Analytics

News, Trends, & Analytics 18.11.2020

Tesla will become part of the S&P 500

Today the focus is on OPEC+ readiness to extend oil production restrictions, the successful report from Baidu, as well as Tesla as part of S&P 500

 

Calendar

13:30 UTC

A report on the number of building permits issued in the United States for October will be published. The forecast is 1.56 million. If the real data turns out to be higher, the USD will receive a positive impulse.

Assets to trade: USD/CHF, EUR/USD


15:00 UTC

ECB President Christine Lagarde will deliver a speech. Such events can cause an increase in the volatility of currency pairs with EUR.

Assets to trade: EUR/CHF, EUR/USD


15:30 UTC

The report on changes in US crude oil reserves will be published. Forecast: an increase of 1.95 million barrels. Any value higher than expected could lead to a decline in oil prices.

Assets to trade: Brent, USD/RUB

 

News

Tesla shares will be included in the S&P 500 index. Affects Tesla


An OPEC+ source said that oil workers are preparing to extend the agreement to reduce the volume of black gold production. Affects Brent

 

Baidu’s quarterly revenue exceeded forecasts. Affects Baidu

 

Amazon has announced the launch of an online pharmacy. Affects Amazon


The head of the Bank of England stressed the importance of the news about the emergence of a vaccine against COVID-19. Affects Gold

 

Technical Analysis

Tesla

On December 21 this year, the company’s shares will be included in the S&P 500 index. This means that the company will receive support, including large investment funds. Against this background, Tesla’s capitalization has broken above the value of $400 billion.

It is possible that the positive trend of the shares will continue to the level of 500, the previously set target by Deutsche Bank.

CAD/JPY

The currency pair has formed a head and shoulders reversal pattern. We are waiting for quotes to break through the upward support line.

GBP/JPY

The asset is consolidating above the support level of 137.600. We expect an upward trend to activate.

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