Inflation figures in the Eurozone reach 2.2%
As we discussed in yesterday's analysis, Jerome Powell did not give too many clues regarding the possible start of tapering by the US Federal Reserve, but he did indicate that he does not believe that the Delta variant of the coronavirus will significantly affect the economic recovery so as announced by "The Wall Street Journal", the end of the asset program could begin in the coming months, although to get more clues we will have to be attentive to the publication of the minutes of the last monetary policy meeting of the FOMC that are published this afternoon, although it is possible that until the Jackson Hole symposium or the meeting next September we will not find any clear guidelines.
During today's session, we also learned about the important inflation figure for the Eurozone, where we were able to observe that the annual CPI has been set at 2.2% from 1.9% in the previous month in line with market expectations. As in the United States, inflation growth in Europe is focused on the markets, and this could lead to the gradual end of ECB stimulus in the coming months.
On the other hand, rumours and expectations are growing before the presentation of the iPhone 13 next September where Apple could announce up to four versions of this new device. Both in the results presented last April and in those presented last July, Apple showed muscle and strength obtaining results that exceeded market expectations.
In recent weeks, we have seen that Apple has experienced a strong upturn after overcoming to the upside in mid-June the medium-term downtrend line that began at the previous all-time highs. This movement caused the price to break upwards to its previous all-time highs, consolidating itself in a small side channel represented by the red and green stripes.
The breakout of this channel may cause a new upward momentum that could take the price to an area close to $160 per share.
Source: Admiral Markets MetaTrader 5. Apple's daily chart. from April 3, 2020 to August 18, 2021. Prepared on August 18, 2021 at 11:50 am CEST. Please note that past returns do not guarantee future returns.
Evolution of the last 5 years:
- 2020: 80.75%
- 2019: 86.13%
- 2018: -6.78%
- 2017: 46.15%
- 2016: 9.99%
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