could receive a negative push.

Assets to trade: NZD/CHF, GBP/NZD, NZD/JPY

 

News

U.S. President Joe Biden’s drive for big new infrastructure investment got a boost on Tuesday when leading Senate Democrats agreed on a $3.5 trillion investment plan they aim to include in a budget resolution to be debated soon, Senate Majority Leader Chuck Schumer said. Affects USD


Apple Inc (AAPL.O) on Wednesday said it had committed more than $1 billion out of a $2.5 billion fund aimed at addressing California’s affordable housing crisis. Affects Apple


Returning from Brussels, where U.S. Secretary of the Treasury Janet Yellen met EU officials on Monday and Tuesday following a G20 meeting in Italy over the weekend, Yellen faces a battle in the U.S. Congress over the Biden administration’s tax-hike plans that include the 15%-plus global corporate minimum levy agreed by 132 countries. Affects Google


U.S. producer prices increased more than expected in June, suggesting inflation could remain high as robust demand fueled by the economy’s recovery from the COVID-19 pandemic continues to strain the supply chain. Affects USD


The European Central Bank needs to see higher core inflation before changing its outlook and tightening policy, ECB board member Isabel Schnabel said on Wednesday. Affects EUR

 

Technical Analysis

EUR/USD

The USD continues to reclaim ground against currencies as the economy continues to reignite after the COVID cooldown. Though fears of inflation have come and gone for both the US and EU neither is ready to slow recovery measures in the face of uncertainty.

The pair is in a downtrend and quotes are testing the blue resistance level. The trend could continue.

GBP/CHF

The pair is testing the bottom of its resistance zone, while still under pressure of a downtrend.

BRENT

Prices are testing the resistance zone and riding a recent uptrend that may not have the strength to reach new highs.

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