Daily Technical Analysis Report By Capital Street Fx

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 06 MAY 2021​

ASIAN MARKET:-
Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.16% to 3,441.86. Hong Kong’s Hang Seng Index was up about 0.20% to 28,493.75.
Japan’s benchmark Nikkei average. Nikkei 225 is trading up 1.67 per cent at 29,290.63 on Thursday, while the Australian Index S&P / ASX 200 fell 0.65 per cent to 7,049.71. South Korea’s Kospi was up by 0.61% to 3,167.98.
EUROPEAN MARKET:-
The FTSE MIB climbed up by 2.03% to 24,463.46 In the cash markets, the DAX futures Germany was trading 2.12% lower at 14,874.25. CAC 40 futures in France climbed down by 1.40% to 6,339.57, while the FTSE 100 futures in the U.K rose by 1.68% to 7,039.97, at the time of writing.
US MARKET:-
In the U.S. on Wall Street, the Dow Jones Industrial Average closed 0.29% up at 34,230.38 the S&P 500 was up 0.07 to 4,167.29 and the Nasdaq 100 was down 0.37% at 13,582.03.
FOREX MARKET:-
In the Forex market, GBPUSD rose 0.04% at 1.3908. The USDJPY was up 0.14% at 109.33. The USDCHF was up 0.10% at 0.9137. EURUSD was up 0.02% at 1.2006, EUR/GBP was up 0.02% at 0.8634, at the time of writing.
COMMODITY MARKET;-
In the commodity market, U.S. Gold futures rose 0.33% at $1,790.85. Elsewhere, Silver futures rose 0.57% to $26.672 per ounce, Platinum fell 0.10% at $1,228.05 per ounce, and Palladium was up 0.30% at $2,981.50.
Brent crude oil was up 0.38% to $69.22 barrel while U.S. West Texas Intermediate (CLc1) rose 0.24% at $69.21.
CRYPTO-CURRENCY MARKET:-
In the Cryptocurrency Markets, BTCUSD rose 4.68% at $57,235.9 , Ethereum at 3,458.41 up by 5.45%, Litecoin at 336.791 up 1.13%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:

Unilever up 0.42 at 4,221.5 Apple Inc. up 0.20% at $128.10 , Amazon.com down 1.25 % at $ 3,270.31, TESLA Inc down 0.39% at $670.90, SAP down 0.81% at 115.720, Microsoft down 0.53% at $246.18 , Daimler down 0.30% at 72.195.
Economic news:
USA MARKET

The White House has signaled privately to lawmakers and stakeholders in recent weeks that it supports taxpayer subsidies to keep nuclear facilities from closing and making it harder to meet U.S. climate goals, three sources familiar with the discussions told Reuters. New subsidies, in the form of “production tax credits,” would likely be swept into President Joe Biden’s multi-trillion-dollar legislative effort to invest in infrastructure and jobs, the sources said.
Wind and solar power producers already get these tax rebates based on levels of energy they generate. Biden wants the U.S. power industry to be emissions free by 2035. He is asking Congress to extend or create tax credits aimed at wind, solar and battery manufacturing as part of his $2.3 trillion American Jobs Plan.
The United States leads the world with more than 90 nuclear reactors, the country’s top source of emissions-free power generation. Yet aging plants have been closing due to rising security costs and competition from plentiful natural gas, wind and solar power, which are becoming less pricey.
“There’s a deepening understanding within the administration that it needs nuclear to meet its zero-emission goals,” said a source engaged in the talks and familiar with the White House thinking.
The White House had no comment. New York state’s Indian Point nuclear power plant, owned by Entergy Corp , closed its last reactor on April 30. In Illinois, Exelon Corp has said it might close four reactors at two plants by November, if the state does not implement subsidies.Nuclear plants provide thousands of union jobs that pay some of the highest salaries in the energy business. Biden’s allies in building trades unions have lobbied for the production tax credits.
The credits also have the support of Democratic Senator Joe Manchin from the energy-rich state of West Virginia, two of the sources said. He holds outsized power in the evenly divided Senate because he can block his party’s agenda.
EUROZONE:-

