Daily Market Analysis by CapitalStreetFX

[CSFX.Support]

Technical Analysis Report on 8 December 2020
Asia Pacific stocks were mixed Tuesday morning after key U.S. benchmarks broke a four-day winning streak during the Monday session overnight. The Shanghai composite is down 0.07% at 3,414.50. Overall, the Singapore MSCI down 0.23% at 320.15. Over in Hong Kong, the Hang Seng Index down by 0.25% to 26,364. In Japan, the Nikkei 225 down 0.23% at 26,510, while the Topix index was down 0.28% to 1759.5. South Korea’s Kospi down 1.54% to 2700.92. Australia S&P/ASX 200 up 0.19% to 6687.

European equities Monday closing. The DAX futures contract in Germany traded 0.21% down at 13271.00, CAC 40 futures in down 0.64% at 5573.4 and the UK 100 futures contract in the U.K. up 0.08% at 6,555.4.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.49% to 30069.8 the S&P 500 up 0.01% to 3683.4 and the Nasdaq 100 flat at 12573.6, NYSE closes at 14354.96 down 0.43%.

In the Forex market, GBPUSD down 0.12% at 1.33589. The USDJPY flat at 104.047. The USDCHF up 0.13% at 0.89105. EURUSD up 0.11% at 1.21190, EUR/GBP up 0.31% at 0.90725. The USD/CNY up 0.13% at 6.5383, at the time of writing.

In the commodity market U.S. Gold futures up 0.38% at $1,869. Elsewhere, Silver futures up 0.83% to $24.654 per ounce, Platinum down 0.03% at $1022.75 per ounce, and Palladium down 0.11% to $2,335.00.

Crude Oil down on Tuesday, Brent crude oil down 0.39% to $48.42 a barrel while U.S. West Texas Intermediate (CLc1) is down 0.81% at $46.43.

In the Cryptocurrency Markets, BTCUSD at 19190.85 down 0.06%, Ethereum at 591.87 up 0.04%, Litecoin at 83.00 down 0.60%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

American Airlines up 4.93% at $17.21, Netflix Inc up 3.506% at $515.78, Nasdaq Inc up 2.602% to $128.56, DocuSign Inc down 4.399% to $232.52, JD.com Inc down 1.993% to $83.49, Intel Corp. down 3.434% at $50.2.

Economic news:
Technical Analysis Report on 8 December 2020
US: The U.S. is preparing to sanction at least a dozen more Chinese officials over their role in the recent disqualification of Hong Kong legislators, Reuters reported.

The latest round of sanctions over Hong Kong could come as early as Monday, Reuters said, citing three people including an American official familiar with the matter. The U.S. move comes as President Donald Trump continues to pile pressure on China’s ruling Communist Party in his final weeks in office.

Eurozone: Hungary and Poland are upholding their veto of the next European Union budget and a coronavirus recovery fund, Hungarian Foreign Minister Peter Szijjarto said after meeting his Polish counterpart in Brussels on Monday.

“We have affirmed that we stand by each other,” Szijjarto said in a Facebook (NASDAQ:FB) video. “We will not give room to any effort aiming to break up this co-operation.”

Important Data: US API Weekly Crude Oil Stock today at 16:30 previously which was 4.146M. CHINA CPI (MoM) (Nov) today at 20:30 previously which was -0.3%. AUSTRALIA Building Approvals (MoM) today at 19:30 previously which was 3.8%. French Trade Balance (Oct) today at 4:30 this time estimate to be -6.3B previously which was 5.8B.
Technical Analysis

 

[CSFX.Support]

Technical Analysis Report on 10 December 2020
Asian equities eased from a record high on Thursday as stalled U.S. stimulus talks and a sell-off in tech stocks weighed. The Shanghai composite is down 0.12% at 3,368.24. Overall, the Singapore MSCI down 0.77% at 320.80. Over in Hong Kong, the Hang Seng Index down by 0.58% to 26,389. In Japan, the Nikkei 225 down 0.20% at 26,810, while the Topix index was down 0.59% to 1774.0. South Korea’s Kospi down 0.10% to 2753.17. Australia S&P/ASX 200 down 0.67% to 6683.

European equities Wednesday closing. The DAX futures contract in Germany traded 0.47% up at 13340.26, CAC 40 futures in down 0.25% at 5545.9 and the UK 100 futures contract in the U.K. up 0.08% at 6,558.8.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.35% to 30068.8 the S&P 500 down 0.79% to 3672.8 and the Nasdaq 100 down 0.27% at 12320.7, NYSE closes at 14374.08 down 0.20%.

In the Forex market, GBPUSD down 0.30% at 1.33553. The USDJPY up 0.23% at 104.429. The USDCHF down 0.04% at 0.88907. EURUSD up 0.12% at 1.20923, EUR/GBP up 0.49% at 0.90536. The USD/CNY up 0.03% at 6.5427, at the time of writing.

In the commodity market U.S. Gold futures down 0.01% at $1,838. Elsewhere, Silver futures down 0.19% to $23.918 per ounce, Platinum up 0.35% at $1002.0 per ounce, and Palladium up 0.59% to $2,284.50.

Crude Oil down on Thursday, Brent crude oil down 0.24% to $48.90 a barrel while U.S. West Texas Intermediate (CLc1) is down 0.04% at $46.39.

In the Cryptocurrency Markets, BTCUSD at 18391.04 down 0.88%, Ethereum at 563.74 down 1.69%, Litecoin at 75.95 down 1.92%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

MASCO Corp. up 3.683% at $54.05, A.O. Smith Corp. up 2.817% at $57.67, CARNIVAL Corp. down 3.734% to $22.69, Moderna Inc. down 7.812% to $156.59, NETFLIX Inc down 3.718% to $493.6, WORKDAY Inc. down 2.809% at $219.48.

Economic news:

US: International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday that she expects an IMF program that freezes payments on IMF debt from the poorest countries to be extended through the end of 2021.

Georgieva made the comments during an IMF forum on the COVID-19 crisis in developing countries, where she also said that the best value spending that countries could make in the crisis are investments to accelerate the distribution of coronavirus vaccines.

Eurozone: Britain signed a free trade deal with Singapore on Thursday, the latest in a series of agreements Britain is trying to broker around the globe as it prepares to end its transition out of the European Union on Dec. 31.

Britain’s secretary of state of international trade Liz Truss and Singapore’s trade minister Chan Chun Sing signed the deal at a ceremony in the Southeast Asia city-state.

The Singapore deal comes as British Prime Minister Boris Johnson and the European Union’s chief executive gave themselves until the end of the weekend to seal a new trade pact after failing to overcome persistent rifts.

Important Data: UK Manufacturing Production (MoM) (Oct) today at 2:00 this time estimate to be 0.3%, previously which was 0.5%. US Core CPI (MoM) (Nov) today at 8:30 this time estimate to be 0.1%, previously which was 0.2%. UK Trade Balance (Oct) today at 2:00 this time estimate to be -9.6B, previously which was.

-9.35B. French Industrial Production (MoM) (Oct) today at 2:45 this time estimate to be 0.4%, previously which was 1.4%.
TECHNICAL ANALYSIS

 

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The report presents a summary of all upcoming and recent fundamental events as well as technical analysis for the major markets.

DAILY REPORT - 22nd December 2020
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Asia Pacific stocks were down on Tuesday morning, with a new COVID-19 strain threatening to trigger a fresh wave of lockdowns and travel restrictions dampening sentiment. The Shanghai Composite is down 1.91% at 3,355.113. Overall, the Singapore MSCI down 0.40% at 319.90. Over in Hong Kong, the Hang Seng Index down 1.21% to 26,025. In Japan, the Nikkei 225 down 1.16% at 26,340, while the Topix index was down 1.37% to 1759.5. South Korea’s Kospi down 1.62% to 2733.68. Australia S&P/ASX 200 down 1.05% to 6599.6.

European equities Monday closing. The DAX futures contract in Germany traded 2.82% down at 13246.20, CAC 40 futures down 2.43% at 5393.3 and the UK 100 futures contract in the U.K. down 1.73% at 6,416.3.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.12% at 30216.5 the S&P 500 down 0.39% to 3694.9 and the Nasdaq 100 down 0.28% at 12667.3, NYSE closes at 14378.849 down 0.61%.

In the Forex market, GBPUSD down 0.43% at 1.33998. The USDJPY up 0.15% at 103.449. The USDCHF up 0.22% at 0.88744. EURUSD down 0.19% at 1.22175, EUR/GBP up 0.33% at 0.91190. The USD/CNY up 0.06% at 6.5503, at the time of writing.

In the commodity market U.S. Gold futures down 0.38% at $1,869.61. Elsewhere, Silver futures down 1.51% to $25.741per ounce, Platinum down 1.92% at $992.10 per ounce, and Palladium down 0.09% to $2,314.50.

Crude Oil down on Tuesday; Brent Crude oil down 2.16% to $49.72 barrel while U.S. West Texas Intermediate (CLc1) is down 0.61% at $47.63.
In the Cryptocurrency Markets, BTCUSD at 23816.24 up 0.28%, Ethereum at 603.52 down 0.70%, Litecoin at 101.97 down 2.34%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

GOLDMAN SACHS up 6.133% at $256.98, MORGAN STANLEY up 5.687% at $67.83, NIKE Inc. up 4.91% to $144.02, CITI GROUP Inc. up 3.674% to $61.23, TESLA Inc. down 6.495% to $649.86,TECHNIC FMC PLC down 3.481% at $9.15.
Economic news:

US: A majority of the Democratic-controlled U.S. House of Representatives on Monday voted to pass a $900 billion coronavirus aid bill, which is attached to federal agency spending needed to avert a government shutdown at midnight when existing money expires.
With the bill headed toward House passage, it would next be considered by the Senate, which is standing by in what is expected to be an overwhelming vote of approval.

