Daily Technical Analysis Report By Capital Street Fx

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 10 SEPTEMBER 2021​

Asia Pacific stocks were mostly up on Friday morning. The Shanghai composite is up 0.63% at 3,715.85. Overall, the Singapore MSCI up 1.07% at 355.50. Over in Hong Kong, the Hang Seng Index up 1.87% at 26,125. In Japan, the Nikkei 225 up 0.47% at 30,130, while the Topix index is up 0.10% at 2068.5. South Korea’s Kospi up 0.39% to 3125.39. Australia S&P/ASX 200 up 0.51% at 7407.4.
European equities Thursday closing. The DAX futures contract in Germany traded up 0.08% at 15623.15, CAC 40 futures up 0.24% at 6684.73 and the UK 100 futures contract in the U.K. down 1.00% at 7,024.22.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.43% at 34879.39. The S&P 500 down 0.46% at 4493.27 and the Nasdaq 100 up 0.19% at 15591.3, NYSE closes at 16663.12 down 0.41%.
In the Forex market, GBPUSD up 0.07% at 1.3843. The USDJPY up 0.20% at 109.89. The USDCHF down 0.01% at 0.9165. EURUSD up 0.03% at 1.18278, EUR/GBP up 0.01% at 0.8544. The USD/CNY down 0.21% at 6.4417 at the time of writing.
In the commodity market U.S. Gold futures up 0.47% at $1,802.41. Elsewhere, Silver futures up 0.78% to $24.219 per ounce, Platinum up 0.31% at $982.59 per ounce, and Palladium up 1.74% at $2,222.50.
Crude Oil mix on Friday; Brent crude oil up 1.00% at $72.05 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.92% at $68.88.
In the Cryptocurrency Markets, BTCUSD at 46706.54 up 0.68%, Ethereum up 0.92% at 3455.41, Litecoin at 183.88 up 2.00%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Moderna Inc. up 7.808% at $455.92, Willis Towers Watson PLC up 4.448% at $236,
KLA Corp. up 3.29% to $347.83, Biogen Inc. down 6.655% to $300.15, Seagen Inc. down 2.069% to $149.59, NetEase Inc. down 2.06% at $88.91.
Economic news:
US: Two Federal Reserve officials said on Thursday they would sell their individual stock holdings by the end of the month to address the appearance of conflicts of interest.
Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren issued statements saying they would invest the proceeds of those sales in diversified index funds and cash savings and would not trade in those accounts as long as they are serving in their roles.
The announcements come after the official’s faced scrutiny over trades they made last year, according to their financial disclosure forms.
Eurozone: The Bank of England will raise borrowing costs by end-2022, earlier than previously thought, and there is a chance it comes even sooner as a solid economic recovery from the pandemic and high inflation may tip its hand, a Reuters poll found.
Like central banks across the world, the BoE slashed borrowing costs at the height of the coronavirus pandemic and also restarted its quantitative easing programme. But as daily deaths from COVID-19 have fallen thanks to extensive vaccination, much of life in Britain has returned to normal.
Bank Rate was seen rising to 0.25% in the fourth quarter of 2022 from its current record low of 0.10%, according to the Sept. 6-9 poll. In an August poll no change was expected until 2023.
Such a move would put the BoE ahead of the U.S. Federal Reserve, which is not forecast to raise interest rates until 2023, although the Fed is expected to announce a plan to taper its asset purchases this month, a separate Reuters poll found.
Important Data: US PPI (MoM) (Aug) today at 8:30 this time estimated 0.6%, previously which was 1.0%. CANADA Employment Change (Aug) today at 8:30 this time estimated 100K, previously which was 94K. CANADA Unemployment Rate (Aug) today at 08:30 this time estimated 7.3%, previously which was 7.5%. RUSSIA Interest Rate Decision (Sep) today at 6:30 this time estimated 7%, previously which was 6.5%.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- BUY AT 1.38425, TAKE PROFIT AT 1.38680 AND STOP LOSS AT 1.38132
EURUSD

TRADE SUGGESTION- BUY AT 1.18233, TAKE PROFIT AT 1.18426 AND STOP LOSS AT 1.18033
EURGBP

TRADE SUGGESTION- SELL AT 0.8537, TAKE PROFIT AT 0.8508 AND STOP LOSS AT 0.8548
EURJPY

TRADE SUGGESTION- BUY AT 129.952, TAKE PROFIT AT 130.216 AND STOP LOSS AT 129.829
S&P 500

TRADE SUGGESTION- SELL AT 4502.74 TAKE PROFIT AT 4479.23 AND STOP LOSS AT 4516.33
WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 68.66 TAKE PROFIT AT 68.12 AND STOP LOSS AT 69.20
GOLD