The Bank of England will say on Thursday that Britain’s economy is heading for a much stronger recovery this year than it previously expected and it might start to slow its pandemic emergency support.
The BoE forecast in February that the world’s fifth-biggest economy would grow by 5% in 2021, having slumped by 10% in 2020.
That was a bigger hit than in most other European economies after Prime Minister Boris Johnson was slower to impose a coronavirus lockdown and had to keep it in place for longer in an economy heavily reliant on face-to-face consumer services.
But many economists say Britain is now set to grow by more than 7% this year, boosted by its fast COVID-19 vaccinations.
The BoE will announce its latest forecasts at 1100 GMT when it is also expected to keep its benchmark interest rate and its bond-buying programme unchanged, for now.
“There’s a growing sense that the UK is finally on the way out of the pandemic, and with that comes an increased focus on the Bank of England’s future tightening plans,” analysts at ING said in a note to clients. “Indeed, we think the Bank may announce some tapering of its quantitative easing programme.”
The BoE is spending 4.4 billion pounds ($6.12 billion) a week on its bond-buying programme, having cut the benchmark rate to an all-time low of 0.1% in March last year.
That pace might slow to 3.2 billion pounds a week to allow the quantitative easing programme, currently capped at 895 billion-pounds, to last until the end of the year, analysts at Bank of America said.
Such a move would represent a moderate step towards the moment when the BoE begins to reverse its emergency stimulus.
Most economists polled by Reuters last month pencilled in a first rate hike only in 2023.
On Wednesday, investors were pricing in a small 15 basis-point increase in rates by September of next year.
EARLY SIGNAL?
“The Bank of England remains a long way off tightening monetary policy, but could be one of the first central banks to signal it’s thinking about it,” Shamik Dhar, chief economist at BNY Mellon Investment Management.
The Bank of Canada last month said it could start to raise rates by late 2022 and it pared back its bond-buying.
The BoE is treading more cautiously. It said in February it was starting to work on its messaging about how it might tighten monetary policy in the future.
Governor Andrew Bailey has signalled the BoE might start to shrink its massive bond stockpile earlier than it had outlined under his predecessor Mark Carney. That 2018 scenario foresaw no bond sales until the BoE’s benchmark reached 1.5%, a distant prospect now.
Despite the revival of Britain’s economy – retailers and restaurants reopened last month and most restrictions are due to be lifted by the end of June – a big test awaits in September.
That is when finance minister Rishi Sunak is due to finish phasing out a job support programme, the centrepiece of a public spending splurge that has left Britain with record peacetime borrowing.
With unemployment likely to rise, analysts at Citi expect the BoE to resort to a further 50 billion-pound increase to its bond-buying programme in late 2021.
The BoE is also keeping a close eye on how frictions on trade with the European Union weigh on growth. And an election for Scotland’s devolved parliament on Thursday could strengthen calls from nationalists for a new independence referendum that would create fresh political uncertainty for Britain’s economy.
TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 07 MAY 2021​

