Morgan Stanley, a huge investment bank, has warned investors about a “risk” not having Tesla stock.
Is it time to sell EUR/USD?
2021-04-05 • Updated
The last week has ended with greater-than-expected NFP, but weaker average hourly earnings. 916,000 people were employed during March, while the forecast was only 647,000. Average hourly earnings dropped by 0.1%, whereas growth of 0.1% was anticipated. As a result, since NFP comes better, but earnings – worse, the USD will spike at first, but it will fall with the second wave.
Europe’s poor vaccination rollout and prolonged lockdowns keep pressing down the EUR. Unlike the EU, the USA is in a much better position. Biden claimed a goal of 200 million vaccinations in his first 100 days and unveiled the 2$ trillion infrastructure plan. As a result, Treasury yields surged. And as we know, rising yields would push the US dollar up.
According to ING, EUR/USD is likely to dip further this week. So far, support at 1.1700 has been held, but the pair may break down to the low of 1.16 this week.
EUR/USD is moving in a descending channel. On the weekly chart, the way down is constrained by the 50-week moving average of 1.1735. If it manages to break it and then crosses 1.1700, it should fall to November’s low at 1.1630. On the flip side, if it crosses the high of April 2 at 1.1790, it may jump to the 200-day moving average of 1.1870.
S&P 500 is trading just below the key milestone of 4000. It’s likely to hit this level by the end of this week. What is the reason for this growth and what is the forecast? Let’s find out!
Gold is heading for its first quarterly decline since 2018! The main reason for that is the strong US dollar.
PepsiCo will publish its financial results for the first quarter of this year on April 15 at 13:00 MT. Be prepared!
Coca-Cola reports its quarterly earnings for the first quarter of 2021 on April 19, 12:30 MT time. What will be the possible impact on the stock price?
Stocks of tech and auto sectors are in the focus of traders these days due to the global chip shortage. Let’s find out what is going on with chips and why it’s important for traders.