TRADE SUGGESTION- BUY AT 1801.95, TAKE PROFIT AT 1806.82 AND STOP AT 1797.50
ETHEREUM

TRADE SUGGESTION- SELL AT 3418.90 TAKE PROFIT AT 3326.75 AND STOP AT 3539.31

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 13 SEPTEMBER 2021​

Asia Pacific stocks were mostly down on Monday morning. The Shanghai composite is up 0.28% at 3,713.35. Overall, the Singapore MSCI down 1.12% at 352.15. Over in Hong Kong, the Hang Seng Index down 2.03% at 25,610. In Japan, the Nikkei 225 up 0.46% at 30,300, while the Topix index is up 0.48% at 2083.0. South Korea’s Kospi up 0.06% to 3127.40. Australia S&P/ASX 200 up 0.15% at 7417.8.
European equities Friday closing. The DAX futures contract in Germany traded down 0.09% at 15609.81, CAC 40 futures down 0.31% at 6663.78 and the UK 100 futures contract in the U.K. up 0.07% at 7,029.21.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.78% at 34607.73. The S&P 500 down 0.77% at 4458.57 and the Nasdaq 100 up 0.21% at 15482.2, NYSE closes at 16563.47 down 0.60%.
In the Forex market, GBPUSD down 0.04% at 1.38198. The USDJPY up 0.21% at 110.105. The USDCHF up 0.27% at 0.9197. EURUSD down 0.19% at 1.17857, EUR/GBP down 0.09% at 0.8528. The USD/CNY up 0.14% at 6.4541 at the time of writing.
In the commodity market U.S. Gold futures up 0.19% at $1,790.63. Elsewhere, Silver futures down 0.16% to $23.711 per ounce, Platinum up 0.31% at $958.48 per ounce, and Palladium down 0.04% at $2,137.68.
Crude Oil up on Monday; Brent crude oil up 0.99% at $73.58 per barrel while U.S. West Texas Intermediate (CLc1) is up 1.20% at $69.71.
In the Cryptocurrency Markets, BTCUSD at 44819.60 down 2.67%, Ethereum down 3.72% at 3279.02, Litecoin at 176.83 down 3.39%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Nov Inc. up 2.909% at $13.09, General Motors Co. up 2.21% at $49.49, KLA Corp. up 3.29% to $347.83, Biogen Inc. down 6.655% to $300.15, Zoom Video Comm. up 1.906% to $301.50, NVIDIA Corp. up 1.357% at $224.78.
Economic news:
US: U.S. Senator Joe Manchin on Sunday said lawmakers were unlikely to pass their massive budget package by Democrats’ Sept. 27 deadline, adding that he could support a smaller $1.5 trillion bill.
Manchin, a West Virginia moderate who has urged a “pause” on fellow Democrat U.S. President Joe Biden’s $3.5 trillion domestic spending plan, said while he supported some provisions such as universal preschool, he did not back clean energy and other measures.
The plan would also have to include a “competitive tax code” to help pay for it, he told CNN, adding he could support a domestic spending bill costing between $1 trillion and $1.5 trillion.
House Speaker Nancy Pelosi had agreed to hold a Sept. 27 vote on a separate bipartisan $1 trillion infrastructure bill. While Biden and Pelosi had hoped to pass both bills together, centrist House Democrats had objected and pressed for a vote on funding for roads and other projects first.
Eurozone: British businesses demanded that finance minister Rishi Sunak stop raising their taxes and instead offer more help to meet the challenges of Brexit, COVID-19 and climate change when he makes major budget statements next month.
The Confederation of British Industry urged Sunak to “flip business taxation on its head” when he sets out new tax proposals and a three-year spending plan on Oct. 27.
“The lack of detail and pace from the government on some of the big economic choices we must make as a country are the biggest concerns for business,” CBI Director General Tony Danker said in excerpts of a speech to be delivered later on Monday.
Danker told Sunak to stop hitting companies that invest in making their premises less carbon-intensive with increased property tax payments, a quirk of the business rates system.
He also said more needed to be done to boost skills training, speed up the development of new infrastructure projects such as Britain’s delayed high-speed railway and rewrite market rules to attract more private investment.
Important Data: US Federal Budget Balance (Aug) today at 14:00 this time estimated -173B, previously which was -302B. AUSTRALIA House Price Index (QoQ) (Q2) today at 21:30 this time estimated 6.1%, previously which was 5.4%. AUSTRALIA NAB Business Confidence (Aug) today at 21:30 previously which was -8.0. EURO ZONE ECB President Lagarde Speaks today at 9:30.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- BUY AT 1.37987, TAKE PROFIT AT 1.38248 AND STOP LOSS AT 1.37805
EURUSD

TRADE SUGGESTION- SELL AT 1.17781, TAKE PROFIT AT 1.17609 AND STOP LOSS AT 1.18013
GBPJPY

TRADE SUGGESTION- BUY AT 151.998, TAKE PROFIT AT 152.256 AND STOP LOSS AT 151.753
CHFJPY

TRADE SUGGESTION- SELL AT 119.548, TAKE PROFIT AT 119.337 AND STOP LOSS AT 119.806
DAX 30

TRADE SUGGESTION- SELL AT 15716.00 TAKE PROFIT AT 15654.1 AND STOP LOSS AT 15757.1
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 70.22 TAKE PROFIT AT 70.72 AND STOP LOSS AT 69.76
GOLD

TRADE SUGGESTION- SELL AT 1789.44, TAKE PROFIT AT 1781.82 AND STOP AT 1794.30
BTCUSD

TRADE SUGGESTION- SELL AT 44382.14 TAKE PROFIT AT 43705.70 AND STOP AT 45301.20

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 14 SEPTEMBER 2021​

Asia Pacific stocks were mostly down on Tuesday morning. The Shanghai composite is down 1.35% at 3,664.57. Overall, the Singapore MSCI up 0.48% at 353.75. Over in Hong Kong, the Hang Seng Index down 1.61% at 25,368. In Japan, the Nikkei 225 up 0.23% at 30,400, while the Topix index is up 0.62% at 2099.0. South Korea’s Kospi up 0.67% to 3148.83. Australia S&P/ASX 200 up 0.16% at 7437.3.
European equities Monday closing. The DAX futures contract in Germany traded up 0.59% at 15701.42, CAC 40 futures up 0.20% at 6676.94 and the UK 100 futures contract in the U.K. down 0.15% at 7,055.30.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.76% at 34869.64. The S&P 500 up 0.23% at 4468.72 and the Nasdaq 100 down 0.04% at 15434.50, NYSE closes at 16635.38 up 0.43%.
In the Forex market, GBPUSD up 0.12% at 1.38545. The USDJPY up 0.09% at 110.038. The USDCHF flat at at 0.9210. EURUSD up 0.05% at 1.18161, EUR/GBP flat at 0.8529. The USD/CNY down 0.07% at 6.4470 at the time of writing.
In the commodity market U.S. Gold futures down 0.03% at $1,792.71. Elsewhere, Silver futures down 0.13% to $23.70 per ounce, Platinum down 0.62% at $959.80 per ounce, and Palladium down 0.86% at $2,068.00.
Crude Oil up on Tuesday; Brent crude oil up 0.45% at $73.96 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.49% at $70.05.
In the Cryptocurrency Markets, BTCUSD at 45859.11 up 2.02%, Ethereum up 1.67% at 3336.51, Litecoin at 179.93 up 0.44%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Marathon Oil Corp. up 7.187% at $12.08, Hess Corp. up 5.342% at $71.39, Moderna Inc. down 6.6% to $419.72, Intel Corp. up 2.136% to $54.99, Microchip Technology Inc. up 2.045% to $160.70, DocuSign Inc. down 2.14% at $271.22.
Economic news:
US: Leading Democrats in the U.S. House of Representatives on Monday proposed a substantial roll-back of former President Donald Trump’s tax cuts, including raising the top tax rate on corporations to 26.5% from the current 21%.
Democrats on the powerful House Ways and Means Committee said they will debate legislation this week that would achieve the changes as part of their broader, $3.5 trillion domestic investment plan.
In an attempt to finance the new spending, the Democratic-led committee will debate a proposal to raise $2.9 trillion in revenue over 10 years, according to a document circulated among members of the panel.
Besides increasing corporate taxes, wealthy individuals would see a jump in their income taxes as well as higher capital gains and estate taxes.
Even if the legislation as proposed passes Congress and is signed by Democratic President Joe Biden, corporate taxes would still be lower than they were before the enactment of the tax cuts pushed through by Republicans in 2017. But the top individual income tax rate would revert to its pre-2017 level.
Eurozone: British firms must do more to take advantage of new export routes opened up by Brexit, trade minister Liz Truss will say on Tuesday, calling for a shift from “defence to offence in trade” to help drive economic growth.
Truss will point to government research showing Britain’s comparative economic advantage – what Britain can do better and more efficiently than its peers – lies in providing digital and financial services to fast-growing Asian economies.
“The path to economic revival does not lie in retreating and retrenching but in free trade and free enterprise,” she will say in a speech, according to advance extracts.
“British employers can only benefit from free trade by selling their products, innovation, capital, and ideas overseas.”
Important Data: US Core CPI (MoM) (Aug) today at 8:30 this time estimated 0.3%, previously which was 0.3%. CANADA Manufacturing Sales (MoM) (Jul) today at 8:30 this time estimated -1.2%, previously which was 2.1%. CHINA Industrial Production (YoY) (Aug) today at 22:00 this time estimated 5.8%, previously which was 6.4%. AUSTRALIA Westpac Consumer Sentiment (Sep) today at 20:30 previously which was -4.4%.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- BUY AT 1.38662, TAKE PROFIT AT 1.38914 AND STOP LOSS AT 1.38439
EURUSD