ASIAN MARKET:-
Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.48% to 3,424.86. Hong Kong’s Hang Seng Index was up about 0.23% to 28,658.75.
Japan’s benchmark Nikkei average. Nikkei 225 is trading up 0.10 per cent at 29,360.63 on Friday, while the Australian Index S&P / ASX 200 rose 0.20 per cent to 7,075.71. South Korea’s Kospi was up by 0.64% to 3,199.98.
EUROPEAN MARKET:-
The FTSE MIB climbed up by 0.13% to 24,495.46 In the cash markets, the DAX futures Germany was trading 0.17% higher at 15,196.25. CAC 40 futures in France climbed up by 0.28% to 6,357.57, while the FTSE 100 futures in the U.K rose by 0.52% to 7,076.97, at the time of writing.
US MARKET:-
In the U.S. on Wall Street, the Dow Jones Industrial Average closed 0.93% up at 34,548.38 the S&P 500 was up 0.82% to 4,201.56 and the Nasdaq 100 was up 0.37% at 13,632.03.
FOREX MARKET:-
In the Forex market, GBPUSD rose 0.12% at 1.3902. The USDJPY was up 0.09% at 109.19. The USDCHF was up 0.11% at 0.9080. EURUSD was down 0.06% at 1.2058, EUR/GBP was down 0.16% at 0.8673, at the time of writing.
COMMODITY MARKET;-
In the commodity market, U.S. Gold futures rose 0.18% at $1,819.85. Elsewhere, Silver futures fell 0.21% to $27.418 per ounce, Platinum fell 0.32% at $1,253.05 per ounce, and Palladium was up 0.55% at $2,964.50.
Brent crude oil was up 0.51% to $68.47 barrel while U.S. West Texas Intermediate (CLc1) rose 0.51% at $65.06.
CRYPTO-CURRENCY MARKET:-
In the Cryptocurrency Markets, BTCUSD fell 0.75% at $56,129.9 , Ethereum at 3,444.41 up by 1.60%, Litecoin at 365.791 up 11.36%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:

Unilever up 1.97 at 4,304.5 Apple Inc. up 1.28% at $129.74 , Amazon.com up 1.10 % at $ 3,306.31, TESLA Inc up 1.10% at $663.54, SAP down 0.81% at 115.720, Microsoft down 0.53% at $246.18 , Barclays up 0.19% at 177.10.
Economic news:
USA MARKET

U.S. President Joe Biden said a corporate tax rate between 25% and 28% could help pay for badly needed infrastructure, suggesting he could accept a lower rate than what he has proposed in his search for Republican support for the funding.
“The way I can pay for this, is making sure that the largest companies don’t pay zero, and reducing the (2017 corporate) tax cut to between 25 and 28” percent, Biden said during a visit to Lake Charles, Louisiana.
In his $2.3 trillion infrastructure plan, the Democratic president initially proposed raising the corporate tax rate from 21% to 28%. Tax experts and congressional aides told Reuters in April that a 25% rate would be a likely compromise.
“What I’m proposing is badly needed” and will be paid for, said Biden, dismissing the “trickle down” theory that helping businesses and the wealthy will benefit those farther down the economic ladder. “We’ve got to build from the bottom up and the middle out.”
Behind Biden as he spoke was the Calcasieu River Bridge, a structure built in 1952, which he said was 20 years past its expiration date. Bumper-to-bumper traffic crawled across it.
“That’s a recipe for disaster,” Biden said of the crowded bridge.
Later, he stopped in New Orleans to tour the Sewerage & Water Board’s Carrollton Water Plant and discuss the need for spending on water infrastructure.
The U.S. corporate tax rate dropped to 21% from 35% after the 2017 tax cut pushed by then-President Donald Trump and his fellow Republicans, but many big U.S. companies pay much less.
Biden’s visit to storm-battered Louisiana, which has backed Republican presidential candidates for the past 20 years, is part of his “Getting America Back on Track Tour” to promote a $2.25 trillion infrastructure spending plan and a $1.8 billion education and childcare proposal.
His push to spend more federal money on schools, roads, job training and other public works, and to tax the wealthiest Americans and companies to pay for it, is popular with voters of both parties. But the plans face stiff opposition from Republican lawmakers.
EUROZONE:-

The French government will take a decision in September on whether to top up its 100 billion euro ($120 billion) economic stimulus plan, French Finance Minister Bruno Le Maire said on Thursday.
President Emmanuel Macron eluded last week to a “second period of recovery” that would see investment accelerated, triggering speculation in the press and among economists that a second round of stimulus was in the pipeline.
His European Affairs Minister Clement Beaune, formerly a close advisor to Macron, has been even more explicit about calling for a second Europe-wide stimulus plan.
However, Le Maire has been more circumspect and had so far emphasised that the most important thing was to ensure that already budgeted stimulus projects get rolled out.
“Time for decisions will come in September. In September, we will see what sort of economic situation France and Europe are in and we will see whether some budgets need extra spending because the economic situation merits it,” Le Maire told a news conference.
France has already disbursed 30 billion euros from its recovery plan since it was launched last September with spending focused on a range of public investments in environmentally friendly projects and measures to boost French firms competitiveness.
Le Maire said that the money had helped France see stronger economic growth than most other euro zone economies in the first quarter when the French economy grew 0.4% despite various COVID restrictions.
He added that that gave him confidence that a growth target of 5% for this year could be met.
TECHNICAL SUMMARY

