Today the focus is on Alibaba’s growth rate, Oil reserves, & Facebook combating misinformation.
The British Retail Sales (MoM) for October will be released. Forecast: 0.5%. If the data is lower than expected the GBP could see a negative push.
Assets to trade: GBP/USD, GBP/NOK, GBP/JPY
Canadian Core Retail Sales (MoM) data for October will be published. Forecast: -1.0% If the data is higher than expected the CAD could see some positive pressure.
Assets to trade: USD/CAD, GBP/CAD, CAD/JPY
China’s Alibaba Group Holding Ltd, forecast annual revenue to grow at its slowest pace since its 2014 stock market debut as second-quarter results missed expectations due to slowing consumption, increasing competition, and a regulatory crackdown. Affects Alibaba
Tesla is recalling 7,600 vehicles in the United States because the driver’s airbag cushion may tear during deployment, the National Highway Traffic Safety Administration said Thursday. Affects Tesla
Facebook advertisers promoted false and misleading claims about climate change on the platform in recent weeks, just as the COP26 conference was getting underway. Affects Facebook
The number of Americans filing new claims for unemployment benefits fell close to pre-pandemic levels last week as the labor market recovery continues, though a shortage of workers remains an obstacle to faster job growth. Affects USD
The world’s biggest economies said on Thursday they were looking into releasing oil from their strategic reserves, following a rare request from the United States for a coordinated move to cool global energy prices. Affects Brent
Days after Facebook’s vice president of global affairs, Nick Clegg, touted the company’s efforts to combat climate misinformation in a blog post as the COP26 summit began, conservative media network Newsmax ran an ad on Facebook that received over 200,000 views, called man-made global warming a “hoax.” Failing to curb misinformation, could put more negative pressure on the stock’s price.
The chart has shown Three Black Crows, but will soon test its support level.
The tech giant is on an uptrend. But it may not have the strength to break its resistance level.
The Japanese index has shown a Three Outside Down pattern indicating the strength of the downtrend as it head toward its support level.