Eurozone: The European Union has opened two investigations into Chinese exporters to assess whether steel screws are being sold in the bloc at excessively low prices and whether optical fiber cables are benefiting from unfair subsidies.

The EU increasingly sees China as a systemic rival and has 23 investigations underway into various products exported from the country, which makes up about half of the EU’s total number of investigations into trade dumping or subsidies.

One of the new investigations is into alleged dumping of iron and steel screws, bolts and washers after a complaint from the European Industrial Fasteners Institute, the EU official journal said on Monday.

The Institute alleges that Chinese exporters have increased shipments, increased market share and harmed EU producers through their low prices.
Important Data: UK GDP (QoQ) (Q3) today at 2:00 this time estimate to be 15.5%, previously which was -19.8%. US GDP (QoQ) (Q3) today at 8:30 this time estimate to be 33.1%, previously which was -31.4%. AUSTRALIA Private Sector Credit (MoM) (Nov) today at 19:30, previously which was 0.0%. GERMAN GfK German Consumer Climate (Jan) today at 2:00 previously which was -6.7.

TECHNICAL SUMMARY
EURUSD

TRADE SUGGESTION- BUY AT 1.22181, TAKE PROFIT AT 1.22480 AND STOP AT 1.21777
GBPJPY

TRADE SUGGESTION- SELL AT 138.630, TAKE PROFIT AT 138.336 AND STOP LOSS AT 138.864
NZDUSD

TRADE SUGGESTION- SELL AT 0.70521, TAKE PROFIT AT 0.70291 AND STOP LOSS AT 0.70720
EURAUD

TRADE SUGGESTION- BUY AT 1.6187, TAKE PROFIT AT 1.6213 AND STOP AT 1.6138
FTSE 100

TRADE SUGGESTION- SELL AT 6347.4 TAKE PROFIT AT 6317.6 AND STOP AT 6373.8
BRENT CRUDE OIL

TRADE SUGGESTION- SELL AT 50.12 TAKE PROFIT AT 49.60 AND STOP AT 50.92
CRUDE OIL

TRADE SUGGESTION- SELL AT 47.00, TAKE PROFIT AT 46.60 AND STOP AT 47.68
ETHEREUM

TRADE SUGGESTION- SELL AT 593.94 TAKE PROFIT AT 574.16 AND STOP AT 604

 

[CSFX.Support]

The report presents a summary of all upcoming and recent fundamental events as well as technical analysis for the major markets.
Daily Market Report as on 22nd January 2021​

Asia Pacific stocks were mostly down on Friday morning. The Shanghai Composite is down 0.59% at 3,598.70. Overall, the Singapore MSCI down 0.87% at 340.75. Over in Hong Kong, the Hang Seng Index down 1.33% to 29,516. In Japan, the Nikkei 225 down 0.28% at 28,650, while the Topix index is down 0.05% at 1855.5. South Korea’s Kospi up 0.50% to 3143.93. Australia S&P/ASX 200 down 0.34% at 6800.4.

European equities Thursday closing. The DAX futures contract in Germany traded 0.11% down at 13906.67, CAC 40 futures down 0.67% at 5590.8 and the UK 100 futures contract in the U.K. down 0.37% at 6,715.4.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 31176.0 the S&P 500 up 0.03% to 3853.1 and the Nasdaq 100 down 0.38% at 13360.0, NYSE closes at
15019.04 down 0.52%.

In the Forex market, GBPUSD down 0.25% at 1.36943. The USDJPY up 0.16% at 103.643. The USDCHF up 0.04% at 0.88541. EURUSD up 0.03% at 1.21648, EUR/GBP up 0.28% at 0.88825. The USD/CNY up 0.20% at 6.4726, at the time of writing.

In the commodity market U.S. Gold futures down 0.57% at $1,858.63. Elsewhere, Silver futures down 1.63% to $25.441 per ounce, Platinum down 1.58% at $1106.68 per ounce, and Palladium down 0.19% to $2,365.00.

Crude Oil down on Friday; Brent Crude Oil down 0.98% to $55.45 barrel while U.S. West Texas Intermediate (CLc1) is down 0.10% at $52.36.
In the Cryptocurrency Markets, BTCUSD at 31975.17 up 3.64%, Ethereum at 1177.14 up 5.94%, Litecoin at 137.07 up 5.37%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:
INTEL Corp. up 6.46% at $62.46, FORD Motor Co. up 6.169% at $11.53, NVIDIA Corp. up 3.754% to $554.7, APPLE Inc. up 3.666% to $136.87, WESTERN DIGITAL up 3.261% to $53.51, UNITED AIRLINES down 5.733% at $42.59.

Economic news:
US: President Joe Biden’s top economic adviser, Brian Deese, plans to meet with a bipartisan group of lawmakers in coming days in an appeal for the administration’s $1.9 trillion Covid-19 relief plan, according to aides familiar with the matter.

Deese, head of the White House National Economic Council, expects to speak with the group in the next week or so, the people said, asking not to be named as the plans aren’t public. Timing of the meeting hasn’t yet been finalized.

Biden’s plan has already run into headwinds. GOP's lawmakers on Tuesday dismissed the argument by Janet Yellen, who’s awaiting Senate confirmation as Treasury secretary, that historically low interest rates mean major deficit spending isn’t a problem right now.

Even moderate GOP senators expressed scepticism about the need for another giant package so soon after the $900 billion spending bill enacted last month. Mitt Romney of Utah and Lisa Murkowski of Alaska, who were key members of a bipartisan group that helped get that last package passed, on Wednesday declined to embrace the new administration’s push

Eurozone: The U.K.’s third coronavirus lockdown looks set to endure as the government warned it’s too early to contemplate easing restrictions.
Prime Minister Boris Johnson and Home Secretary Priti Patel did not repeat previous assurances that the U.K. will be getting back to normal by April, even as the mass vaccination program continued to expand to reach 5 million people.

Instead, they toughened up measures to enforce the current restrictions, amid concerns that too many people are still flouting the rules, making it harder to control the spread of the disease.

New police fines of 800 pounds ($1,097) will be imposed on people caught attending house parties, Patel told a press conference in London. When asked if the public should book summer holidays, she said the advice now is to stay home.

“It’s far too early to say or even speculate when we can lift restrictions,” Patel said. “This country remains in the grip of a pandemic.”

Important Data: Retail Sales (MoM) (Dec) today at 2:00 this time estimated 1.2%, previously which was -3.8%. German Manufacturing PMI (Jan) today at 8:30 this time estimated 57.5, previously which was 58.3. US Crude Oil Inventories today at 11:00 this time estimated -1.167M, previously which was -3.247M. US Existing Home Sales (Dec) today at 10:00 previously which was 6.69M.

TECHNICAL SUMMARY

USDJPY

TRADE SUGGESTION- SELL AT 103.607, TAKE PROFIT AT 103.501 AND STOP AT 103.741
EURUSD

TRADE SUGGESTION- SELL AT 1.21636, TAKE PROFIT AT 1.21412 AND STOP LOSS AT 1.21865
USDMXN

TRADE SUGGESTION- SELL AT 19.81267, TAKE PROFIT AT 19.69150 AND STOP LOSS AT 19.89145
CADCHF

TRADE SUGGESTION- BUY AT 0.69805, TAKE PROFIT AT 0.69936 AND STOP AT 0.69708
FTSE 100

TRADE SUGGESTION- BUY AT 6732.6 TAKE PROFIT AT 6770.4 AND STOP AT 6700
CRUDE OIL

TRADE SUGGESTION- SELL AT 52.48 TAKE PROFIT AT 51.64 AND STOP AT 53.28
GOLD

TRADE SUGGESTION- SELL AT 1861.32, TAKE PROFIT AT 1855.14 AND STOP AT 1872.70
LITECOIN USD

TRADE SUGGESTION- SELL AT 135.52 TAKE PROFIT AT 132.38 AND STOP AT 138.82

 

[CSFX.Support]

Top 5 Market News of the day that Can't be missed
#24thJanuary2021 ​

 

[CSFX.Support]

The report presents a summary of all upcoming and recent fundamental events as well as technical analysis for the major markets.
Daily Market Report as on 8th February 2021​

Asia Pacific stocks were up on Monday morning. The Shanghai Composite is up 1.00% at 3,530.86. Overall, the Singapore MSCI up 1.16% at 332.25. Over in Hong Kong, the Hang Seng Index up 0.10% to 29,298. In Japan, the Nikkei 225 up 1.88% at 29,350, while the Topix index is up 1.48% at 1921.5. South Korea’s Kospi down 0.72% to 3096.11. Australia S&P/ASX 200 up 0.59% at 6880.7.

European equities Friday closing. The DAX futures contract in Germany traded 0.03% down at 14056.72, CAC 40 futures up 0.90% at 5659.3 and the UK 100 futures contract in the U.K. down 0.22% at 6,489.3.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.30% up at 31148.2 the S&P 500 up 0.39% to 3886.8 and the Nasdaq 100 up 0.32% at 13604.0, NYSE closes at 15069.60 up 0.63%.

In the Forex market, GBPUSD up 0.01% at 1.37295. The USDJPY up 0.18% at 105.506. The USDCHF up 0.09% at 0.89963. EURUSD down 0.09% at 1.20384, EUR/GBP up 0.07% at 0.87680. The USD/CNY down 0.15% at 6.4569, at the time of writing.

In the commodity market U.S. Gold futures up 0.12% at $1,814.87. Elsewhere, Silver futures up 0.53% to $27.039 per ounce, Platinum up 1.78% at $1142.43 per ounce, and Palladium down 0.09% to $2,347.5.

Crude Oil up on Monday; Brent Crude oil up 0.52% to $59.88 barrel while U.S. West Texas Intermediate (CLc1) is up 0.78% at $56.64.