TRADE SUGGESTION- SELL AT 1.1823, TAKE PROFIT AT 1.1796 AND STOP LOSS AT 1.1839
USDJPY

TRADE SUGGESTION- BUY AT 109.964, TAKE PROFIT AT 110.128 AND STOP LOSS AT 109.860
USDCHF

TRADE SUGGESTION- BUY AT 0.9211, TAKE PROFIT AT 0.9232 AND STOP LOSS AT 0.9200
FTSE 100

TRADE SUGGESTION- SELL AT 7045.20 TAKE PROFIT AT 7016.6 AND STOP LOSS AT 7063.9
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 71.05 TAKE PROFIT AT 71.98 AND STOP LOSS AT 70.47
GOLD

TRADE SUGGESTION- SELL AT 1788.83, TAKE PROFIT AT 1779.81 AND STOP AT 1797.70
ETHEREUM

TRADE SUGGESTION- SELL AT 3311.67 TAKE PROFIT AT 3212.61 AND STOP AT 3374.93

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 15 SEPTEMBER 2021​

Asia Pacific stocks were down on Wednesday morning. The Shanghai composite is down 0.55% at 3,642.57. Overall, the Singapore MSCI down 0.58% at 352.05. Over in Hong Kong, the Hang Seng Index down 1.54% at 25,055. In Japan, the Nikkei 225 down 0.16% at 30,350, while the Topix index is down 0.79% at 2082.5. South Korea’s Kospi up 0.15% to 3153.40. Australia S&P/ASX 200 down 0.27% at 7417.0.
European equities Tuesday closing. The DAX futures contract in Germany traded up 0.14% at 15722.99, CAC 40 futures down 0.36% at 6652.98 and the UK 100 futures contract in the U.K. up 0.01% at 7,024.30.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.84% at 34577.58. The S&P 500 down 0.57% at 4443.05 and the Nasdaq 100 up 0.11% at 15422.30, NYSE closes at 16497.23 down 0.83%.
In the Forex market, GBPUSD up 0.15% at 1.38229. The USDJPY down 0.17% at 109.502. The USDCHF down 0.06% at 0.9195. EURUSD up 0.03% at 1.18057, EUR/GBP down 0.05% at 0.85393. The USD/CNY up 0.01% at 6.4385 at the time of writing.
In the commodity market U.S. Gold futures down 0.08% at $1,802.64. Elsewhere, Silver futures down 0.50% to $23.72 per ounce, Platinum down 1.01% at $931.26 per ounce, and Palladium down 0.42% at $1,968.16.
Crude Oil up on Wednesday; Brent crude oil up 0.24% at $74.10 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.01% at $70.06.
In the Cryptocurrency Markets, BTCUSD at 46946.31 down 0.33%, Ethereum down 1.52% at 3384.45, Litecoin at 181.20 down 0.99%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Moderna Inc. up 1.904% at $427.71, Marriott International Inc. up 1.686% at $142.34, MSCI Inc. up 1.558% to $653.27, Comcast Corp. down 7.304% to $55.59, JD.Com Inc. down 2.832% to $77.9, Fiserv Inc. down 2.435% at $107.39.
Economic news:
US: The U.S. House Energy and Commerce Committee voted on Tuesday to give the Federal Trade Commission $1 billion to set up a bureau dedicated to improving data security and privacy and fighting identity theft.
The proposal, which Democrats included in a $3.5 trillion spending measure, would fund a new bureau over 10 years to address “unfair or deceptive acts or practices relating to privacy, data security, identity theft, data abuses, and related matters,” according to a summary released by the panel.
The committee began work on the wide-ranging spending proposal on Monday and was continuing to work on Tuesday evening.
The FTC, which enforces antitrust law, has picked up the job of pushing corporations to better protect consumer data and privacy as it enforces rules against deceptive practices.
Eurozone: British inflation hit a more than nine-year high last month after the biggest monthly jump in the annual rate in at least 24 years, largely due to a one-off boost reflecting the “Eat Out to Help Out” scheme that pushed down restaurant meal prices last year.
Consumer prices rose by 3.2% in annual terms last month after a 2.0% rise in July, the highest rate since March 2012, the Office for National Statistics said.
The 1.2 percentage point rise in the annual rate of inflation in the space of a month marked the sharpest such increase since detailed records started in 1997.
A Reuters poll of economists had pointed to a reading of 2.9% for August.
“Much of this (increase) is likely to be temporary as last year restaurant and café prices fell substantially due to the ‘Eat Out to Help Out’ scheme, while this year prices rose,” said ONS statistician Jonathan Athow.
Important Data: EURO ZONE Industrial Production (MoM) (Jul) today at 8:30 this time estimated 0.6%, previously which was -0.3%. CANADA Core CPI (MoM) (Aug) today at 8:30 previously which was 0.6%. US Crude Oil Inventories today at 10:30 this time estimated -3.544M, previously which was -1.529M. US Cushing Crude Oil Inventories today at 10:30 previously which was 1.918M.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- BUY AT 1.38318, TAKE PROFIT AT 1.38568 AND STOP LOSS AT 1.38135
EURUSD

