In the first quarter of 2021, Activision and Blizzard earned $2.28 billion, up 27% from a year ago. The company's total revenue increased by 36% to $2.07 billion, and profit reached $619 million.
Positive market sentiment contributed to the growth of the asset. The asset grew from $90 to $95. Now there should be a consolidation above $95, a breakdown of the $100 level and a price increase to $110.
Fed kept the rate and the monthly volume of asset repurchases
The decision taken at the end of the next meeting of the Federal Reserve coincided with the expectations of the markets. The central bank kept the rate in the current range, and also did not make changes to the parameters of the asset purchase program. In a statement, the US Federal Reserve noted that the epidemiological situation in the country is improving thanks to the mass vaccination of Americans. In this regard, economic activity is gradually recovering. Employment indicators are strengthening. Problems still persist in those sectors of the American economy that have been most affected by the effects of the coronavirus pandemic. The growth of inflation does not cause the Fed concern, because it is temporary. The Fed believes that despite the improvement in the economy, risks still remain. The central bank intends to support the economy for as long as it is necessary. The Fed has additional tools. They can be used if the need arises. All 11 members of the Open Market Operations Committee supported the decision taken at the end of the meeting.
The Canadian Bureau of Statistics reported the largest increase in inflation in Canada in 10 years, driven by higher prices for residential real estate and passenger cars. According to the published statistics, consumer prices in May of this year increased by 3.6% compared to the same month of the previous year. Compared to the 3.4% annual inflation recorded in April, the annual price increase has strengthened. The economists ' forecast suggested an increase in inflation to 3.5%. Inflation in the country has increased, despite the fact that last month a new sharp jump in people infected with the coronavirus forced the Canadian authorities to re-impose restrictions. In June, most regions began to gradually remove these restrictions. The consumer price index for ordinary shares, which is closely monitored by the Bank of Canada, was 1.8% in May, while economists had forecast it at 1.9%. The Bank of Canada has set a target range of 1-3% for inflation. The regulator's immediate goal is to achieve 2% inflation. The Central Bank expects a reduction in inflation from the level of 3% no earlier than in the fall.
Forex trading. Cryptocurrency forecast for today, June 17, 2021
Bitcoin dropped to the support of $38,700. Ethereum reached the level of $2,400, and the price of XRP fell to 84 cents. The total capitalization of the cryptocurrency market was $1.6 trillion.According to the analytical company Santiment, in recent weeks, whales have increased their stocks by 90,000 Bitcoins. Now, 48.7% of the mined Bitcoins are stored in addresses that store between 100 and 10,000 tokens. At the moment, these addresses hold 9.11 million Bitcoins worth $366 billion. Judging by these statistics, large investors continue to believe in bitcoin and buy the first cryptocurrency on the decline of the exchange rate. However, many of the whales are exchanges and other services that store clients' crypto assets. As for the owners of Ethereum, there is a decrease in the share of large holders. It is also interesting that miners have reduced bitcoin sales to the lowest level in the last five months. The weekly index of bitcoin sales by miners fell to 0.88 - this is the lowest figure in 8 months. Analysts expect the cryptocurrency to continue to grow, but at the moment, bitcoin remains below $40,000, without showing the ability to continue to grow.In mid-May, shares of mining companies fell to the lowest levels in recent months, but since then, such securities have shown a significant recovery. One of the factors of the growth of mining companies was the possible ban on the production of cryptocurrencies in China. Chinese miners move their capacities abroad and place them on existing sites, which benefits large mining companies. The outflow of capacity from China led to a significant decrease in the hashrate of mining pools serving customers from the country. At the same time, pools working with North American miners showed a stable hashrate. Forex trading. Cryptocurrency forecast for today, June 17, 2021 The forecast assumes a further decline in Bitcoin to the levels of 38500, 38300 and 38000 Dollars. Ethereum will decline to the levels of 2300, 2200 and 2000 Dollars, and XRP - to the price values of 82, 80 and 77 cents.
Forex trading. WTI Oil forecast for today, June 17, 2021
WTI crude oil declined in price to the support of 71.3 dollars per barrel.Commercial oil reserves in the United States over the past week decreased by 7.36 million barrels, according to the US Department of Energy. At the same time, analysts polled by Bloomberg expected a reduction in inventories by 2.5 million barrels. Some influence on the course of trading was exerted by the economic statistics of China, which by some indicators turned out to be worse than expected. The growth rate of industrial production in China in May was 8.8% in annual terms, against the forecast of growth to 9%.Despite the intraday pullback in prices, the oil market remains optimistic about consumption growth as the vaccination process accelerates and the global economy recovers. This is the basic driver, thanks to which oil has become more expensive for the third month in a row. Despite the overbought and profit-taking risks, the markets overcome one barrier after another, updating the long-term tops. The US Federal Reserve has tightened its rhetoric regarding the curtailment of stimulus, and this caused an initial adjustment in oil. The nearest support will be the level of $70, in the event of a breakdown of which prices will fall even lower. Forex trading. WTI Oil forecast for today, June 17, 2021 The forecast assumes a further decline in the price of WTI oil to the support levels of 71, 70.8 and 70.5 Dollars per barrel.