In the Cryptocurrency Markets, BTCUSD at 39171.34 up 0.84%, Ethereum at 1632.05 up 1.03%, Litecoin at 151.82 up 0.42%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:
ETSY Inc. up 4.655% at $231.12, STARBUCKS Corp. up 2.74% at $106.48, ZOOM VIDEO Corp. up 7.593% to $419.59, QUALCOMM Inc. down 1.44% to $145.84, NIKE Inc. up 3.186% to $145.11, COCA-COLA Inc. up 1.306% at $49.65.

Economic news:
US: U.S. Treasury Secretary Janet Yellen said on Sunday that American workers who earn $60,000 per year should receive stimulus checks as part of the White House’s proposed $1.9 trillion coronavirus relief package.

“The exact details of how it should be targeted are to be determined, but struggling middle class families need help,” Yellen said on CNN’s “State of the Union.”

The White House has said it is open to negotiation on who should be eligible to receive the proposed $1,400 checks, and has declined to specify where it thinks the income cut-off should be.

“President (Joe) Biden is certainly willing to work with members of Congress to define what’s fair and he wouldn’t want to see a household making over $300,000 receive these payments,” Yellen said, without offering further detail.

Eurozone: Exports from Britain to the European Union fell by 68% in January as trade was disrupted after the end of a transition period following Britain’s departure from the European Union, according to a trade body representing hauliers.

The government did not confirm the data and said disruption at the border had been minimal since Britain completed its journey out of the EU’s orbit at the of 2020 following an agreement on trading arrangements.

Since the start of the year, businesses and hauliers have had to adapt to new trading arrangements, including new systems for companies and officials in the British province of Northern Ireland.
Some businesses have struggled with new customs declarations and health certificates as the coronavirus pandemic also hits firms.

Important Data: German Industrial Production (MoM) (Dec) today at 2:30 this time estimated 0.3%, previously which was 0.9%. UK BRC Retail Sales Monitor (YoY) (Jan) today at 19:01 previously which was 4.8%. US CB Employment Trends Index (Jan) today at 10:00 previously which was 99.01. JAPAN M2 Money Stock (YoY) today at 18:50 previously which was at 9.0%.

TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- BUY AT 1.37245, TAKE PROFIT AT 1.37863 AND STOP LOSS AT 1.36540
USDJPY

TRADE SUGGESTION- BUY AT 1.37225, TAKE PROFIT AT 1.37448 AND STOP LOSS AT 1.37060
EURGBP

TRADE SUGGESTION- SELL AT 0.87648, TAKE PROFIT AT 0.87556 AND STOP LOSS AT 0.87765
AUDUSD

TRADE SUGGESTION- BUY AT 0.76742, TAKE PROFIT AT 0.77019 AND STOP LOSS AT 0.76587
DJ EURO STOXX 50

TRADE SUGGESTION- BUY AT 3671 TAKE PROFIT AT 3695 AND STOP LOSS AT 3643
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 57.36 TAKE PROFIT AT 58.08 AND STOP LOSS AT 56.80
GOLD

TRADE SUGGESTION- SELL AT 1814.56, TAKE PROFIT AT 1805.64 AND STOP AT 1823.20
BTCUSD

TRADE SUGGESTION- BUY AT 39002.47 TAKE PROFIT AT 39589.83 AND STOP AT 38657.97

 

[CSFX.Support]

The report presents a summary of all upcoming and recent fundamental events, and technical analysis for the major markets.
Daily Market Report as on 10th February 2021
Asian stocks hit a record high on Wednesday. The Shanghai composite is up 1.13% at 3,644.18. Overall, the Singapore MSCI up 0.09% at 334.10. Over in Hong Kong, the Hang Seng Index up 1.76% to 29,925. In Japan, the Nikkei 225 down 0.07% at 29,480, while the Topix index is down 0.08% at 1929.5. South Korea’s Kospi up 0.76% to 3108.54. Australia S&P/ASX 200 up 0.52% at 6856.9.
European equities Tuesday closing. The DAX futures contract in Germany traded 0.34% down at 14011.80, CAC 40 futures up 0.10% at 5691.5 and the UK 100 futures contract in the U.K. up 0.12% at 6,531.6.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.03% down at 31375.8 the S&P 500 down 0.11% to 3911.2 and the Nasdaq 100 down 0.06% at 13687.1, NYSE closes at 15244.40 up 0.12%.
In the Forex market, GBPUSD up 0.04% at 1.38215. The USDJPY flat at 104.54. The USDCHF down 0.07% at 0.89158. EURUSD up 0.07% at 1.21258, EUR/GBP up 0.05% at 0.87727. The USD/CNY up 0.08% at 6.4394, at the time of writing.
In the commodity market U.S. Gold futures up 0.23% at $1,842.40. Elsewhere, Silver futures up 0.13% to $27.28 per ounce, Platinum up 2.68% at $1207.01 per ounce, and Palladium up 0.11% to $2,328.0.
Crude Oil mix on Wednesday; Brent crude oil down 0.11% to $61.11 barrel while U.S. West Texas Intermediate (CLc1) is up 1.45% at $57.57.
In the Cryptocurrency Markets, BTCUSD at 46458.78 down 0.05%, Ethereum at 1820.31 up 2.67%, Litecoin at 191.11 up 5.25%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
TWITTER Inc. up 2.869% at $59.87, FORD MOTOR Co. up 3.201% at $11.93, GARTNER Inc. up 4.286% to $183.72, MOSIAC Co. down 3.816% to $27.98, NETFLIX Inc. up 2.035% to $559.07, JD. Com Inc. down 2.644% at $97.07.
Economic news:
US: The top lawmaker on trade matters in the U.S. House of Representatives said on Tuesday that he will focus this year on enforcing U.S. trade agreements and working with the Biden administration to combat China’s use of forced labor in its western Xinjiang region.
House Ways and Means Committee Chairman Richard Neal, speaking on a webcast forum organized by the Washington International Trade Association, said he also was open to negotiating new trade agreements with Britain and the European Union.
The Massachusetts Democrat also said he would work closely with U.S. Trade Representative nominee Katherine Tai, who previously served as the Ways and Means Committee’s Democratic trade counsel, “to make sure that we aggressively enforce all the provisions” in the new U.S.-Mexico-Canada Agreement.
Eurozone: Britain has suffered “one or two teething issues” in exporting fish to the European Union after Brexit, the country’s environment minister said on Tuesday, in comments that are likely to anger fishermen struggling to trade.
Small fishing firms have largely failed to export their goods to Europe after the post-Brexit introduction of catch and health certificates, customs declarations and higher transport costs made trade too expensive and too slow for EU buyers.
Important Data: US Core CPI (MoM) (Jan) today at 8:30 this time estimated 0.2%, previously which was 0.1%. US Crude Oil Inventories today at 10:30 this time estimated 0.985M, previously which was -0.994M. AUSTRALIA Westpac Consumer Sentiment (Feb) today at 18:30 previously which was -4.5%. BRAZIL Retail Sales (MoM) (Dec) today at 7:00 previously which was at -0.1%.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- BUY AT 1.38150, TAKE PROFIT AT 1.38500 AND STOP LOSS AT 1.37569
EURUSD

TRADE SUGGESTION- BUY AT 1.21203, TAKE PROFIT AT 1.21539 AND STOP LOSS AT 1.21012
EURGBP

TRADE SUGGESTION- SELL AT 0.87721, TAKE PROFIT AT 0.87505 AND STOP LOSS AT 0.88031
AUDUSD

TRADE SUGGESTION- BUY AT 0.77382, TAKE PROFIT AT 0.77608 AND STOP LOSS AT 0.77240
S&P 500

TRADE SUGGESTION- BUY AT 3915.04 TAKE PROFIT AT 3930.00 AND STOP LOSS AT 3900.00
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 58.13 TAKE PROFIT AT 58.47 AND STOP LOSS AT 58.07
GOLD

TRADE SUGGESTION- BUY AT 1841.95, TAKE PROFIT AT 1847.26 AND STOP AT 1837.42
LITECOIN USD

TRADE SUGGESTION- BUY AT 191.74 TAKE PROFIT AT 196.40 AND STOP AT 186.18

 

[CSFX.Support]

Daily Market Report as on 18th February 2021

Asia Pacific stocks were mixed on Thursday morning, with Chinese stocks headed towards record highs. The Shanghai composite is up 0.42% at 3,670.57. Overall, the Singapore MSCI down 0.61% at 332.50. Over in Hong Kong, the Hang Seng Index down 1.27% to 30,582. In Japan, the Nikkei 225 down 0.53% at 30,240, while the Topix index is down 1.52% at 1941.5. South Korea’s Kospi down 1.17% to 3097.03. Australia S&P/ASX 200 up 0.01% at 6885.9.

European equities Wednesday closing. The DAX futures contract in Germany traded 1.1% down at 13909.27, CAC 40 futures down 0.36% at 5765.8 and the UK 100 futures contract in the U.K. down 0.56% at 6,710.9.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.29% up at 31613.0 the S&P 500 down 0.03% to 3931.3 and the Nasdaq 100 down 0.54% at 13699.7, NYSE closes at 15402.58 down 0.13%.

In the Forex market, GBPUSD down 0.06% at 1.38487. The USDJPY up 0.03% at 105.90. The USDCHF flat at 0.89881. EURUSD up 0.10% at 1.20466, EUR/GBP up 0.23% at 0.86978. The USD/CNY down 0.06% at 6.4542, at the time of writing.

In the commodity market U.S Gold futures up 0.37% at $1,782.50. Elsewhere, Silver futures down 0.49% to $27.239 per ounce, Platinum up 1.18% at $1262.50 per ounce, and Palladium up 0.38% to $2,386.0.

Crude Oil up on Thursday; Brent crude oil up 0.34% to $65.12 barrel while U.S. West Texas Intermediate (CLc1) is up 0.65% at $58.63.