 

[CSFXNEWS]

WEEKLY GLOBAL MARKETS TECHNICAL ANALYSIS REPORT – 09 MAY 2021​

Germany Manufacturing Purchasing Managers Index (PMI)
WHEN: WHAT IT INFLUENCES:
3rd May 2021 EUR and its subsequent
pairs
WHAT’S HAPPENING:
The German Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
U.S. Fed Chair Powell Speaks
WHEN: WHAT IT INFLUENCES:
3rd MAY 2021 USD and its subsequent
pairs
WHAT’S HAPPENING:
Federal Reserve Chair Jerome Powell (Feb. 2018 – Feb. 2022) is to speak. As head of the Fed, which controls short term interest rates, he has more influence over the U.S. dollar’s value than any other person. Traders closely watch his speeches as they are often used to drop hints regarding future monetary policy.
U.K. Manufacturing Purchasing Managers Index (PMI)
WHEN: WHAT IT INFLUENCES:
4th May 2021 GBP and its subsequent
pairs
WHAT’S HAPPENING:
The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.
Gold Has Best Week Since October on U.S. Payrolls Shock
WHAT IT HAD INFLUENCED:
GOLD
WHAT HAPPENED:
Gold had its best week in six months as shockingly low U.S. payrolls numbers for April, coupled with the yellow metal’s belated catch up to inflationary trends, gave it a gain of 3.5% on the week.
Price-wise, gold was nearing peaks last seen 12 weeks ago, closing in on the $1,850 per ounce level, that could set up a return to $1,900 and ultimately the $2,000 record highs attained in August.
“Gold’s short-term momentum could make a run towards the $1,857 level, which could be followed by a move towards the $1,925 resistance level,” said Ed Moya, head of research for Americas at online trading platform OANDA
Benchmark Gold Futures on New York’s Comex settled up $15.60, or 0.9%, at $1,831.30 an ounce. The session high was $1,844.40. For the week, gold futures showed a 3.2% gain, the highest since the week ended Oct. 29.
The spot price of gold rose by $16.35, or 0.9%, to $1,831.53, after a peak at $1,843.36. For the week, spot gold printed a much higher gain of 3.5%.
Oil Gains for 2nd Week, But Prices Range-Bound Again
WHAT IT HAD INFLUENCED:
BRENT & WTI CRUDE OIL
WHAT HAPPENED:
Oil put in a second week of gains as crude prices reentered range-bound trading on Friday on concerns about slowing U.S. jobs growth and the Covid situation in No. 3 energy consuming nation India.
New York-traded WTI, the benchmark for U.S. crude, settled up 19 cents, or 0.3%, at $64.90 per barrel. WTI hit an eight-week high of $66.75 on Wednesday, before snapping a four-day rally. For the week, it showed a 2% gain.
London-traded Brent, the global benchmark for crude, also settled up 19 cents, or 0.3%, at $68.28. Brent hit an eight-week high of $69.94 on Wednesday, before losing its momentum. For the week, it was up 1.5%.
“Oil prices might have a positive second consecutive week, but it is nothing to get energy traders excited that oil will break away from its tightening trading range,” said Ed Moya, head of America’s research at online trading platform OANDA.
Pessimism grew again on the outlook for oil after the Labor Department reported on Friday that the U.S. unemployment rate rose to 6.1 percent in April as the country added a sharply lower-than-forecast 266,000 jobs in a pandemic-suppressed market.
Economists had expected as many as 1 million new U.S. jobs for last month, building on to the March gains of 916,000. That made what the Labor Department reported disappointing to many.
Expectations of runaway U.S. inflation in an economy sprinting from Covid-19 had fueled a rally across commodities since the start of the year, despite Fed attempts to assuage concerns that rising price pressures were only temporary.
5 KEY EVENTS TO WATCH OUT
Australia Retail Sales MoM
WHEN: WHAT IT INFLUENCES:
9th May 2021 AUD and its subsequent pairs
WHAT’S HAPPENING:
Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.
Germany ZEW Economic Sentiment
WHEN: WHAT IT INFLUENCES:
11th May 2021 EUR and its subsequent pairs
WHAT’S HAPPENING:
The German Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment Index gauges the six-month economic outlook. A level above zero indicates optimism; below indicates pessimism. The reading is compiled from a survey of about 350 German institutional investors and analysts.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
Bank of England Governor Bailey Speaks
WHEN: WHAT IT INFLUENCES:
11th May 2021 GBP and its subsequent
pairs
WHAT’S HAPPENING:
Bank of England (BOE) Governor Andrew Bailey (Mar 2020 – Mar 2028) is to speak. As head of the BOE’s Monetary Policy Committee (MPC) which controls short term interest rates, Bailey has more influence over sterling’s value than any other person. Traders scrutinize his public engagements for clues regarding future monetary policy. His comments may spark a short-term positive or negative trend.
U.S. Core Consumer Price Index (CPI) MoM
WHEN: WHAT IT INFLUENCES:
12th May 2021 USD and its subsequent
Pairs
WHAT’S HAPPENING:
The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD
European Central Bank Monetary Policy Statement
WHEN: WHAT IT INFLUENCES:
14th May 2021 EUR and its subsequent
pairs
WHAT’S HAPPENING:
European Central Bank Monetary Policy Statement contains the outcome of the ECB’s decision on asset purchases and commentary about the economic conditions that influenced their decision.
EQUITIES IN THE COMING WEEK
1. Panasonic(0QYR) to announce its Quarterly Results on 10th May 2021, EPS estimated to 9.24 per share while revenue estimated 1752.15B
2. Walt Disney(DIS) to announce its Quarterly Results on 13th May 2021, EPS estimated to 0.2707 per share while revenue estimated 15.85B.
3.United Malt (UMG) to announce its Quarterly Results on 13th May 2021, EPS estimated to 12.00 per share while revenue estimated .630.6M
4. Burberry Group(BRBY) to announce its Quarterly Results on 13th May 2021, EPS estimated to 42.71 per share while revenue estimated 1.391M.
5. Sage (SGE) to announce its Quarterly Results on 14th May 2021, EPS estimated to 11.79 per share while revenue estimated 925.23M.
TOP CURRENCIES IN THE UPCOMING WEEK
USD/JPY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 11 MAY 2021​

