News, Trends, & Analytics 22.10.2021

Antitrust for Energy

Today the focus is on Bitcoin taking off, Big tech getting questioned, & US energy mergers.



7:30 UTC

The German Manufacturing PMI for October. Forecast: 56.5. If the data is lower than expected the EUR could see a negative push.

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

12:30 UTC

The Canadian Core Retail Sales (MoM) for August. Forecast: 2.8%. If the results are lower than expected the CAD could receive a negative push.

Assets to trade: USD/CAD, EUR/CAD, NZD/CAD



US antitrust regulators have extended the approval process for at least five oil and gas mergers and acquisitions in the last three months, as President Joe Biden’s administration scrutinizes deals in a bid to tackle soaring energy prices, according to regulatory filings and corporate lawyers. Affects USD

Dow Inc on Thursday forecast better-than-expected revenue for the fourth quarter after beating estimates on higher prices across its business following a rebound in economic activity and tight supplies after Hurricane Ida. Affects Dow Jones

Bitcoin hovered on Thursday below its all-time high struck a day earlier after the launch of the first US bitcoin futures exchange-traded fund, though J.P. Morgan analysts voiced doubt over its impact on cryptocurrency investment flows. Affects Bitcoin

The US consumer watchdog is expected this week to query tech giants including Facebook, Amazon, and Google on how they handle consumer financial data as part of a broader effort to boost consumer protections and financial sector competition, according to two people briefed on the matter. Affects Facebook

Oil hit a three-year high above $86 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched. Affects Brent


Technical Analysis


The inflation felt by companies across the US seems to be staying. As markets react and prices rise, concerns around the future of the USD and Fed tapering have slowed its climb.

The pair is testing a recent support level but may not break it.

S&P 500

The US index is approaching previous highs and testing its resistance level.

Russell 2000

This US index has shown a Three White Knights pattern heading into it resistance level. Momentum may be enough to carry it above the line.

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