TRADE SUGGESTION- BUY AT 1.1810, TAKE PROFIT AT 1.1842 AND STOP LOSS AT 1.1795
EURGBP

TRADE SUGGESTION- SELL AT 0.85365, TAKE PROFIT AT 0.85276 AND STOP LOSS AT 0.85483
EURJPY

TRADE SUGGESTION- SELL AT 129.311, TAKE PROFIT AT 129.129 AND STOP LOSS AT 129.546
CAC 40

TRADE SUGGESTION- SELL AT 6635.3 TAKE PROFIT AT 6614.8 AND STOP LOSS AT 6655.7
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 71.11 TAKE PROFIT AT 71.90 AND STOP LOSS AT 70.54
GOLD

TRADE SUGGESTION- BUY AT 1801.24, TAKE PROFIT AT 1808.52 AND STOP AT 1794.46
BTCUSD

TRADE SUGGESTION- BUY AT 46993.57 TAKE PROFIT AT 48022.51 AND STOP AT 45973.39

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 17 SEPTEMBER 2021​

Asia Pacific stocks were mixed on Friday morning. The Shanghai composite is down 0.40% at 3,592.82. Overall, the Singapore MSCI up 0.08% at 354.50. Over in Hong Kong, the Hang Seng Index up 0.59% at 24,790. In Japan, the Nikkei 225 up 0.36% at 30,310, while the Topix index is up 0.02% at 2080.5. South Korea’s Kospi up 0.14% to 3134.71. Australia S&P/ASX 200 down 0.78% at 7403.0.
European equities Thursday closing. The DAX futures contract in Germany traded up 0.23% at 15651.75, CAC 40 futures up 0.59% at 6622.60 and the UK 100 futures contract in the U.K. up 0.16% at 7,027.49.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.18% at 34751.33. The S&P 500 down 0.15% at 4473.76 and the Nasdaq 100 up 0.12% at 15535.6, NYSE closes at 16576.77 down 0.30%.
In the Forex market, GBPUSD up 0.12% at 1.38057. The USDJPY up 0.17% at 109.899. The USDCHF down 0.07% at 0.9268. EURUSD up 0.02% at 1.17683, EUR/GBP down 0.03% at 0.85236. The USD/CNY down 0.13% at 6.4494 at the time of writing.
In the commodity market U.S. Gold futures up 0.50% at $1,762.45. Elsewhere, Silver futures up 0.24% to $22.94 per ounce, Platinum up 1.39% at $943.37 per ounce, and Palladium down 1.38% at $2004.50.
Crude Oil mix on Friday; Brent crude oil down 0.16% at $75.49 per barrel while U.S. West Texas Intermediate (CLc1) is flat at $70.87.
In the Cryptocurrency Markets, BTCUSD at 48083.79 up 0.68%, Ethereum down 0.21% at 3563.63, Litecoin at 186.54 up 0.53%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
ETSY Inc. up 3.095% at $224.15, Dexcom Inc. up 2.44% at $565.13, A O Smith Corp. down 2.629% to $66.66, Moderna Inc. up 1.425% to $440.65, Baidu Inc. down 1.342% to $159.56, Exelon Corp. down 1.318% at $50.18.
Economic news:
US: When night fell, a clerk at a bustling 24-hour MotoMart flipped a switch from behind the counter.
Electromagnetic locks sealed the doorway. A window sign, now illuminated in red, warned “facial recognition technology in use” and directed customers to “look up at the camera.”
On this recent weeknight, a woman who wanted cigarettes was locked out. Confused at first, she quickly realized that she needed to remove her medical mask. After her unobstructed facial image was scanned into a store computer, then screened against the company’s photo archives of previous customers convicted of store-related crimes, the doors clicked open.
Just a few miles away, across the Missouri state line in Illinois, such screening is against the law under the toughest privacy laws in the country. Private companies must obtain written consent before stockpiling facial images or any biometric identifier – fingerprints, palms, eyes and voice.
Eurozone: European Central Bank (ECB) chief economist Philip Lane revealed in a private meeting with German economists that the ECB expects to hit its 2% inflation goal by 2025, the Financial Times said on Thursday in a report that was partly disputed by the bank.
The ECB had not made this long-term forecast public, meaning Lane could face questions from the public and lawmakers about the report, which suggests he revealed unpublished information to a select group of individuals.
The FT added that Lane told the German economists that the ECB’s “medium-term reference scenario” showed inflation rebounding to 2% soon after the end of its current forecast period.
The ECB, which initially declined to comment, later disputed the story, calling it inaccurate.
“Mr Lane didn’t say in any conversation with analysts that the euro area will reach 2% inflation soon after the end of the ECB’s projection horizon,” an ECB spokesman said in a written statement.
Important Data: EURO ZONE CPI (YoY) (Aug) today at 8:30 this time estimated 3.0%, previously which was 2.2%. US Michigan Consumer Expectations (Sep) today at 10:00 previously which was 65.1. UK CFTC GBP speculative net positions today at 15:30 previously which was -24.5K. AUSTRALIA CFTC AUD speculative net positions today at 15:30 previously which was -70.5K.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.3793, TAKE PROFIT AT 1.3779 AND STOP LOSS AT 1.3808
EURUSD

TRADE SUGGESTION- SELL AT 1.1769, TAKE PROFIT AT 1.1750 AND STOP LOSS AT 1.1788
USDJPY

TRADE SUGGESTION- SELL AT 109.839, TAKE PROFIT AT 109.748 AND STOP LOSS AT 109.979
USDCHF

TRADE SUGGESTION- BUY AT 0.92715, TAKE PROFIT AT 0.92771 AND STOP LOSS AT 0.92698
NASDAQ 100

TRADE SUGGESTION- BUY AT 15520.99 TAKE PROFIT AT 15606.98 AND STOP LOSS AT 15432.02
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 72.05 TAKE PROFIT AT 72.84 AND STOP LOSS AT 71.53
GOLD

TRADE SUGGESTION- SELL AT 1764.99, TAKE PROFIT AT 1758.44 AND STOP AT 1769.90
BTC USD

TRADE SUGGESTION- BUY AT 47889.00 TAKE PROFIT AT 48816.52 AND STOP AT 47025.11

 

[CSFXNEWS]

TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 21 SEPTEMBER 2021​

Asia Pacific stocks were down on Tuesday morning. The Shanghai Composite is up 0.19% at 3,613.96. Overall, the Singapore MSCI is up 0.35% at 353.95. Over in Hong Kong, the Hang Seng Index down 0.42% at 23,957.00. In Japan, the Nikkei 225 is down 1.85% at 29,790.00, while the Topix index is down 1.44% at 2057.5. South Korea’s Kospi up 0.33% to 3140.51. Australia S&P/ASX 200 up 0.32% at 7271.2.
European equities Monday closing. The DAX futures contract in Germany traded down 2.31% at 15132.06, CAC 40 futures down 1.74% at 6455.82 and the UK 100 futures contract in the U.K. down 0.86% at 6,903.92.
In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.78% at 33970.48. The S&P 500 is down 1.70% at 4357.72 and the Nasdaq 100 is up 0.40% at 15073.7, NYSE closes at 16168.16 down 1.78%.
In the Forex market, GBPUSD is up 0.13% at 1.36690. The USDJPY is up 0.12% at 109.508. The USDCHF flat at 0.92716. EURUSD up 0.08% at 1.17344, EUR/GBP up 0.11% at 0.85851. The USD/CNY flat at 6.4655 at the time of writing.
In the commodity market U.S. Gold futures down 0.09% at $1,762.90. Elsewhere, Silver futures up 0.21% to $22.29 per ounce, Platinum up 0.67% at $917.56 per ounce, and Palladium up 0.88% at $1900.50.
Crude Oil mix on Tuesday; Brent crude oil up 0.32% at $74.46 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.55% at $70.30.
In the Cryptocurrency Markets, BTCUSD at 42629.00 down 0.95%, Ethereum up 0.75% at 3002.72, Litecoin at 158.31 up 0.73%, at the time of writing.
TOP STOCKS TO WATCH OUT FOR TODAY:
American Airlines Group Inc. up 3.041% at $20.33, Delta Air Lines Inc. up 1.67% at $40.78, Pfizer Inc. up 0.706% to $44.20, Nucor Corp. down 7.637% to $96.88,
Ford Motor Co. down 5.388% to $12.82, Baidu Inc. down 4.753% at $154.50.
Economic news:
US: Spreads on 10-year U.S. interest rate swaps over Treasuries hit their widest in more than six months due in part to worries about the potential fallout of Chinese property group Evergrande’s financial troubles to the global economy.
In another sign of concern brewing in money markets, analysts cited three-month Libor, which rose to 12.5 basis points, a four-week peak, according to Refinitiv data, which may reflect some stress in the banking system.
Evergrande has been scrambling to raise funds to pay its many lenders, suppliers and investors. Regulators have warned that it’s $305 billion in liabilities could spark broader risks to China’s financial system if its debts are not stabilized.
Spreads of interest rate swaps are typically viewed as indicators of market risk, analysts said. A higher spread suggests market participants are willing to swap their risk exposures, suggesting overall risk aversion.
The spread on 10-year U.S. swaps over benchmark Treasuries rose to 5.25 basis points, from 4 basis points late on Friday. The spread was 3.25 basis points late Monday.
Eurozone: Australia Prime Minister Scott Morrison on Tuesday said any trade talks with the European Union will be worked through in “the weeks and months ahead” as he deals with the fallout of the decision to cancel a $40 billion submarine deal with France.
“It’s not an easy thing to do, to get an agreement with the European Union on trade, I think everyone understands that,” Morrison told reporters in New York, after reaching the United States for a meeting of the leaders of the Quad group.
Australia last week cancelled its order of a fleet of conventional submarines from France and said it would instead build at least eight nuclear-powered submarines with U.S. and British technology, prompting a recall by France of its envoys in the U.S. and Australia.
Important Data: US Building Permits (Aug) today at 8:30 this time estimated 1.6M, previously which was 1.63M. US Current Account (Q2) today at 8:30 this time estimated -191.0B, previously which was -195.7B. US API Weekly Crude Oil Stock at 16:30 previously which was -5.437M. JAPAN BOJ Press Conference today at 23:00.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.36754, TAKE PROFIT AT 1.36501 AND STOP LOSS AT 1.36934
EURUSD

TRADE SUGGESTION- SELL AT 1.1729, TAKE PROFIT AT 1.1700 AND STOP LOSS AT 1.1749
GBPJPY

TRADE SUGGESTION- SELL AT 149.767, TAKE PROFIT AT 149.283 AND STOP LOSS AT 150.413
CHFJPY

TRADE SUGGESTION- SELL AT 118.101, TAKE PROFIT AT 117.989 AND STOP LOSS AT 118.207
HANG SENG

TRADE SUGGESTION- SELL AT 24114.00 TAKE PROFIT AT 23886.00 AND STOP LOSS AT 24563.00
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 70.95 TAKE PROFIT AT 71.76 AND STOP LOSS AT 70.32
GOLD

TRADE SUGGESTION- SELL AT 1760.45, TAKE PROFIT AT 1752.07 AND STOP AT 1766.65
BTCUSD

TRADE SUGGESTION- SELL AT 42828.00 TAKE PROFIT AT 41285.51 AND STOP AT 43944.41

 

[CSFXNEWS]