ASIAN MARKET:-
Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.27% to 3,418.86. Hong Kong’s Hang Seng Index was down about 2.26% to 27,944.75.
Japan’s benchmark Nikkei average. Nikkei 225 is trading down 3.00 per cent at 28,623.63 on Tuesday , while the Australian Index S&P / ASX 200 fell 1.11 per cent to 7,093.71. South Korea’s Kospi was down by 1.41% to 3,204.98.
EUROPEAN MARKET:-
The FTSE MIB climbed up by 0.78% to 24,802.46 In the cash markets, the DAX futures Germany was trading 0.02% higher at 15,400.25. CAC 40 futures in France climbed up by 0.01% to 6,385.57, while the FTSE 100 futures in the U.K was down by 0.08% to 7,123.97, at the time of writing.
US MARKET:-
In the U.S. on Wall Street, the Dow Jones Industrial Average closed 0.10% down at 34,742.38 the S&P 500 was down 1.04% to 4,188.56 and the Nasdaq 100 was down 0.88% at 13,742.03.
FOREX MARKET:-
In the Forex market, GBPUSD rose 0.06% at 1.4129. The USDJPY was up 0.09% at 108.88. The USDCHF was down 0.06% at 0.9006. EURUSD was up 0.11% at 1.2142, EUR/GBP was up 0.10% at 0.8594, at the time of writing.
COMMODITY MARKET;-
In the commodity market, U.S. Gold futures fell 0.06% at $1,836.85. Elsewhere, Silver futures fell 0.21% to $27.438 per ounce, Platinum fell 0.20% at $1,249.05 per ounce, and Palladium was down 0.19% at $2,956.50.
Brent crude oil was down 0.76% to $6.80 barrel while U.S. West Texas Intermediate (CLc1) fell 0.72% at $64.46.
CRYPTO-CURRENCY MARKET:-
In the Cryptocurrency Markets, BTCUSD fell 6.80% at $55,389.9 , Ethereum at 3,904.41 down by 4.64%, Litecoin at 356.791 down 11.39%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:

