Analytics

News, Trends, & Analytics 18.12.2020

Google conspired with Facebook?

Today the focus is on the reduction of unemployment in EU countries, the decision by the Bank of England on the interest rate, as well as the antitrust case against Google.

 

Calendar

13:30 UTC

Canada’s Core Retail Sales Index for October will be released. The indicator is expected to grow by 0.2%. Exceeding the forecasted value will positively affect the CAD.

Assets to trade: EUR/CAD, USD/CAD

 

News

The Texas Attorney General Ken Paxton believes that Google and Facebook have entered into an agreement. Affects Google


The Bank of England is expanding its government bond purchase program and also keeps the key rate unchanged. Affects GBP


The US Treasury Department has added Switzerland to the list of countries that deliberately devalue their currencies. Affects CHF


Michelle Barnier reiterates progress in trade negotiations with the UK. Affects GBP


The unemployment rate fell in Sweden and Greece. Affects EUR

 

Technical Analysis

Google

A fairly serious antitrust case will be considered in a US court. The Texas Attorney General Ken Paxton has filed a lawsuit against Google and Facebook on suspicion of conspiracy to control the price of online advertising auctions.

From the point of view of technical analysis, the company’s shares may sink to 1650 per share, after which a positive impulse from the upward support line will be received.

GBP/JPY

An inverted head and shoulders pattern has formed on the chart of the currency pair, which hints at a continuation of the uptrend.

NZD/CAD

The nearest resistance level for an active uptrend is located near 0.91500, so the upside potential has not been exhausted.

NZD/CAD on this day in history

  • Since 2000, December 18th has been a trading day 14 times.
  • On 71% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.88%.
  • The downward trend was limited to 1.06%.
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