In the Cryptocurrency Markets, BTCUSD at 52037.04 down 0.29%, Ethereum at 1896.79 up 2.45%, Litecoin at 231.50 down 2.49%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

VERIZON COMMUNICATION up 5.245% at $56.99, KRAFT HEINZ Co. up 4.695% at $37.02, DISCOVERY Inc up 4.245% to $49.36, HP Inc. down 3.24% to $26.28, TWITTER Inc down 2.934% to $71.79, NVIDIA Corp. down 2.767% at $596.24.

Economic news:

US: Facing a still-scarred economy that may need an extended time to recover fully, Federal Reserve officials last month debated how to lay the groundwork for the public to accept higher inflation, and also the need to “stay vigilant” for signs of stress in buoyant asset markets, according to minutes of the U.S. central bank’s Jan. 26-27 policy meeting.

In discussions that ranged from the public’s perceptions of inflation to the vagaries of Robinhood-type retail stock trading platforms, Fed officials said they were still prepared to keep their easy monetary policy on track to help heal a job market still ailing from the impact of the coronavirus pandemic.

With a jump in some prices expected this spring, “many participants stressed the importance of distinguishing between such one-time changes in relative prices and changes in the underlying trend for inflation,” according to the minutes, which were released on Wednesday.

Eurozone: A quarter of British businesses expect to fire staff if finance minister Rishi Sunak does not extend a job furlough programme that is due to expire at the end of April, the British Chambers of Commerce said on Thursday.

Sunak is due to deliver his annual budget on March 3 and has promised to provide more support for jobs hit by the coronavirus pandemic. But he is also mindful that COVID-related spending has already pushed Britain’s budget deficit to its highest since World War Two.

Britain entered a third national lockdown last month, which forced schools and most businesses to close their doors to the public, although staff can continue to work on site if there is no good alternative.

The BCC said 61% of firms had suffered a fall in sales since October, based on a survey of 1,115 of its members carried out between Jan. 18 and Jan. 31.

Important Data: US Building Permits (Jan) today at 8:30 this time estimated 1.678M, previously which was 1.704M. US Initial Jobless Claims today at 8:30 this time estimated 765K, previously which was 793K. CANADA New Housing Price Index (MoM) (Jan) today at 8:30 previously which was 0.3%. RUSSIA Unemployment Rate (Jan) today at 11:00 this time estimated 6.0%, previously which was 5.9%.

TECHNICAL SUMMARY

 

[CSFX.Support]

Daily Market Report as of 19th February 2021
Asian stocks pulled back from all-time peaks on Friday. The Shanghai composite is up 0.30% at 3,686.31. Overall, the Singapore MSCI down 0.86% at 330.05. Over in Hong Kong, the Hang Seng Index down 0.03% to 30,431. In Japan, the Nikkei 225 down 0.89% at 29,960, while the Topix index is down 0.93% at 1926.0. South Korea’s Kospi up 0.57% to 3104.49. Australia S&P/ASX 200 down 1.34% at 6793.8.

European equities Thursday closing. The DAX futures contract in Germany traded 0.16% down at 13886.93, CAC 40 futures down 0.65% at 5728.3 and the UK 100 futures contract in the U.K. down 1.40% at 6,617.2.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.38% down at 31493.3 the S&P 500 down 0.44% to 3914.0 and the Nasdaq 100 down 0.16% at 13622.2, NYSE closes at 15290.63 down 0.73%.

In the Forex market, GBPUSD up 0.03% at 1.39743. The USDJPY down 0.12% at 105.54. The USDCHF up 0.04% at 0.89611. EURUSD up 0.06% at 1.20966, EUR/GBP up 0.09% at 0.86561. The USD/CNY down 0.17% at 6.4679, at the time of writing.

In the commodity market U.S Gold futures down 0.05% at $1,774.10. Elsewhere, Silver futures down 0.41% to $26.891 per ounce, Platinum down 0.80% at $1262.85 per ounce, and Palladium down 0.04% to $2,355.0.

Crude Oil down on Friday; Brent crude oil down 0.38% to $63.35 barrel while U.S. West Texas Intermediate (CLc1) is down 0.29% at $58.46.

In the Cryptocurrency Markets, BTCUSD at 51657.94 up 0.15%, Ethereum at 1915.84 down 1.20%, Litecoin at 226.98 up 0.08%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Kellogg Co up 2.585% at $59.53, KRAFT HEINZ Co. up 5.24% at $38.96, WALMART Inc down 6.481% to $137.66, APACHE Corp. down 5.672% to $17.63, MICRON TECHNOLOGY down 2.888% to $88.535, MODERNA Inc. down 4.068% at $169.57.

Economic news:

US: The United States will keep tariffs imposed on Chinese goods by the former Trump administration in place for now, but will evaluate how to proceed after a thorough review, Treasury Secretary Janet Yellen told CNBC on Thursday.

“For the moment, we have kept the tariffs in place that were put in by the Trump administration … and we’ll evaluate going forward what we think is appropriate,” Yellen told the cable news network, adding that Washington expected Beijing to adhere to its commitments on trade.

Asked if tariffs worked, Yellen hesitated, then said, “We’ll look at that.”

The White House last month said it would review all national security measures put in place by former President Donald Trump, including an interim trade deal with Beijing.

The deal eased tensions between the world’s two largest economies after a damaging trade war that U.S. experts estimate led to a peak loss of 245,000 U.S. jobs, but most of the tariffs remain in place on both sides.

Eurozone: The British state must take a bigger role in supporting businesses and the public, just as it did in the aftermath of World War Two, Labour Party leader Keir Starmer said on Thursday.

Starmer, who took over as leader of the main opposition party to Prime Minister Boris Johnson’s Conservatives in 2020, set out his alternative vision for the country’s post-Brexit and post-COVID future.

“I believe there’s a mood in the air which we don’t detect often in Britain. It was there in 1945 after the sacrifice of war, and it’s there again now,” he said. “It’s the determination that our collective sacrifice must lead to a better future.”

He proposed the creation of a “recovery bond” to allow the public to put their household savings into directly funding projects via the state-run National Infrastructure Bank.

Important Data: UK Retail Sales (MoM) (Jan) today at 2:0 this time estimated -2.5%, previously which was 0.3%. German Manufacturing PMI (Feb) today at 3:30 this time estimated 56.5, previously which was 57.1. UK Manufacturing PMI today at 4:30 previously which was 54.1. Core Retail Sales (MoM) (Dec) today at 8:30 this time estimated -2.0%, previously which was 2.1%.

TECHNICAL SUMMARY

 

[CSFX.Support]

Daily Market Report as of 23th February 2021
U.S. Futures pointed to another negative day for stock markets on Tuesday as a sell-off continues worldwide.

The S&P 500 futures fell over 14 points or 0.54% to 2,593.75 as of 6:50 AM ET (11:50 GMT) while Dow futures decreased 225 points or 0.94% to 23,713.0. Meanwhile, tech heavy Nasdaq 100 futures was down over 39 points or 0.61% to 6,390.0.

The Dow lost over a 1,000 points at the close on Monday, as inflation concerns pushed stocks down. The negative movements started on Friday after a report showed that U.S. wages increased at its fastest pace in eight and a half year.

Asian shares reversed their earlier gains on Wednesday as investors dumped U.S. stock futures for safer harbors, a sign market participants remain jittery after this week’s global markets rout.

While most analysts believed this week’s distressed selling looks to have run its course for the moment, allowing volatility to abate a little, the prospect of monetary tightening across the globe remains a challenge for the long term.

Japan’s Nikkei eased, but was still up 0.2 percent. Chinese blue chips and South Korea’s KOSPI index dropped more than 2 percent. Hong Kong’s Hang Seng dropped 1.09Australia’s S&P/ASX 200 gained 0.75 percent.

Gold was off a touch at $1,3332.70 an ounce gained 0.24 percent on Wednesday. Silver earned 0.45% to $16.665 an ounce. Copper price was slipped by 0.19% to $3.183 a pound. U.S. cotton is 0.54% higher at $76.60 while sugar lost 0.65% to $13.82.

Oil prices rose on Wednesday, lifted by a report that U.S. crude inventories fell last week, although analysts warned that soaring U.S. output and a seasonal demand drop could soon weigh on crude.

Brent crude futures were at $67.44 per barrel at 0751 GMT, up 58 cents, or 0.9 percent, from the previous close. U.S. West Texas Intermediate (WTI) crude futures were at $63.88 a barrel. That was up 49 cents, or 0.8 percent, from their last settlement.

Bitcoin is trading at 7727.1, 24.85% higher on the Bitfinex exchange, from its previous close.

Ethereum was last trading at $781.18, up 31.36% on the Bitfinex exchange on Wednesday. Ripple’s XRP token was 29.78% higher on the Poloniex exchange, for the day. Litecoin was trading at $145.76, up by 36.81%.

Technicals

 

[CSFX.Support]

Daily Market Report as of 24th February 2021
Asia Pacific stocks were down Wednesday morning, even as Treasury yields steadied and the U.S. Federal Reserve pledged continued support for the U.S. economic recovery from COVID-19. The Shanghai composite is down 2.79% at 3,533.93. Overall, the Singapore MSCI up 1.07% at 334.40. Over in Hong Kong, the Hang Seng Index down 2.78% to 29,731. In Japan, the Nikkei 225 down 1.56% at 29,700, while the Topix index is down 1.73% at 1903.5. South Korea’s Kospi down 2.32% to 2997.38. Australia S&P/ASX 200 down 0.90% at 6777.8.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.61% down at 13864.81, CAC 40 futures up 0.22% at 5779.8 and the UK 100 futures contract in the U.K. up 0.21% at 6,625.9.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.05% up at 31537.4 the S&P 500 up 0.13% to 3881.4 and the Nasdaq 100 down 0.22% at 13194.7, NYSE closes at 15359.13 up 0.12%.

