Analytics

News, Trends, & Analytics 23.12.2021

US Jobs Data and Canadian GDP  

Today the focus is on US Initial Jobless Claims and Canadian Monthly GDP change.

 

Calendar

13:30 UTC

US Initial Jobless Claims will be out. Forecast: 205K Lower-than-expected figures may boost USD.

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


15:30 UTC

Canadian Month-on-Month GDP Change for October will be announced. Forecast: 0.8% CAD may increase if the actual data is higher than the forecast.

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

 

News

UK GDP was reported to have grown less than expected in the last quarter. Affects the FTSE 100


The World Bank has revised its forecast for China’s economic growth in 2022 downwards.  Affects Gold


Unlike Pfizer and Moderna, Johnson & Johnson’s vaccine was reported to not be as effective against Omicron according to recent research. Affects Johnson & Johnson


Procter and Gamble recalled some of its products on concerns that they may contain cancer-causing chemicals. Affects Procter and Gamble

 

Technical Analysis

Procter and Gamble

$147 has been capping this stock since 2020. Recently, this key resistance level was crossed by a confident uptrend reaching $160.

In the last several days, the stock has cooled off, going below $160. However, we don’t expect it to lose bullish momentum and believe it will be going up.

FTSE 100

With all the volatility, this index appears to be steadily moving up towards 7,400.

Johnson & Johnson

The stock is slowly drifting downwards in a channel. Its nearest objective may be at the support level of $160.

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