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22SEP

/ Csfx analytics

TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 22 SEPTEMBER 2021​

Asia Pacific stocks were down on Wednesday morning. The Shanghai composite is up 0.30% at 3,624.52. Overall, the Singapore MSCI down 0.69% at 352.10. Over in Hong Kong, the Hang Seng Index down 0.18% at 24,132.00. In Japan, the Nikkei 225 down 0.84% at 29,510.00, while the Topix index is down 1.12% at 2032.5. South Korea’s Kospi up 0.33% to 3140.51. Australia S&P/ASX 200 up 0.48% at 7308.6.
European equities Tuesday closing. The DAX futures contract in Germany traded down 1.43% at 15348.53, CAC 40 futures up 1.50% at 6552.74 and the UK 100 futures contract in the U.K. up 1.12% at 6,980.99.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.15% at 33919.85. The S&P 500 down 0.08% at 4354.18 and the Nasdaq 100 up 0.10% at 15027.77, NYSE closes at 16184.50 up 0.10%.
In the Forex market, GBPUSD down 0.02% at 1.36539. The USDJPY up 0.31% at 109.54. The USDCHF up 0.06% at 0.9241. EURUSD up 0.01% at 1.17223, EUR/GBP up 0.09% at 0.85864. The USD/CNY flat at 6.4655 at the time of writing.
In the commodity market U.S. Gold futures up 0.25% at $1,778.25. Elsewhere, Silver futures up 1.58% to $22.805 per ounce, Platinum up 0.77% at $961.62 per ounce, and Palladium up 1.63% at $1937.50.
Crude Oil up on Wednesday; Brent crude oil up 0.96% at $75.40 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.07% at $70.35.
In the Cryptocurrency Markets, BTCUSD at 42195.11 up 3.94%, Ethereum up 4.24% at 2883.19, Litecoin at 152.12 up 2.50%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
AutoZone Inc. up 3.653% at $1643.07, Twitter Inc. up 3.003% at $62.78, Moderna Inc. up 2.53% to $434.04, Walt Disney Co. down 4.166% to $171.17, Discovery Inc. down 3.317% to $24.19, General Electric Co. down 2.996% at $96.82.
Economic news:
US: Democrats in the House of Representatives passed a bill on Tuesday to fund the U.S. government through Dec. 3 and suspend the nation’s borrowing limit until the end of 2022, sending it to the Senate where Republicans have vowed to block it.
The House vote was 220-211 along party lines. It was unclear how soon the Senate would act.
If Republicans stick by their refusal to support the measure in the Senate, Democrats will have to come up with a new strategy or quickly face the twin problems of a government in partial shutdown that is unable to pay its bills and the risk of a default for the first time in modern history.
House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer set the stage on Monday for a showdown with Republicans when they said they would combine spending and debt measures in one bill, despite Senate Republican leader Mitch McConnell’s vow to block an increase in the $28.4 trillion debt ceiling.
Eurozone: The British public’s expectations for inflation over the coming year have shot up by a record amount this month, raising the risk that the Bank of England will send a hawkish message soon, Citi said on Tuesday.
The Citi/YouGov monthly inflation expectations survey showed that public inflation expectations for the next 12 months jumped to 4.1% in September from 3.1% in August, the biggest monthly increase since the survey began more than 15 years ago.
Longer-term inflation expectations for the next five to 10 years rose to 3.8% in September from 3.5% in August.
“Today’s data, especially the movement in long-term expectations, suggest growing risks inflation expectations could become de-anchored to the upside. The sharp increase risks a hawkish response from the (Monetary Policy Committee) this week,” Citi said.
Important Data: US Existing Home Sales (Aug) today at 10:00 this time estimated 5.89M, previously which was 5.99M. US Crude Oil Inventories today at 10:30 this time estimated -2.44M, previously which was -6.422M. US Fed Interest Rate Decision at 14:00 this time estimated 0.25%, previously which was 0.25%. JAPAN Foreign Bonds Buying today at 19:50 previously which was 1761.4B
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.36412, TAKE PROFIT AT 1.36317 AND STOP LOSS AT 1.36611
EURUSD

TRADE SUGGESTION- SELL AT 1.17259, TAKE PROFIT AT 1.17039 AND STOP LOSS AT 1.17453
USDJPY

TRADE SUGGESTION- SELL AT 109.499, TAKE PROFIT AT 109.303 AND STOP LOSS AT 109.658
USDCHF

TRADE SUGGESTION- BUY AT 0.92357, TAKE PROFIT AT 0.92504 AND STOP LOSS AT 0.92280
S&P 500

TRADE SUGGESTION- SELL AT 4365.74 TAKE PROFIT AT 4347.47 AND STOP LOSS AT 4383.03
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 71.50 TAKE PROFIT AT 72.28 AND STOP LOSS AT 71.00
GOLD

TRADE SUGGESTION- SELL AT 1778.57, TAKE PROFIT AT 1767.04 AND STOP AT 1789.95
ETHEREUM

TRADE SUGGESTION- SELL AT 2952.40 TAKE PROFIT AT 2813.84 AND STOP AT 3046.01

 

[CSFXNEWS]

TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 23 SEPTEMBER 2021​

Asia Pacific stocks were mostly up on Thursday morning. The Shanghai Composite is up 0.18% at 3,634.81. Overall, the Singapore MSCI is up 1.62% at 358.10. Over in Hong Kong, the Hang Seng Index is up 0.90% at 24,386.00. In Japan, the Nikkei 225 is up 0.85% at 29,770.00, while the Topix index is flat at 2049.5. South Korea’s Kospi down 0.53% to 3123.72. Australia S&P/ASX 200 up 1.18% at 7382.9.
European equities Wednesday closing. The DAX futures contract in Germany traded up 1.03% at 15506.74, CAC 40 futures up 1.29% at 6637.01 and the UK 100 futures contract in the U.K. up 0.76% at 7,123.60.
In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.00% at 34258.33. The S&P 500 up 0.95% at 4395.63 and the Nasdaq 100 up 0.05% at 15204.70, NYSE closes at 16352.18 up 1.04%.
In the Forex market, GBPUSD up 0.20% at 1.36373. The USDJPY up 0.11% at 109.881. The USDCHF up 0.01% at 0.9256. EURUSD up 0.22% at 1.17127, EUR/GBP up 0.11% at 0.85884. The USD/CNY flat at 6.4655 at the time of writing.
In the commodity market U.S. Gold futures down 0.28% at $1,763.19. Elsewhere, Silver futures down 0.22% to $22.611 per ounce, Platinum up 0.51% at $999.62 per ounce, and Palladium up 0.27% at $2033.50.
Crude Oil up on Thursday; Brent crude oil up 0.62% at $76.34 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.36% at $70.60.
In the Cryptocurrency Markets, BTCUSD at 43787.75 up 0.45%, Ethereum up 0.79% at 3103.35, Litecoin at 159.49 down 1.27%, at the time of writing.
TOP STOCKS TO WATCH OUT FOR TODAY:
Marathon Oil Corp. up 5.346% at $12.02, Hess Corp. up 5.215% at $70.82,
FedEx Corp. down 9.121% to $229.08, Facebook down 3.992% to $343.21, Adobe Inc. down 3.067% to $626.08, United Parcel Service Inc. down 2.335% at $185.30.
Economic news:
US: U.S. Treasury Secretary Janet Yellen urged Paschal Donohoe, the finance minister of low-tax Ireland, to take a “once in a generation opportunity” for a global deal that would stop a race to the bottom on corporate tax rates, the Treasury said on Wednesday.
Despite pressure from Yellen and European Union officials, Ireland has not wavered in its opposition as an October deadline approaches to finalize a deal for a global minimum tax of at least 15% — well above Ireland’s 12.5% rate.
Donohoe said on Monday that Ireland was “still some bit away” from joining the Organisation for Economic Cooperation and Development (OECD) tax agreement as he waits to see whether a deeply divided U.S. Congress will accept the Biden administration’s proposed tax increases.
Yellen, during a call with Donohoe, “expressed appreciation for Ireland’s constructive participation” in the OECD tax reform talks, and the two ministers agreed to keep in close communication on the issue, the Treasury said in a statement.
Eurozone: Britain’s central bank looks set to keep interest rates steady later on Thursday as it approaches the end-point of its 895-billion-pound ($1.22 trillion) asset purchase programme and casts a wary eye over surging inflation pressures.
Investors will be keen to see if more Monetary Policy Committee (MPC) members join external member Michael Saunders who voted in August to halt the current year-long programme of asset purchases, which the Bank of England committed to last November.
The BoE is ahead of other major central banks in planning to stop quantitative easing by the end of this year, and half its policymakers judged in August that some preconditions for an interest rate rise had already been met.
Late on Wednesday, the U.S. Federal Reserve cleared the way to reduce its monthly bond purchases and signalled interest rate increases may follow more sooner than expected, with half of its policymakers projecting borrowing costs would rise in 2022.
In August the BoE revised up its forecast for inflation at the end of this year to 4%, reflecting higher energy prices and post-COVID-19 bottlenecks which have intensified this month.
Important Data: EURO ZONE Manufacturing PMI (Sep) today at 4:00 this time estimated 60.3, previously which was 61.4. UK Services PMI today at 4:30 previously which was 55.0. US Initial Jobless Claims at 8:30 this time estimated 320K, previously which was 332K. CANADA Core Retail Sales (MoM) (Jul) today at 08:30 this time estimated -1.5%, previously which was 4.7%.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.36495, TAKE PROFIT AT 1.36103 AND STOP LOSS AT 1.36866
EURUSD