Unilever up 0.13% at 4,278.5 Apple Inc. down 2.58% at $126.85 , Amazon.com down 3.07 % at $ 3,190.49, TESLA Inc down 6.44% at $629.04, Barclays up 2.16% at 185.46, Microsoft down 2.09% at $247.18 , Adidas up 2.31% at 287.65.
Economic news:
USA MARKET

President Joe Biden on Monday urged U.S. companies to help workers gain access to vaccines and to raise their pay while touting an infusion of $350 billion in federal aid to state and local governments, saying that will help more parents obtain child care and return to work.
Biden’s remarks were designed to address ways employers can hire more workers and to help more people take jobs.
The Labor Department reported on Friday the economy added 266,000 jobs in April, short of the million jobs that most forecasters had expected. Republicans have blamed enhanced unemployment benefits for the numbers, saying the benefits discourage people from returning to work.
“My expectation is that, as our economy comes back, these companies will provide fair wages and safe work environments,” Biden told reporters at the White House. By doing so, he said, the companies will “find plenty of workers, and we’re all going to come out of this together better than before.”
Biden also defended himself against critics who have said expanded unemployment benefits offered in the COVID-19 relief bill passed in March are keeping Americans from taking new jobs.
He said the administration will remind U.S. states this week that any unemployed American offered a comparable job must take it or risk losing unemployment benefits.
Biden, a Democrat, said he will direct the U.S. Labor Department to work with states to reinstate requirements that those receiving unemployment benefits must demonstrate they are actively looking for work.
He said school closures, child care constraints and fears of contracting the coronavirus had hindered job creation last month.
EUROZONE:-

The European Union’s huge post-pandemic recovery fund could become a more permanent feature if it is successful in firing up growth and fostering a greener and more digital economy, the European Commission’s top economic officials said on Monday.
The 27 EU nations made an unprecedented agreement last year to jointly borrow 750 billion euros for a fund to help fight the economic slump caused by COVID-19 and address the challenges of climate change.
To overcome the opposition of the EU’s frugal northern states, which have long opposed joint borrowing for fear of financing less strict fiscal policy in the south, the scheme was clearly described as an extraordinary, one-off measure.
But many economists saw it as a foot in the door for more regular joint debt issuance by the AAA-rated EU in future and top Commission officials echoed that view before the European Parliament’s economic and monetary affairs committee.
“The more successful we are in the implementation of this facility the more scope there will be for discussions on having a permanent instrument, probably of a similar nature,” Commission Vice President Valdis Dombrovskis said.
The borrowing, to be done by the executive Commission in the name of all EU countries, is to be repaid over 30 years from new taxes called new own resources. These have yet to be yet to be agreed but could include levies on the digital economy, on CO2 emissions or on imports of goods made using dirty technologies.
“It will have permanent consequences on financial markets because we have this European-denominated debt to be repaid in the next 30 years,” European Economic Commissioner Paolo Gentiloni told the same committee.
“In the future — if this instrument works and we are able to agree on the new own resources to repay this common debt, I think we can have a serious discussion on further initiatives.
“But what is crucial for these further initiatives, is to make this one work and be repaid with new own resources,” Gentiloni said.
For the Commission to start borrowing the money on markets, all EU national parliaments must ratify a decision to increase national guarantees to repay it, in case the new taxes fail to materialise. Eight have yet to do so.
To get the EU cash, which will come partly as grants and partly through ultra-cheap loans, each government must submit a plan of how it intends to spend its share which must conform with EU-agreed rules. So far 14 countries have sent in plans and Dombrovskis said the rest could trickle in by early June.
The plans must include not just spending, but also reforms to make economies ready for the digital age and without CO2 emissions. Dombrovskis said that after initial problems with the plans, they in general showed a good balance.
The Commission has two months to assess each plan and EU finance ministers then have one month to endorse a Commission recommendation on it. Dombrovskis said everything was on track for first disbursements from the scheme to be made in July.
TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 12 MAY 2021​