In the Forex market, GBPUSD up 0.32% at 1.41575. The USDJPY up 0.26% at 105.51. The USDCHF up 0.25% at 0.90718. EURUSD down 0.03% at 1.21455, EUR/GBP down 0.32% at 0.85788. The USD/CNY down 0.04% at 6.4615, at the time of writing.

In the commodity market U.S Gold futures up 0.05% at $1,806.28. Elsewhere, Silver futures down 0.3% to $27.531 per ounce, Platinum down 0.27% at $1234.00 per ounce, and Palladium up 0.40% to $2,360.00.

Crude Oil down on Wednesday; Brent crude oil down 0.08% to $65.00 barrel while U.S. West Texas Intermediate (CLc1) is down 0.02% at $58.57.

In the Cryptocurrency Markets, BTCUSD at 49714.32 up 1.70%, Ethereum at 1618.31 up 2.55%, Litecoin at 179.22 up 0.97%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NETFLIX Inc. up 2.317% at $546.15, FACEBOOK up 2.122% at $265.85, FINSERV Inc. up 1.976% to $115.5, WORKDAY Inc. down 2.503% to $290.25, MODERNA Inc. down 5.773% to $150.17, TESLA Inc. down 2.192% at $698.84.

Economic news:

US: The U.S. House of Representatives will vote on Friday on legislation to provide $1.9 trillion in new coronavirus relief, Representative Steny Hoyer, the chamber’s No. 2 Democrat, said.

“The American people strongly support this bill, and we are moving swiftly to see it enacted into law,” Hoyer said on Twitter on Tuesday.

The House Budget Committee approved the measure on Monday. Passing more relief to ease the economic effects of the pandemic is a top priority of Democratic President Joe Biden.

Although polls show Americans want more economic support, Democrats – who narrowly control Congress – and Republicans differ sharply over how best to provide it. The U.S. coronavirus death toll this week surpassed the grim benchmark of 500,000 victims. Millions more have been left jobless by the pandemic.

Eurozone: Britain has agreed to the European Union’s request to delay ratification of their post-Brexit trade agreement until April 30, cabinet office minister Michael Gove said on Tuesday.

Earlier this month, the EU asked Britain if it could take extra time to ratify the agreement by extending until April 30 provisional application of the deal to ensure it was in all 24 of the bloc’s languages for parliamentary scrutiny.

In a letter to Maros Sefcovic, vice president of the European Commission, Gove wrote: “I can confirm that the United Kingdom is content to agree that the date on which provisional application shall cease to apply … should be extended to 30 April 2021.”

Important Data: German GDP (QoQ) (Q4) today at 2:00 this time estimated 0.1%, previously which was 8.5%. US New Home Sales (Jan) today at 10:00 this time estimated 855K, previously which was 842K. US Crude Oil Inventories today at 10:30 this time estimated -5.19M, previously which was -7.258M. AUSTRALIA Private New Capital Expenditure (QoQ) (Q4) today at 19:00 this time estimated 0.4%, previously which was -3.0%.

TECHNICAL SUMMARY

 

[CSFX.Support]

Daily Market Report as of 25th February 2021
Asian stocks perked up on Thursday after U.S. Federal Reserve Chair Jerome Powell reaffirmed interest rates would stay low. The Shanghai composite is up 0.91% at 3,597.20. Overall, the Singapore MSCI up 1.57% at 340.50. Over in Hong Kong, the Hang Seng Index up 1.50% to 30,145. In Japan, the Nikkei 225 up 1.75% at 30,160, while the Topix index is up 1.37% at 1928.0. South Korea’s Kospi up 2.26% to 3062.59. Australia S&P/ASX 200 up 0.95% at 6842.2.

European equities Wednesday closing. The DAX futures contract in Germany traded 0.80 up at 13976.00, CAC 40 futures up 0.31% at 5798.0 and the UK 100 futures contract in the U.K. up 0.50% at 6,659.0.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.35% up at 31961.9 the S&P 500 up 1.14% to 3925.4 and the Nasdaq 100 up 0.06% at 13323.0, NYSE closes at 15539.41 up 1.17%.

In the Forex market, GBPUSD up 0.01% at 1.41398. The USDJPY up 0.16% at 106.01. The USDCHF up 0.01% at 0.9066. EURUSD up 0.03% at 1.21649, EUR/GBP up 0.03% at 0.86028. The USD/CNY down 0.01% at 6.4548, at the time of writing.

In the commodity market U.S Gold futures down 0.44% at $1,796.70. Elsewhere, Silver futures down 0.27% to $27.987per ounce, Platinum down 0.57% at $1259.81 per ounce, and Palladium down 0.10% to $2,437.00.

Crude Oil mix on Thursday; Brent crude oil down 0.06% to $67.20 barrel while U.S. West Texas Intermediate (CLc1) is up 0.26% at $58.72.

In the Cryptocurrency Markets, BTCUSD at 50184.00 up 0.86%, Ethereum at 1598.16 down 1.68%, Litecoin at 180.28 down 0.91%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

BOEING Co. up 8.118% at $229.34, EBAY Inc. down 3.243% at $59.38, INTEL Corp. up 3.387% to $63.19, MICRON Tech. up 4.862% to $92.52, BAIDU Inc. down 9.619% to $167.53, TESLA Inc. up 6.179% at $742.02.

Economic news:

US: President Joe Biden said on Wednesday he would seek funding for legislation to supercharge chip manufacturing in the United States as a shortfall of semiconductors has forced U.S. automakers and other manufacturers to cut production.

Biden also signed an executive order on Wednesday aimed at addressing the global semiconductor chip shortage that has alarmed the White House and members of Congress, administration officials said.

The scarcity, exacerbated by the pandemic, was also the subject of a discussion between Biden and a bipartisan group of U.S. lawmakers at the White House on Wednesday.

Eurozone: British finance minister Rishi Sunak should follow the lead of the United States by announcing a 100-billion-pound stimulus push in next week’s budget to fuel an economic recovery from the COVID-19 pandemic, a think tank said on Thursday.

Sunak, who is due to announce a new budget plan on March 3, has already racked up more than 280 billion pounds ($395 billion) in coronavirus spending and tax cuts, pushing Britain’s borrowing to its highest since World War Two.

The Resolution Foundation said Sunak should extend emergency support for businesses and workers and announce a new round of stimulus measures to alleviate unemployment, boost green investment and help retailers.

Important Data: US Core Durable Goods Orders (MoM) (Jan) today at 8:30 this time estimated 0.7%, previously which was 1.1%. US GDP (QoQ) (Q4) today at 8:30 this time estimated 4.2%, previously which was 4%. US Initial Jobless Claims today at 8:30 this time estimated 838K, previously which was 861K. AUSTRALIA Trade Balance (YoY) (Jan) today at 16:45 previously which was 2940M.

TECHNICAL SUMMARY

 

[CSFX.Support]

TECHNICAL ANALYSIS REPORT – 01 MARCH 2021​

Asian shares rallied on Monday as some semblance of calm returned to bond markets after last week’s wild ride. The Shanghai Composite is up 0.90% at 3,539.46. Overall, the Singapore MSCI up 0.86% at 341.55. Over in Hong Kong, the Hang Seng Index down 0.86% to 29,209. In Japan, the Nikkei 225 1.26% at 29,620, while the Topix index is up 1.23% at 1899.0. South Korea’s Kospi down 2.80% to 3012.95. Australia S&P/ASX 200 up 1.74% at 6789.6.
European equities Friday closing. The DAX futures contract in Germany traded 0.67% down at 13786.29, CAC 40 futures down 1.39% at 5703.2 and the UK 100 futures contract in the U.K. up 0.68% at 6,538.6.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.5% down at 30932.4 the S&P 500 down 0.48% to 3811.2 and the Nasdaq 100 up 1.24% at 13070.7, NYSE closes at 15010.46 down 1.29%.
In the Forex market, GBPUSD up 0.42% at 1.39831. The USDJPY up 0.03% at 106.544. The USDCHF down 0.01% at 0.9084. EURUSD up 0.12% at 1.20848, EUR/GBP down 0.17% at 0.87414. The USD/CNY down 0.17% at 6.4617, at the time of writing.
In the commodity market U.S Gold futures up 1.10% at $1,751.59. Elsewhere, Silver futures up 0.93% to $26.893 per ounce, Platinum up 2.48% at $1217.99 per ounce, and Palladium up 1.16% to $2,345.50.
Crude Oil mix on Monday; Brent crude oil up 1.55% to $65.40 barrel while U.S. West Texas Intermediate (CLc1) is down 3.20% at $62.40.
In the Cryptocurrency Markets, BTCUSD at 46199.34 up 2.12%, Ethereum at 1432.57 up 0.82%, Litecoin at 165.04 up 0.10%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
ETSY Inc. up 11.484% at $220.61, CARNIVAL Corp. up 5.026% at $26.75, MICRON Tech. up 3.87% to $91.53, DISCOVERY Inc. up 3.472% to $45.00, AUTODESK Inc. down 2.827% to $276.00, KRAFT HEINZ Co. down 2.388% at $36.38.
Economic news:
US: The overnight U.S. repurchase agreement (repo) rate and the secured overnight financing rate (SOFR) recovered from roughly nine-month lows on Friday, but should remain under pressure this year as the market digests excess cash in the system.
In the repo market, Wall Street’s financial institutions borrow from money market funds and other investors and pledge their Treasuries and other securities they own as collateral.
The overnight repo rate rose to 0% on Friday after going negative at -0.05 the previous session, the lowest level since late April last year. SOFR, on the other hand, which also measures the cost of borrowing cash overnight using Treasury securities as collateral, also rose to 0.03%, from 0.01% on Thursday, matching the low hit in May 2020.
SOFR has replaced the London interbank offered rate (LIBOR) as an interest rate benchmark for banks.
Eurozone: British finance minister Rishi Sunak said on Sunday he would not rush to fix the public finances as he readied a budget plan which will pile more borrowing on top of almost 300 billion pounds ($418 billion) of COVID-19 spending and tax cuts.
Sunak, who is due to deliver his budget to parliament on Wednesday, promised to help the UK economy through a gradual lifting of lockdown measures that will last at least until late June. But he also said he would “level with people” about how Britain’s 2.1 trillion-pound debt pile would carry on growing without action.
“This is not something that’s going to happen overnight. Given the scale of the shock we’ve experienced, the scale of the damage, this is going to take time to fix,” Sunak told Sky News on Sunday.
Important Data: German Manufacturing PMI (Feb) today at 3:55 this time estimated 60.6, previously which was 57.1. US ISM Manufacturing PMI (Feb) today at 10:00 this time estimated 58.8, previously which was 58.7. JAPAN Capital Spending (YoY) (Q4) today at 18:50 previously which was -10.6%. US Manufacturing PMI (Feb) today at 9:45 previously which was 58.5.
TECHNICAL SUMMARY