TRADE SUGGESTION- SELL AT 1.17117, TAKE PROFIT AT 1.16629 AND STOP LOSS AT 1.17493
EURGBP

TRADE SUGGESTION- BUY AT 0.85817, TAKE PROFIT AT 0.85959 AND STOP LOSS AT 0.85744
EURJPY

TRADE SUGGESTION- SELL AT 128.784, TAKE PROFIT AT 128.570 AND STOP LOSS AT 129.094
HANG SENG

TRADE SUGGESTION- BUY AT 24438.00 TAKE PROFIT AT 24574 AND STOP LOSS AT 24175.00
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 72.20 TAKE PROFIT AT 73.10 AND STOP LOSS AT 71.75
GOLD

TRADE SUGGESTION- SELL AT 1764.02, TAKE PROFIT AT 1753.11 AND STOP AT 1771.49
BTCUSD

TRADE SUGGESTION- SELL AT 44060.00 TAKE PROFIT AT 43261.00 AND STOP AT 44951.12

 

[CSFXNEWS]

TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 24 SEPTEMBER 2021​

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is down 0.41% at 3,627.71. Overall, the Singapore MSCI down 0.36% at 356.60. Over in Hong Kong, the Hang Seng Index down 0.11% at 24,495.00. In Japan, the Nikkei 225 up 1.11% at 30,100.00, while the Topix index is up 1.29% at 2076.0. South Korea’s Kospi down 0.09% to 3124.73. Australia S&P/ASX 200 down 0.41% at 7340.3.
European equities Thursday closing. The DAX futures contract in Germany traded up 0.88% at 15643.97, CAC 40 futures up 0.98% at 6701.99 and the UK 100 futures contract in the U.K. down 0.07% at 7,078.36.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.48% at 34764.83. The S&P 500 up 1.21% at 4448.99 and the Nasdaq 100 down 0.12% at 15295.30, NYSE closes at 16657.26 up 1.32%.
In the Forex market, GBPUSD down 0.01% at 1.37174. The USDJPY up 0.19% at 110.532. The USDCHF up 0.19% at 0.9255. EURUSD down 0.02% at 1.17365, EUR/GBP up 0.01% at 0.85548. The USD/CNY up 0.02% at 6.4602 at the time of writing.
In the commodity market U.S. Gold futures up 0.71% at $1,755.31. Elsewhere, Silver futures up 1.06% to $22.721 per ounce, Platinum down 0.36% at $986.47 per ounce, and Palladium up 1.28% at $2008.47.
Crude Oil up on Friday; Brent crude oil up 0.32% at $77.48 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.16% at $70.71.
In the Cryptocurrency Markets, BTCUSD at 44432.63 down 1.05%, Ethereum down 1.88% at 3094.78, Litecoin at 161.17 down 1.73%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Marathon Oil Corp. up 5.907% at $12.73, Hess Corp. up 5.479% at $74.70,
Mosaic Co. up 5.395% to $34.97, NVIDIA Corp. up 2.466% to $224.82, Cisco Systems Inc. up 2.107% to $56.69, Microchip Technology Inc. up 2.279% at $165.17.
Economic news:
US: U.S. household wealth jumped to a new high of $141.7 trillion at the end of June, a report from the Federal Reserve showed on Thursday, boosted by stock market gains and a pandemic-induced real-estate boom.
Soaring equity markets fuelled the increase in overall wealth, adding $3.5 trillion to household assets in the second quarter – a period in which the S&P 500 saw a total return of just over 8.5% after factoring in reinvested dividends.
Rising real estate values added around $1.2 trillion, according to the U.S. central bank’s latest quarterly report https://www.federalreserve.gov/releases/z1 on household, business and government financial accounts.
Overall U.S. household wealth rose by $5.9 trillion from the first quarter.
The amount held in household savings deposits fell to $10.6 trillion in the second quarter from $10.8 trillion in the first quarter. Balances in checking accounts rose to $3.6 trillion from $3.3 trillion in the first quarter, the report showed.
Eurozone: Many of the drivers of a recent spike in euro zone inflation are temporary and due to fade in the next year, European Central Bank President Christine Lagarde said in an interview aired on CNBC on Friday.
Euro zone prices have been rebounding faster than expected as the economy reopened after pandemic-induced lockdowns, and several ECB policymakers think inflation will be close to, or even above, the ECB’s target of 2% next year.
Lagarde blamed much of the rise on supply disruptions and said inflation should stabilise next year.
“We think that there will be a return to much more stability in the year to come because many of the causes of higher prices are temporary,” Lagarde said.
“When you look at what’s causing it, a lot of it has to do with energy prices”.
She added “things will fall into place” when new sources of supply are found but cautioned higher energy prices might persist as they related to a transition away from fossil fuels.
Important Data: US New Home Sales (Aug) today at 10:00 this time estimated 714K, previously which was 708K. Germany Ifo Business Climate Index (Sep) today at 4:00 this time estimated 98.9, previously which was 99.4. CANADA Budget Balance (Jul) at 11:00 previously which was -12.71B. EURO ZONE ECB’s Lane Speaks today at 09:15.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.37203, TAKE PROFIT AT 1.36904 AND STOP LOSS AT 1.37478
EURUSD