ASIAN MARKET:-
Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.01% to 3,441.86. Hong Kong’s Hang Seng Index was up about 0.13% to 27,997.75.
Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.76 per cent at 28,397.63 on Wednesday , while the Australian Index S&P / ASX 200 fell 0.58 percent to 7,055.71. South Korea’s Kospi was down by 1.29% to 3,168.98.
EUROPEAN MARKET:-
The FTSE MIB climbed down by 1.64% to 24,396.46 In the cash markets, the DAX futures Germany was trading 1.82% lower at 15,119.25. CAC 40 futures in France climbed up by 0.01% to 6,385.57, while the FTSE 100 futures in the U.K was down by 2.47% to 6,947.97, at the time of writing.
US MARKET:-
In the U.S. on Wall Street, the Dow Jones Industrial Average closed 1.36% down at 34,269.38 the S&P 500 was down 0.87% to 4,152.56 and the Nasdaq 100 was down 0.09% at 13,389.03.
FOREX MARKET:-
In the Forex market, GBPUSD was down 0.18% at 1.4116. The USDJPY was up 0.23% at 108.86. The USDCHF was up 0.23% at 0.9058. EURUSD was down 0.23% at 1.2118, EUR/GBP was up 0.02% at 0.8589, at the time of writing.
COMMODITY MARKET;-
In the commodity market, U.S. Gold futures fell 0.45% at $1,827.85. Elsewhere, Silver futures fell 0.77% to $27.453 per ounce, Platinum fell 0.88% at $1,229.05 per ounce, and Palladium was up 0.27% at $2,946.50.
Brent crude oil was down 0.44% to $68.25 barrel while U.S. West Texas Intermediate (CLc1) fell 0.37% at $65.0 6.
CRYPTO-CURRENCY MARKET:-
In the Cryptocurrency Markets, BTCUSD rose 4.87% at $57,857.9 , Ethereum at 4,334.41 up by 12.42%, Litecoin at 391.582 up 11.18%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:

Daimler down 2.42% at 72.100. Apple Inc. down 0.74% at $126.85 , Amazon.com up 1.05 % at $ 3,223.49, TESLA Inc down 1.88% at $617.04, SAP down 2.08% at 113.46, Microsoft down 0.38% at $246.18 , Adidas down 1.22% at 284.65.
Economic news:
USA MARKET

The U.S. Senate voted on Tuesday to repeal a regulation introduced during former President Donald Trump’s administration that Democrats say allows predatory lenders to skirt state consumer protections.
Lawmakers voted 52-47 to repeal the “true lender” rule, marking the first time Democrats have rolled back a Trump-era financial rule using the Congressional Review Act, a 1996 law that gives Congress the ability to rescind recently enacted regulations.
The White House said in a statement it supported the resolution repealing the rule, which now heads to the Democratic-led House, where it is also expected to pass.
The targeted rule, written last year by the Office of the Comptroller of the Currency, attempted to clarify whether state or federal laws applied when lenders like fintechs partnered with traditional banks.
But Democrats and consumer advocates warned it would allow predatory lenders to skirt state usury laws and interest rate caps by partnering with national banks that enjoy more lax federal rules.
The OCC said when it drafted the rule that it was aiming to provide legal certainty to lenders as to whether state or federal laws applied to their business.
The regulator determined that if the bank is named as the lender in the loan agreement, then the relevant bank rules apply, meaning any partnerships with national banks would operate under federal rules, which generally are more relaxed on lending restrictions.
EUROZONE:-

