Analytics

News, Trends, & Analytics 28.12.2021

US Consumer Confidence Data is Expected

Today the focus is on the US СВ Сonsumer Confidence Index.

 

Calendar

15:00 UTC

US CB Consumer Confidence for December will be out. USD may get a boost if the release presents an upbeat figure.

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

 

News

High commodity prices were reported to have slowed the profits of the Chinese industrial sector. Affects the Asia Composite Index

Exports of Saudi Arabian oil surged in October on higher oil prices. Affects Brent

 

Technical Analysis

Asia Composite Index

In one of the previous releases, we have suggested that the diminishing magnitude of the marked uptrend may lead to a reversal and make this index drop under 6,100. This is what’s happening now. The question is how deep it will fall.

The nearest support level is 6,050. At this moment, we believe the index will go down to it.

Alibaba

With all the fluctuations, this stock is going down. It may approach the key support level of $100 soon.

Brent

Oil is currently at $76, a point where the two marked trends collide. Crossing either of them will define where it goes further.

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