Analytics

News, Trends, & Analytics 24.06.2021

Boeing Waiting to Take Off

Today the focus is on the new Iranian deal, new US anti-trust laws, Boeing vs. China.

 

Calendar

8:00 UTC

The German Ifo Business Climate Index data for June will be released. Forecast: 100.6. If the data is lower than expected, the EUR could receive a negative push.

Assets to trade: AUD/EUR, NZD/EUR, EUR/CHF


11:00 UTC

The Bank of England’s Interest Rate Decision will be announced. Forecast: 0.10%. If the results are higher than predicted the GBP could receive negative pressure.

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


12:30 UTC

The US GDP (QoQ) for Q1 will be released. Forecast: 6.4%. If the data is lower than expected the USD could receive a negative push.

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


12:30 UTC

The US Initial Jobless Claims data will be reported. Forecast: 380K. If results are lower than predicted, the USD could receive a positive push.

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

 

News

Iran said on Wednesday the United States had agreed to remove all sanctions on Iran’s oil and shipping, although Germany cautioned that major issues remained at talks between Tehran and world powers to revive a 2015 nuclear deal. Affects Brent


At the height of Europe’s vaccine supply crisis in March, Johnson & Johnson’s (J&J) single-dose COVID-19 vaccine was touted as a game-changer. But two months into its rollout, the shot has the lowest uptake of all four approved vaccines. Affects Johnson & Johnson


Trade power tensions, regulatory hurdles, and attempts by the West to counter Chinese competition are delaying a return of the 737 MAX in China, frustrating Boeing Co (BA.N) as a potential rival demonstrates its growing influence. Affects Boeing


Inflation pressures faced by British firms hit record levels this month, and growth in the private sector cooled only slightly from an all-time high in May when coronavirus restrictions were lifted, a survey showed on Wednesday. Affects GBP

 

Technical Analysis

Boeing

After months of turmoil, the 737 Max has be reinstated in much of the world, while China continues to hold out on approving the aircraft for service. Competitors have gained some footing in the mainland, as the company has clawed back from groundings around the world.

The chart shows an uptrend testing the resistance level around 247.043, it may not break through.

EURO STOXX 50

This index has shown a Hammer, and is now testing the support level around 4092, if it does not drop below the trend is still upward.

Copper

This metal has shifted into an uptrend, it is testing its resistance level around 4.33, and could break past it to the next level of resistance around 4.44.

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