Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Join the Facebook community of FBS!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE

View
Nike dropped on Xinjiang cotton statements

Nike dropped on Xinjiang cotton statements

Information is not investment advice

What happened?

Such big brands as H&M and Nike are facing a boycott in China after they have expressed concerns about cotton produced in Xinjiang. It’s said that the human rights of Uyghurs and other Muslim minorities were violated in the region in the so-called "re-education" camps. Thus, large brands went up against the use of forced labor for cotton production in Xinjiang. Actually, this story has started almost a year ago, but only this week it provoked hype.

What is China’s response?

China’s state broadcaster CCTV blamed H&M, Nike, and other brands by saying: "earning big profits in China but attacking the country with lies at the same time". While US-based companies are stopping getting cotton from Xinjiang, Chinese companies in contrast have begun advertising their use of cotton made in Xinjiang. 

Market reaction

Nike dropped to lows unseen since November of the last year. The price has approached the 200-day moving average of $124.00. If it manages to break below this level, the way down to October’s low of 2020 at $120.00 will be open. As we all know, after the big fall inevitably goes the rise. Thus, investors will closely watch for further price movement as the reverse up may come soon. If Nike jumps above the psychological mark of $130.00, the way up to the next round number of $135.00 will be open. 

NIKEDaily.png

Check out our app FBS Trader, where the stock trading is even easier!

IMG_20210326_140104.527.jpg

Don't know how to trade stocks? Here are some simple steps.

  1. First of all, be sure you’ve downloaded FBS Trader app or Metatrader 5. FBS allows you to trade stocks only through this software.
  2. Open an account in FBS Trader (the MT5 account in your personal area).

                                                                                                  LOG IN

 

Similar

Is Apple a Buy Now?

Apple TV+ will no longer offer one year of free subscription to anyone who bought an Apple product. It will be a test for Apple!

Popular

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later