News, Trends, & Analytics 24.11.2021

Jerome Powell for Second Term

Today the focus is on the New Zealand Interest Rate, the US economic data and Jerome Powell’s destiny with the Fed.



02:00 UTC

The New Zealand Interest Rate. The data may keep affecting NZD during the day.

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

13:30 UTC

US Initial Jobless Claims. Forecast: 260K. If the results are higher than predicted, USD might go down.

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

19:00 UTC

FOMC Meeting Minutes. An upbeat economic outlook may support USD.

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



US stocks have recently dropped on the possibility that Joe Biden nominates Jerome Powell for another term as the Fed Chair. Affects S&P 500

In addition to Salvadorans ability to pay for anything in El Salvador in Bitcoin, a city powered by a volcano with Bitcoin as its title theme may soon be built in the country. Affects Bitcoin

Amazon’s planned $8.5B acquisition of MGM was requested to be blocked for streaming competition reasons. Affects Amazon

Alibaba was fined by the Chinese regulator for violations dating back to the beginning of the 2010’s. Affects Alibaba


Technical Analysis

S&P 500

Investors are worried about who will lead the US Fed further. The recent slide of the S&P 500 doesn’t have to be interpreted as their disappointment about Jerome Powell’s planned re-nomination by Joe Biden. General emotional preoccupation may be the core factor here, and it may keep pressing on stocks for a while.

We believe the index may drift downwards possibly to 4,600 because it comes back up to retest the resistance level of 4,720.


Bitcoin doesn’t seem to be happy about the Bitcoin city planned in El Salvador. It seems likely to slide down to $50,000 in the near future.


This stock will almost certainly cross the support level of $140 it left in October. The odds are now against the company. We believe this stock may keep dropping.

Related posts

News, Trends, & Analytics 21.02.2020

After a massive decline in the price of black gold at the beginning of the year due to coronavirus, a new fundamental background is gradually being created.

News, Trends, & Analytics 22.12.2020

Bad news from the UK: a lockdown was announced in London amid the discovery of a new strain of coronavirus, and trade negotiations with the EU remain without progress

News, Trends, & Analytics 16.07.2021

The US Federal Reserve Chair Jerome Powell clarified that more economic progress in the US is required to consider relaxing current monetary support.