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Price action 101: acceptance & rejection
Support & resistance levels are one of the very first things any trader sees when they come into the industry. Everyone understands the basics of price action.
American Airlines: time to fly away?
Markets have realised that this Winter will once again be marred by government travel restrictions and many of the travel stocks have been sold accordingly. Let’s take a look at American Airlines, one of the largest airlines in the world.
We touched on President Erdogan’s unconventional monetary policy a couple of weeks ago, and it’s DEFINITELY time to revisit! Take a look at this weekly USDTRY chart. You can see that something has happened, but it’s hard to put that chart into proper context. As recently as September, one US dollar was worth nine Turkish Lira. In the space of six weeks that essentially doubled. You would need as much as 18 Turkish Lira to buy one dollar.
Pfizer: pandemic to endemic
Pfizer spent a lot of this past year in the Covid headlines. Their collaboration with BioNTech has produced over 2 billion vaccine doses so far and they expect to produce a further 4 billion doses in 2022 The Covid-19 vaccine generated $13 billion of sales in the third quarter alone. That brings the total so far to $24.3 billion & Pfizer expects that total to reach $36 billion by the end of 2021. And we can see what this has done for the share price:
Week ahead: market insights for the 20th of December
What an eventful week that was! Central banks are starting to turn away from transitory & towards tightening. Let’s recap this week’s meetings with the key points: - US Federal Reserve: Doubling Taper Speed, expect to hike rates three times next year - Bank Of England: Surprise 15bps hike to 0.25% - Norges Bank: Hiked to 0.5% as expected, signals another 25bps hike likely in March - ECB: Ending PEPP in March, will increase APP to transition from one QE to another - Bank of Japan: Pandemic purchase of corporate bonds ends in March, Corporate funding September - Swiss National Bank: On hold. Franc remains highly valued.