 

[CSFX.Support]

TECHNICAL ANALYSIS REPORT – 02 MARCH 2021​

Asia Pacific stocks were mostly down Tuesday morning. The Shanghai composite is down 1.56% at 3,496.23. Overall, the Singapore MSCI down 0.18% at 341.05. Over in Hong Kong, the Hang Seng Index down 1.36% to 28,849. In Japan, the Nikkei 225 down 0.57% at 29,410, while the Topix index is down 0.24% at 1894.5. South Korea’s Kospi up 1.14% to 3047.39. Australia S&P/ASX 200 down 0.40% at 6762.3.

European equities Monday closing. The DAX futures contract in Germany traded 1.64% up at 14012.82, CAC 40 futures up 1.57% at 5792.8 and the UK 100 futures contract in the U.K. up 1.62% at 6,588.5.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.95% up at 31535.5 the S&P 500 up 2.38% to 3901.8 and the Nasdaq 100 down 0.37% at 13268.2, NYSE closes at 15327.77 up 2.11%.

In the Forex market, GBPUSD down 0.24% at 1.38920. The USDJPY up 0.07% at 106.832. The USDCHF up 0.10% at 0.91583. EURUSD down 0.20% at 1.20248, EUR/GBP up 0.06% at 0.86564. The USD/CNY up 0.11% at 6.4722, at the time of writing.

In the commodity market U.S Gold futures down 0.36% at $1,717.85. Elsewhere, Silver futures down 1.47% to $26.159 per ounce, Platinum down 0.59% at $1176.45 per ounce, and Palladium down 0.30% to $2,353.50.

Crude Oil down on Tuesday; Brent crude oil down 0.33% to $63.00 barrel while U.S. West Texas Intermediate (CLc1) is down 1.39% at $61.53.

In the Cryptocurrency Markets, BTCUSD at 48374.13 down 2.53%, Ethereum at 1539.42 down 2.06%, Litecoin at 171.54 down 2.75%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 11.037% at $244.58, INVESCO Ltd. up 10.348% at $24.74, TESLA Inc. up 6.355% to $718.43, DISCOVERY Inc. up 9.712% to $58.18, CARNIVAL Corp. down 1.645% to $26.31, APACHE Corp. down 1.064% at $19.52.

Economic news:

US: The U.S. Senate will begin debating President Joe Biden’s $1.9 trillion coronavirus relief bill this week, Senate Majority Leader Chuck Schumer said on Monday.

In remarks on the Senate floor, Schumer, a Democrat, did not say when the chamber might vote on the bill.

Eurozone: Banks in the European Union would have to publish a ground breaking “green asset ratio” (GAR) as a core measure of their climate-friendly business activities from next year, the EU’s banking watchdog proposed on Monday.

As the trend in sustainable investing gathers pace, regulators want investors to get more reliable information on a bank’s exposures to climate change as storms and other weather events affect the value of their assets and liabilities.

The European Banking Authority (EBA) said the ratio, put out to formal public consultation on Monday, will measure the amount of climate-friendly loans, advances and debt securities compared to total assets on a lender’s balance sheet to reach a percent figure.

“I believe it’s the first-time regulators are asking for a green asset ratio,” said Piers Haben, EBA’s director of banking, markets, innovation and consumers.

Important Data: UK Nationwide HPI (YoY) (Feb) today at 2:00 this time estimated -0.3%, previously which was -0.3%. German Unemployment Change (Feb) today at 3:55 this time estimated -13K, previously which was -41K. CANADA GDP (MoM) (Dec) today at 8:30 this time estimated 0.3%, previously which was 0.7%. AUSTRALIA GDP (QoQ) (Q4) today at 19:30 this time estimated 2.5%, previously which was 3.3%.

TECHNICAL SUMMARY

 

[CSFX.Support]

TECHNICAL ANALYSIS REPORT – 04 MARCH 2021​

Asia Pacific stocks were down Thursday morning. The Shanghai composite is down 1.66% at 3,517.96. Overall, the Singapore MSCI up 0.30% at 345.40. Over in Hong Kong, the Hang Seng Index down 2.45% to 28,963. In Japan, the Nikkei 225 down 2.22% at 29,940, while the Topix index is down 1.00% at 1884.0. South Korea’s Kospi down 1.15% to 3047.57. Australia S&P/ASX 200 up 0.84% at 6760.7.

European equities Wednesday closing. The DAX futures contract in Germany traded 0.29% up at 14080.03, CAC 40 futures up 0.35% at 5830.1 and the UK 100 futures contract in the U.K. up 0.93% at 6,675.5.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.39% down at 31270.1 the S&P 500 down 1.31% to 3819.7 and the Nasdaq 100 down 2.88% at 12683.3, NYSE closes at 15199.19 down 0.51%.

In the Forex market, GBPUSD up 0.04% at 1.39550. The USDJPY up 0.08% at 107.097. The USDCHF down 0.05% at 0.91936. EURUSD down 0.04% at 1.20574, EUR/GBP up 0.03% at 0.864. The USD/CNY down 0.01% at 6.4670, at the time of writing.

In the commodity market U.S Gold futures up 0.36% at $1,717.09. Elsewhere, Silver futures up 0.30% to $26.134 per ounce, Platinum up 0.419% at $1168.48 per ounce, and Palladium up 0.30% to $2,361.00.

Crude Oil up on Thursday; Brent crude oil up 1.02% to $64.53 barrel while U.S. West Texas Intermediate (CLc1) is up 2.12% at $62.01.

In the Cryptocurrency Markets, BTCUSD at 49329.23 down 2.07%, Ethereum at 1552.34 down 1.00%, Litecoin at 186.87 down 0.44%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

CARNIVAL Corp. up 3.915% at $28.67, ETSY Inc. down 12.507% at $208.61, DEXCOM Inc. down 5.922% to $368.7, FINSERV Inc. up 0.104% to $115.8, MODERNA Inc. down 10.619% to $131.22, KARFT HEINZ Co. up 1.769% at $37.98.

Economic news:

US: Racial and gender disparities lead to trillions of dollars in lost economic activity and a full recovery from the crisis caused by the pandemic will require structural changes that make it easier for women and minorities to find better paying jobs,

Philadelphia Federal Reserve Bank President Patrick Harker.

Black and Hispanic workers are experiencing unemployment rates that are sometimes twice as high as that of white workers, and women are leaving the workforce at higher rates than men, Harker said in remarks prepared for a virtual event organized by the Philadelphia Fed.

“Even with some hopeful signs as virus cases fall and the economy continues to reopen, I’m concerned that, as the broader economy climbs upward, far too many workers are being left behind,” he said.

Harker cited research from the San Francisco Fed estimating that gender and racial disparities in the labour market amount to about $2.6 trillion in economic losses. He said some workers will need help finding jobs, nodding to a tool recently launched by the Philadelphia Fed that helps workers identify similar, but better paying jobs that typically do not require a college degree.

Eurozone: The European Union promised legal action on Wednesday after the British government unilaterally extended a grace period for checks on food imports to Northern Ireland, a move Brussels said violated terms of Britain’s divorce deal.

Since it left the EU last year, Britain’s relations with the bloc have soured, with both sides accusing the other of acting in bad faith in relation to part of their trade agreement that covers goods movements to Northern Ireland.

The British government extended a grace period for some checks on agricultural and food products imported by retailers to Northern Ireland until Oct. 1 in a move it said was necessary to ensure the free flow of goods to the British region.

In a statement, the European Union expressed “strong concerns” at a move it said amounted to a violation of the substantive provisions of the Northern Ireland Protocol, the most contentious part of Britain’s divorce deal with the EU.

Important Data: UK Construction PMI (Feb) today at 4:30 this time estimated 51.0, previously which was 49.2. US Initial Jobless Claims today at 8:30 this time estimated 750K, previously which was 730K. US Nonfarm Productivity (QoQ) (Q4) today at 8:30 this time estimated -4.7%, previously which was -4.8%. CANADA Labour Productivity (QoQ) (Q4) today at 8:30 previously which was -10.3%. US Fed Chair Powell Speaks today at 12:05.

