Today the focus is on the stock market rally, Boeing-Airbus trade dispute breakthrough, and EU watchdogs probing big tech companies.
The US Building Permits measures will be announced. Forecast:1.730M. If the result is lower than forecast, the USD could receive a negative push.
Assets to trade: EUR/USD, USD/JPY, GBP/USD
The US Crude Oil Inventories will be released. Forecast: -3.000M. If the data is lower than predicted, Brent could receive a positive push.
Assets to trade: Brent
Boeing and Airbus have achieved a “breakthrough” in their trade dispute, made an agreement with the EU to counter China’s “non-market practices.” Affects Boeing
Facebook might face more scrutiny and sanctions from the European Union as its top court supported national privacy watchdogs in their pursuits, even though they are not lead regulators. Affects Facebook
Malaysia has granted conditional approval to the distribution of J&J’s COVID-19 vaccine. Affects Johnson & Johnson
Google and Apple to be probed by the UK regulators over concerns that they are using their dominant position on the market to treat customers unfairly. Affects Google
The current stock market rally bolsters Dow Jones Index, as it nears its record highs from the end of May. Affects Dow Jones
Boeing and Airbus have long competed for dominance on the plane production, and the pandemic with its disruption of global travel didn’t help the matters. With the agreement between the two companies looking closer, the hopes for the improvement of Boeing’s financial situation are rising.
The stock is currently in a clear downtrend, interspersed with corrections, though there are signs that it might soon find a new support level.
Brent is moving upwards, though we can see that it has reached a resistance level at 73.5, so expect it to fall back slightly.
The second most popular crypto is losing its earlier gains, seeking to return to its yesterday’s levels. Expect it to continue falling today.