Forex trading. Gold exchange rate forecast for today, June 17, 2021
On Wednesday, Gold fell in price to the support level of $1,810 per ounce. At the end of its scheduled meeting, the FOMC left the rate and the size of the quantitative easing program unchanged, but the median estimate of the regulator now shows two increases in 2023.Analysts of the Singapore bank OCBC believe that the price of gold at around $1,900 per ounce will be the maximum value this year, and in the future the price may then decline to the level of $1,800. By the end of 2022, the precious metal may fall even to the level of 1500. The downward shift in both nominal government bond yields as a result of the weak US labor market and break-even yields due to falling inflation expectations means that real yields should now remain within this range. This indicator for key US government bonds will reach -1% in the near future and may slowly grow to -0.6% by the end of 2021. This suggests that gold, which is usually in the opposite correlation to real bond yields, could hit a year-high of $1,900. By the end of 2021, gold will be around the $ 1,800 support as global vaccination measures gain momentum. At the same time, the US Federal Reserve is becoming less conservative in its monetary policy, which leads to an increase in real interest rates and, in turn, pushes gold prices down. Forex trading. Gold exchange rate forecast for today, June 17, 2021 The forecast assumes a further drop in the price of Gold to the levels of 1805, 1800 and 1790 Dollars per ounce.
Forex trading. Pound-Dollar GBP/USD forecast for today, June 17, 2021
The British currency fell sharply in price against the US dollar and reached the support of 1.4000.Data showed that UK inflation unexpectedly exceeded the Bank of England's 2% target in May. This has raised some concerns that policymakers may start to signal a change in policy thinking if prices continue their upward streak. Inflation has hit 2.1%, and looks set to rise further as the country reopens its economy after a lockdown against the coronavirus.While the rise in inflation is largely driven by local factors, the Bank of England will be watching closely to see if a stronger currency will help ease price pressures. The British pound is one of the strongest currencies against the dollar this year with a net gain of 3.3%. The yield on two-year UK government bonds rose almost one basis point to a one-month high of 0.11%. British economic data supported the pound, but the key factor was the reaction of the markets to the Fed's comments. As a result, the pound/dollar pair fell to the lowest value since the beginning of May. It is unlikely that the British currency will be able to return to the recent highs around the level of 1.4200 in the near future. Forex trading. Pound-Dollar GBP/USD forecast for today, June 17, 2021 In our forecast, we assume a further decline in the Pound-Dollar exchange rate to the price values of 1.3980, 1.3960 and 1.3930.
Forex trading. Euro-Dollar EUR/USD forecast for today, 17 June 2021
On Wednesday, the Euro-Dollar exchange rate fell to the support of 1.1810.The US currency rose sharply in price, the market did not like the prospects of tightening monetary policy even in the long term. The updated median forecast of the members of the Open Market Committee now assumes two rate hikes by the end of 2023. 13 of the 18 FOMC members favored at least one rate hike by the end of 2023. In March, there were only seven of them. 11 of the 18 committee members forecast at least two rate hikes by the end of 2023.The regulator also raised the forecast of US GDP growth for 2021 to 7% and left the same forecast for 2022 at 3.3%. The accompanying statement says that the progress of vaccination has reduced the spread of the coronavirus in the United States. Thanks to this progress and strong monetary support, indicators of economic activity and the labor market have improved. The Fed also kept the target range of the federal funds rate at 0-0.25% and left the volume of the asset purchase program unchanged at $120 billion per month. The status quo will continue until further significant progress is made in the labor market and in the area of inflation, the regulator said. Forex trading. Euro-Dollar EUR/USD forecast for today, 17 June 2021 In our forecast, we expect a corrective growth of the Euro-Dollar exchange rate to the levels of 1.1830, 1.1850 and 1.1875.
The Swiss government has updated its forecast for the dynamics of GDP in the current year. It has been improved. The Swiss government now expects the economy to grow by 3.6% in 2021. Previously, an increase in annual GDP of 3% was forecast. Next year, economic growth may reach 3.3%. The change in the forecast for the better became possible due to the accelerated pace of economic recovery in the country. In addition, the Swiss government noted that the global economy is also recovering at a faster pace than expected. The main macroeconomic indicators in Switzerland indicate an increase in economic activity in both the industrial and service sectors of the country. The KOF indicator, which measures the state of the Swiss economy for six months, peaked in May. Next week, the Swiss government will discuss the issue of further lifting the restrictive measures in the country.