TECHNICAL SUMMARY

 

[CSFX.Support]

TECHNICAL ANALYSIS REPORT – 05 MARCH 2021​

Asian stocks skidded to one-month lows on Friday. The Shanghai composite is up 0.03% at 3,504.12. Overall, the Singapore MSCI up 0.78% at 347.25. Over in Hong Kong, the Hang Seng Index down 0.21% to 29,012. In Japan, the Nikkei 225 down 1.17% at 28,640, while the Topix index is down 0.53% at 1881.0. South Korea’s Kospi down 0.28% to 3035.73. Australia S&P/ASX 200 down 0.74% at 6710.8.
European equities Thursday closing. The DAX futures contract in Germany traded 0.17% down at 14056.34, CAC 40 futures up 0.01% at 5830.7 and the UK 100 futures contract in the U.K. down 0.07% at 6,598.8.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.11% down at 30924.1 the S&P 500 down 1.34% to 3768.5 and the Nasdaq 100 down 0.22% at 12462.1, NYSE closes at 14959.41 down 1.58%.
In the Forex market, GBPUSD down 0.05% at 1.38859. The USDJPY up 0.10% at 108.075. The USDCHF up 0.03% at 0.92887. EURUSD down 0.04% at 1.19584, EUR/GBP up 0.07% at 0.86119. The USD/CNY up 0.06% at 6.4730, at the time of writing.
In the commodity market U.S Gold futures down 0.08% at $1,696.00. Elsewhere, Silver futures down 0.45% to $25.219 per ounce, Platinum down 0.10% at $1126.81 per ounce, and Palladium up 0.28% to $2,346.50.
Crude Oil up on Friday; Brent crude oil up 0.63% to $67.40 barrel while U.S. West Texas Intermediate (CLc1) is up 3.34% at $64.08.
In the Cryptocurrency Markets, BTCUSD at 47144.58 down 2.51%, Ethereum at 1470.21 down 4.42%, Litecoin at 171.78 down 4.98%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
EXXON MOBIL Corp. up 3.875% at $58.71, WESTERN DIGITAL down 8.87% at $63.49, HP Inc. down 5.869% to $28.07, TWITTER Inc. down 5.8% to $66.75, FACEBOOK up 0.873% to $257.64, MODERNA Inc. up 0.823% at $132.3.
Economic news:
US: U.S. job growth likely accelerated in February as more services businesses reopened amid falling new COVID-19 cases, quickening vaccination rates and additional pandemic relief money from the government, putting the labor market recovery back on firmer footing and on course for further gains in the months ahead.
The Labour Department’s closely watched employment report on Friday will, however, also offer a reminder that as the United States enters the second year of the coronavirus pandemic the recovery remains excruciatingly slow, with millions of Americans experiencing long spells of joblessness and permanent unemployment.
Federal Reserve Chair Jerome Powell on Thursday offered an optimistic view of the labour market, but cautioned a return to full employment this year was “highly unlikely.”
“We will probably see more people having gone back on payrolls,” said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles. “Many will be related to service jobs, but that will not mean a rapid increase in jobs. It’s a slow progress toward eventual full recovery.”
Eurozone: The United States agreed a four-month suspension of retaliatory tariffs imposed on British goods such as Scotch whisky over a long-running aircraft subsidy row, with both sides pledging to use the time to resolve the dispute.
The U.S. administration under former president Donald Trump had imposed tariffs on an array of European Union food, wine and spirits, including on Scotch whisky, which the industry says had put its future at risk. Britain is party to the dispute as a former member of the EU.
“The United Kingdom and the United States are undertaking a four-month tariff suspension to ease the burden on industry and take a bold, joint step towards resolving the longest running disputes at the World Trade Organization,” a joint statement said.
“This will allow time to focus on negotiating a balanced settlement to the disputes, and begin seriously addressing the challenges posed by new entrants to the civil aviation market from non-market economies, such as China.”
Important Data: US Nonfarm Payrolls (Feb) today at 8:30 this time estimated 182K, previously which was 49K. US Unemployment Rate (Feb) today at 8:30 this time estimated 6.3%, previously which was 6.3%. CANADA Trade Balance (Jan) today at 8:30 this time estimated -1.40B, previously which was -1.67B. US Federal Budget today at 14:00 previously which was -430B.
TECHNICAL SUMMARY

 

[CSFX.Support]

TECHNICAL ANALYSIS REPORT – 09 MARCH 2021​

Asian stocks were lower on Tuesday as rising bond yields impacted tech shares and company valuations in China and Korea and investors grappled with their inflation fears as the United States looks set to pass a $1.9 trillion stimulus package. The Shanghai composite is down 0.77% at 3,394.88. Overall, the Singapore MSCI up 1.09% at 351.15. Over in Hong Kong, the Hang Seng Index up 1.02% to 28,765. In Japan, the Nikkei 225 up 1.01% at 29,040, while the Topix index is up 0.86% at 1918.0. South Korea’s Kospi down 0.56% to 2979.45. Australia S&P/ASX 200 up 0.47% at 6771.2.

European equities Monday closing. The DAX futures contract in Germany traded 3.31% up at 14380.91, CAC 40 futures up 2.08% at 5903.0 and the UK 100 futures contract in the U.K. up 1.34% at 6,719.1.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.97% up at 31802.4 the S&P 500 down 0.54% to 3821.1 and the Nasdaq 100 down 2.92% at 12299.1, NYSE closes at 15288.38 up 0.24%.

In the Forex market, GBPUSD up 0.22% at 1.38468. The USDJPY up 0.28% at 109.138. The USDCHF flat at 0.93560. EURUSD up 0.13% at 1.18620, EUR/GBP up 0.02% at 0.85668. The USD/CNY down 0.01% at 6.5228, at the time of writing.

In the commodity market U.S Gold futures up 0.44% at $1,690.58. Elsewhere, Silver futures up 0.86% to $25.337 per ounce, Platinum up 1.17% at $1150.78 per ounce, and Palladium up 0.24% to $2,325.50.

Crude Oil mix on Tuesday; Brent crude oil up 0.71% to $68.42 barrel while U.S. West Texas Intermediate (CLc1) is down 1.09% at $65.07.

In the Cryptocurrency Markets, BTCUSD at 54175.30 up 3.44%, Ethereum at 1838.87 up 0.16%, Litecoin at 200.59 up 4.72%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

WALT DISNEY Co. up 6.274% at $201.91, TERADYNE Inc. down 8.516% at $104.2, MICROCHIP Tech. down 5.975% to $136.75, CISCO SYSTEMS up 2.724% to $47.51, KRAFT HEINZ Co. up 2.166% to $38.67, NVIDIA Corp. down 6.968% at $463.73.

Economic news:

US: With plenty of practice sending out coronavirus relief payments, the U.S. government should be able to start delivering $1,400 checks almost immediately once Congress finalizes a new aid bill and President Joe Biden signs it, tax experts say.

Some Americans might receive direct payments as soon as this week if the House of Representatives, as expected, passes the $1.9 trillion bill on Tuesday, compared with the lag of several weeks experienced in April 2020. Nearly 160 million households are expected to get payments, the White House estimates.

The Treasury Department’s Internal Revenue Service will have new challenges on its hands, though, thanks to the relief bill, which Biden and his fellow Democrats argue is needed to stem the continuing economic fallout from the coronavirus pandemic.

Eurozone: The European Central Bank blamed large bond redemptions for failing to increase the pace of its emergency purchases last week, missing market expectations and adding to doubts about its commitment to supporting a pandemic-stricken, debt-laden economy.

Investors had been waiting for the weekly update to establish whether a divided ECB was prepared to step in and stem a selloff in government bond markets, largely spurred by talk of higher inflation in the United States.

The ECB bought 11.9 billion euros worth of bonds under its Pandemic Emergency Purchase Programme (PEPP) in the five days to March 5, slightly less than in the previous week, the data showed.

Important Data: German Trade Balance (Jan) today at 2:00 this time estimated 16.4B, previously which was 16.1B. EURO ZONE GDP (QoQ) (Q4) today at 5:00 this time estimated -0.6%, previously which was 12.4%. US API Weekly Crude Oil Stock today at 16:30 previously which was 7.356M. AUSTRALIA Building Approvals (MoM) today at 19:30 previously which was -19.4%.

TECHNICAL SUMMARY

 

[CSFX.Support]

TECHNICAL ANALYSIS REPORT – 10 MARCH 2021​

Asia Pacific stocks were mostly up Wednesday morning. The Shanghai composite is up 0.18% at 3,365.20. Overall, the Singapore MSCI down 1.61% at 346.05. Over in Hong Kong, the Hang Seng Index down 0.14% to 28,736. In Japan, the Nikkei 225 down 0.20% at 29,020, while the Topix index is down 0.16% at 1916.5. South Korea’s Kospi down 0.62% to 2957.64. Australia S&P/ASX 200 down 0.84% at 6714.1.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.40% up at 14437.94, CAC 40 futures up 0.37% at 5925.0 and the UK 100 futures contract in the U.K. down 0.53% at 6,695.6.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.10% up at 31832.7, the S&P 500 up 1.42% to 3875.4 and the Nasdaq 100 down 0.24% at 12762.7, NYSE closes at 15375.62 up 0.57%.

In the Forex market, GBPUSD down 0.23% at 1.38547. The USDJPY up 0.37% at 108.881. The USDCHF up 0.27% at 0.93009. EURUSD down 0.21% at 1.18748, EUR/GBP up 0.13% at 0.85704. The USD/CNY up 0.12% at 6.5129, at the time of writing.

In the commodity market U.S Gold futures down 0.14% at $1,713.00. Elsewhere, Silver futures down 0.61% to $25.757 per ounce, Platinum down 0.81% at $1158.51 per ounce, and Palladium up 0.20% to $2,307.00.

Crude Oil down on Wednesday; Brent crude oil down 0.66% to $66.72 barrel while U.S. West Texas Intermediate (CLc1) is down 1.03% at $64.40.

In the Cryptocurrency Markets, BTCUSD at 54060.00 down 1.21%, Ethereum at 1801.65 down 3.80%, Litecoin at 195.45 down 4.19%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TESLA Inc. up 19.641% at $673.58, ETSY Inc. up 8.688% at $206.79, NVIDIA Corp. up 8.033% to $500.81, DISCOVERY Inc. down 6.305% to $63.01, BIOGEN Inc. down 1.304% to $266.49, WALT DISNEY Co. down 3.665% at $194.51.

Economic news:

US: President Joe Biden’s name will not appear on the memo line of stimulus checks that will be issued to most Americans following passage of his coronavirus aid bill, the White House said on Tuesday.