TRADE SUGGESTION- SELL AT 1.17310, TAKE PROFIT AT 1.17203 AND STOP LOSS AT 1.17465
GBPJPY

TRADE SUGGESTION- BUY AT 151.662, TAKE PROFIT AT 151.957 AND STOP LOSS AT 151.379
CHFJPY

TRADE SUGGESTION- BUY AT 119.362, TAKE PROFIT AT 119.596 AND STOP LOSS AT 119.230
DOW JONES

TRADE SUGGESTION- SELL AT 34599.00 TAKE PROFIT AT 34499 AND STOP LOSS AT 34746.00
WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 73.32 TAKE PROFIT AT 72.86 AND STOP LOSS AT 73.85
GOLD

TRADE SUGGESTION- SELL AT 1758.71, TAKE PROFIT AT 1741.23 AND STOP AT 1765.63
ETHEREUM

TRADE SUGGESTION- SELL AT 3088.20 TAKE PROFIT AT 2966.83 AND STOP AT 3170.67

 

[CSFXNEWS]

TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 29 SEPTEMBER 2021​

Asia Pacific stocks were mostly down on Wednesday morning. The Shanghai composite is down 1.34% at 3,553.98. Overall, the Singapore MSCI down 0.46% at 354.40. Over in Hong Kong, the Hang Seng Index up 0.40% at 24,580.00. In Japan, the Nikkei 225 down 1.34% at 29,520.00, while the Topix index is down 1.00% at 2035.0. South Korea’s Kospi down 1.28% to 3058.36. Australia S&P/ASX 200 down 1.29% at 7181.8.
European equities Tuesday closing. The DAX futures contract in Germany traded down 2.09% at 15248.56, CAC 40 futures down 2.17% at 6506.51 and the UK 100 futures contract in the U.K. down 0.50% at 7,028.09.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.63% at 34300.00. The S&P 500 down 2.04% at 4352.64 and the Nasdaq 100 up 0.44% at 14852.00, NYSE closes at 16328.78 down 1.63%.
In the Forex market, GBPUSD up 0.08% at 1.3544. The USDJPY down 0.02% at 111.465. The USDCHF up 0.01% at 0.9293. EURUSD down 0.02% at 1.16817, EUR/GBP down 0.03% at 0.86242. The USD/CNY up 0.07% at 6.4643 at the time of writing.
In the commodity market U.S. Gold futures up 0.25% at $1,738.61. Elsewhere, Silver futures down 0.41% to $22.332 per ounce, Platinum down 0.08% at $963.20 per ounce, and Palladium up 1.01% at $1897.50.
Crude Oil down on Wednesday; Brent crude oil down 0.60% at $77.69 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.20% at $75.95.
In the Cryptocurrency Markets, BTCUSD at 42183.54 up 2.76%, Ethereum up 3.41% at 2903.66, Litecoin at 144.78 up 2.97%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Electronic Arts. up 1.356% at $133.77, Hewlett Packard Enterprise Co. up 1.286% at $14.18, MSCI Inc. down 6.401% to $597.80, Moderna Inc. down 6.401% to $597.80, ETSY Inc. down 5.948% to $212.35, IHS Markit Ltd. down 5.047% at $116.47.
Economic news:
US: U.S. Treasury Secretary Janet Yellen said on Tuesday she is looking for G20 countries to reach political agreement on a global minimum corporate tax deal at their summit in October and has not ruled out a rate higher than 15%.
Yellen, speaking to the National Association for Business Economics, said the Senate Finance Committee is looking at a “slightly higher” overseas minimum corporate tax rate than the 16.5% passed by the House of Representatives Ways and Means Committee.
“We’ll see where it all shakes out, but my hope is that when reconciliation (legislation) passes, we will come into compliance with this regime, and we’re looking for political agreement to be achieved at the G20 summit at the end of October, and then countries will quickly put this into place,” Yellen said.
Some 134 countries agreed over the summer to support a global minimum tax of at least 15%, but low-tax Ireland has held off on endorsing the deal as it waits to see if the U.S. Congress accepts the Biden administration’s proposed tax increases on corporations and wealthy Americans.
Eurozone: The European Union and China must continue engaging on a number of issues despite differences, the bloc’s foreign policy chief Josep Borrell told his Chinese counterpart Wang Yi in a video call on Tuesday, according to an EU statement.
“The High Representative noted that while disagreements still persisted, the EU and China needed to continue engaging intensively in a number of important areas,” the EU said, adding Borrell underscored the inclusive and cooperative character of Europe’s Indo-Pacific strategy.
China’s foreign minister Wang said that both sides must continue the trend of increased engagement in an effort to boost political trust and manage their differences, according to a statement on the ministry website.
The EU is taking a softer stance on China, one of its most important trade partners, than the United States which has struck a new security deal (AUKUS) with Britain and Australia that is widely seen as designed to counter China’s growing assertiveness in the Pacific.
Important Data: US Crude Oil Inventories today at 10:30 this time estimated -1.652M, previously which was -3.481M. US Crude Oil Inventories today at 10:00 this time estimated 1.4%, previously which was -1.8%. JAPAN Industrial Production (MoM) (Aug) at 19:40 this time estimated -0.5%, previously which was -1.5%. AUSTRALIA Private Sector Credit (MoM) (Aug) today at 21:30 previously which was 0.7%.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.35489, TAKE PROFIT AT 1.35301 AND STOP LOSS AT 1.35583
EURUSD

TRADE SUGGESTION- SELL AT 1.16775, TAKE PROFIT AT 1.16604 AND STOP LOSS AT 1.16960
GBPJPY

TRADE SUGGESTION- SELL AT 150.938, TAKE PROFIT AT 150.522 AND STOP LOSS AT 151.351
CHFJPY

TRADE SUGGESTION- BUY AT 119.858, TAKE PROFIT AT 120.380 AND STOP LOSS AT 119.641
NASDAQ 100

TRADE SUGGESTION- SELL AT 14848.24 TAKE PROFIT AT 14772.51 AND STOP LOSS AT 14928.35
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 73.79 TAKE PROFIT AT 74.82 AND STOP LOSS AT 72.92
GOLD

TRADE SUGGESTION- SELL AT 1736.99, TAKE PROFIT AT 1730.90 AND STOP AT 1752.32
BTC USD

TRADE SUGGESTION- SELL AT 42439.00 TAKE PROFIT AT 40738.43 AND STOP AT 44046.17