Then-President Donald Trump had asked that the Internal Revenue Service (IRS) put his name on the first round of stimulus checks issued during the COVID-19 pandemic last year.

White House press secretary Jen Psaki said doing so was not a priority for Biden.

“The president will not appear on the line of the check,” she told reporters. “It will be signed by the career official. This is not about him. This is about the American people getting relief.”

Biden is expected to sign the $1.9 trillion aid bill as soon as this week after the House of Representatives takes up the bill on Wednesday. The chamber, which is controlled by Biden’s fellow Democrats, is expected to approve the bill along party lines.

Eurozone: The European Central Bank stepped up the pace of its emergency bond-buying last week after policy makers issued repeated warnings that a recent rise in yields threatens to derail the region’s economic recovery.

Gross purchases settled under its pandemic emergency program totaled 18.2 billion euros ($21.6 billion) in the week ended March 5, compared with 16.9 billion euros a week a earlier. The ECB also said 6.3 billion euros of debt was redeemed, contributing to the relatively muted pace of net buying reported a day earlier.

Neither set of data reflects orders made Thursday and Friday, as transactions take a couple of days to settle and show up in the central bank’s accounts.

German bonds held near the day’s highs after the report, with 10-year yields falling five basis points to -0.33%. Those in Italy led the region’s gains, narrowing the spread over Germany by three basis points to 101.

Important Data: US Core CPI (MoM) (Feb) today at 8:30 this time estimated 0.2%, previously which was 0.1%. US Crude Oil Inventories today at 10:30 this time estimated 0.816M, previously which was 21.563M. US Federal Budget Balance (Feb) today at 14:00 previously which was -163B. UK RICS House Price Balance (Feb) today at 19:01 previously which was 50%.

TECHNICAL SUMMARY

 

[CSFX.Support]

TECHNICAL ANALYSIS REPORT – 12 MARCH 2021​

Asian shares pushed higher on Friday after U.S. President Joe Biden signed a $1.9 trillion stimulus bill into law, and as a retreat in bond yields overnight eased global concerns about rising inflation. The Shanghai composite is up 0.17% at 3,442.23. Overall, the Singapore MSCI up 0.01% at 350.65. Over in Hong Kong, the Hang Seng Index down 0.30% to 29,190. In Japan, the Nikkei 225 up 0.96% at 29,500, while the Topix index is up 0.26% at 1931.5. South Korea’s Kospi up 1.36% to 3055.06. Australia S&P/ASX 200 up 0.79% at 6766.8.

European equities Thursday closing. The DAX futures contract in Germany traded 0.20% up at 14569.39, CAC 40 futures up 0.72% at 6033.8 and the UK 100 futures contract in the U.K. up 0.17% at 6,737.0.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.58% up at 32485.6, the S&P 500 up 1.04% to 3939.3 and the Nasdaq 100 down 0.17% at 13030.4, NYSE closes at 15648.05 up 0.81%.

In the Forex market, GBPUSD down 0.14% at 1.39728. The USDJPY up 0.24% at 108.750. The USDCHF up 0.36% at 0.92651. EURUSD down 0.17% at 1.19631, EUR/GBP down 0.05% at 0.85613. The USD/CNY down 0.07% at 6.4887, at the time of writing.

In the commodity market U.S Gold futures down 0.29% at $1,717.10. Elsewhere, Silver futures down 0.63% to $25.930 per ounce, Platinum up 0.60% at $1203.09 per ounce, and Palladium down 0.26% to $2,346.00.

Crude Oil mix on Friday; Brent crude oil down 0.23% to $69.39 barrel while U.S. West Texas Intermediate (CLc1) is up 1.35% at $65.52.

In the Cryptocurrency Markets, BTCUSD at 57164.68 down 1.05%, Ethereum at 1809.48 down 0.92%, Litecoin at 209.96 up 4.25%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 7.24% at $220.84, TWITTER Inc. up 5.599% at $68.46, GENERAL ELECTRIC down 7.396% to $12.27, WESTROCK Co. down 2.504% to $51.39, WORKDAY Inc. up 5.999% to $257.27, ZOOM VIDEO COMMUNICATION up 5.696% at $355.17.

Economic news:

US: The U.S. economy will grow faster than previously thought and reach pre-COVID-19 levels within six months, according to a majority of economists polled by Reuters who however said unemployment would take well over a year to recover.

Optimism was largely driven by the House of Representatives passing President Joe Biden’s $1.9 trillion relief aid in response to the pandemic, which has killed around 530,000 people in the U.S. and left millions out of work.

After shrinking 3.5% last year, the world’s largest economy was forecast to grow 5.7% this year – the highest since polling began for this period over two years ago, according to the March 8-11 survey of over 100 economists.

In response to an additional question, 85% of economists, or 51 of 60, said the economy would reach pre-COVID-19 levels within a year, including more than 60% expecting it within six months

Eurozone: British finance minister Rishi Sunak said on Thursday he did not favour setting a specific target for the level of public debt as a share of economic output, as broader criteria were better suited for future fiscal rules.

“It’s probably right to think more about trajectories of debt levels, building resilience for future shocks and the affordability of that debt,” Sunak told parliament’s Treasury Committee.

Last week Sunak announced a new budget plan which included a further 65 billion pounds ($91 billion) in stimulus to help the economy through what he hopes will be a gradual lifting of coronavirus restrictions between now and the end of June.

Britain’s public debt has leapt to more than 2 trillion pounds as a result of the huge increase in spending and tax cuts ordered by Sunak in response to COVID-19, and it is expected to be above 100% of gross domestic product until at least the mid-2020s

Important Data: UK GDP (MoM) today at 2:00 this time estimated -4.9%, previously which was 1.2%. UK Manufacturing Production (MoM) (Jan) today at 2:00 this time estimated -0.8%, previously which was 0.3%. US PPI (MoM) (Feb) today at 8:30 this time estimated 0.5%, previously which was 1.3%. CANADA Employment Change (Feb) today at 8:30 this time estimated 75K, previously which was -212.8K.

TECHNICAL SUMMARY

 

[CSFX.Support]

TECHNICAL ANALYSIS REPORT – 16 MARCH 2021​

Asian stocks rose on Tuesday, tracking an advance by Wall Street’s main indexes to record highs, as investors looked to key central bank meetings this week, starting with the U.S. Federal Reserve. The Shanghai composite is up 0.55% at 3,438.59. Overall, the Singapore MSCI down 0.06% at 350.90. Over in Hong Kong, the Hang Seng Index up 0.49% to 28,979. In Japan, the Nikkei 225 up 0.68% at 29,730, while the Topix index is up 0.82% at 1961.0. South Korea’s Kospi up 0.71% to 3068.20. Australia S&P/ASX 200 up 0.80% at 6827.1.
European equities Monday closing. The DAX futures contract in Germany traded 0.28% down at 14461.42, CAC 40 futures down 0.17% at 6036.0 and the UK 100 futures contract in the U.K. down 0.17% at 6,749.7.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.53% up at 32953.5, the S&P 500 up 0.65% to 3968.9 and the Nasdaq 100 up 1.12% at 13082.5, NYSE closes at 15775.50 up 0.38%.
In the Forex market, GBPUSD down 0.18% at 1.38648. The USDJPY up 0.05% at 109.177. The USDCHF down 0.03% at 0.92707. EURUSD up 0.04% at 1.19295, EUR/GBP up 0.35% at 0.86047. The USD/CNY down 0.01% at 6.4977, at the time of writing.
In the commodity market U.S Gold futures up 0.29% at $1,736.10. Elsewhere, Silver futures up 0.10% to $26.234 per ounce, Platinum up 0.68% at $1219.44 per ounce, and Palladium down 0.04% to $2,392.50.
Crude Oil down on Tuesday; Brent crude oil down 0.71% to $68.23 barrel while U.S. West Texas Intermediate (CLc1) is down 0.17% at $65.52.
In the Cryptocurrency Markets, BTCUSD at 54134.40 down 2.72%, Ethereum at 1747.46 down 2.55%, Litecoin at 195.69 down 2.55%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
UNITED AIRLINES up 8.261% at $60.94, AMERICAN AIRLINES up 7.702% at $25.17, GAP Inc. up 4.674% to $32.25, CARNIVAL Corp. up 4.673% to $29.79, EXXON MOBIL Corp. down 2.55% to $60.39, GENERAL MOTORS down 2.228% at $57.94.
Economic news:
US: Former top U.S. economic adviser Gene Sperling will oversee the Biden administration’s implementation of the $1.9 trillion COVID-19 stimulus plan, the White House said on Monday as President Joe Biden readies to promote the recovery effort.
Sperling, who advised Biden’s presidential campaign and served under former Democratic Presidents Barack Obama and Bill Clinton, will work with officials across the administration, White House spokeswoman Jen Psaki told reporters at a briefing.
Biden announced the move at a White House event, calling Sperling a “gifted manager” who would ensure that the massive rescue plan was implemented fastidiously.
Eurozone: British finance minister Rishi Sunak and U.S. Treasury Secretary Janet Yellen spoke on the phone on Monday to discuss a possible new allocation of Special Drawing Rights (SDRs), the UK treasury
Both agreed that a new SDR allocation could form an important part of a package of support for low-income countries and could be vital for securing a truly global recovery, the statement added.
Important Data: French HICP (MoM) (Feb) today at 3:45 this time estimated 0.3%, previously which was 0.3%. German ZEW Economic Sentiment (Mar) today at 6:00 this time estimated 74.0, previously which was 71.2. US Core Retail Sales (MoM) (Feb) today at 8:30 this time estimated -0.1%, previously which was 5.9%. JAPAN Exports (YoY) (Feb) today at 19:50 this time estimated -0.8%, previously which was 6.4%.
TECHNICAL SUMMARY