The European Commission expects to finish work soon on a COVID-19 certificate that could allow citizens to travel more easily this summer in the 27-nation bloc, the EU executive said on Tuesday after a meeting with European affairs ministers.
The pass would allow those vaccinated, recovered from COVID-19 or with negative test results to cross borders in a union where restrictions on movement have weighed heavily on the travel and tourism industry for more than a year.
“This is a priority for our citizens and therefore I believe we will deliver (on the certificate) before summer,” Commission Vice-President Maros Sefcovic said after the meeting in Brussels. He said he expected a full roll-out by the summer.
A two week pilot project to test the technology a few countries at a time began on Monday, the EU Commission said.
But EU governments, the European Parliament and the Commission must agree on the design of the certificate. They must also decide whether faster, but less accurate, COVID-19 antigen tests can be included.
Sefcovic called on all sides to work together to complete the legislative, as well as the technical, work as quickly as possible, noting the complexity of the job.
“For the certificate to work, it has to be on smartphones, it has to be interoperable, possible to check it. So it is quite the task to do it at the pan-European level”, Sefcovic said.
The European Parliament says no one will be obliged to use the EU certificate and it must not be considered a vaccine passport.
Sefcovic said the Commission was working closely to inform the United States, the World Health Organization and others about its progress to allow the certificate to be used on a wider scale.
As the vaccination campaign in the EU is gaining speed with 200 million jabs delivered and COVID-19 infections rates falling, Europe is starting to reopen cities and beaches, raising hopes for the summer holiday season.
German Europe Minister Michael Roth called for a swift agreement.
“This is not only important for countries depending on tourism but for all of us: It is … a clear signal for freedom of movement and for mobility in the European Union,” Roth said in Brussels.
TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 13 MAY 2021​

ASIAN MARKET:-
Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.74% to 3,437.86. Hong Kong’s Hang Seng Index was down about 0.80% to 27,961.75.
Japan’s benchmark Nikkei average. Nikkei 225 is trading down 1.55 per cent at 27,705.63 on Thursday , while the Australian Index S&P / ASX 200 fell 0.54 percent to 7,006.71. South Korea’s Kospi was down by 1.29% to 3,141.98.
EUROPEAN MARKET:-
The FTSE MIB climbed up by 0.23% to 24,452.46. In the cash markets, the DAX futures Germany was trading 0.20% higher at 15,150.25. CAC 40 futures in France climbed up by 0.19% to 6,279.57, while the FTSE 100 futures in the U.K was up by 0.82% to 7,004.63 at the time of writing.
US MARKET:-
In the U.S. on Wall Street, the Dow Jones Industrial Average closed 1.99% down at 33,587.38 the S&P 500 was down 2.15% to 4,062.56 and the Nasdaq 100 was down 2.67% at 13,031.03.
FOREX MARKET:-
In the Forex market, GBPUSD was down 0.06% at 1.4062. The USDJPY was up 0.04% at 109.70. The USDCHF was down 0.05% at 0.9086. EURUSD was up 0.04% at 1.2073, EUR/GBP was down 0.02% at 0.8587, at the time of writing.
COMMODITY MARKET;-
In the commodity market, U.S. Gold futures fell 0.30% at $1,817.85. Elsewhere, Silver futures fell 0.46% to $27.120 per ounce, Platinum fell 0.43% at $1,220.05 per ounce, and Palladium was up 0.89% at $2,875.50.
Brent crude oil was down 0.94% to $68.67 barrel while U.S. West Texas Intermediate (CLc1) fell 0.98% at $65.43.
CRYPTO-CURRENCY MARKET:-
In the Cryptocurrency Markets, BTCUSD fell 12.39% at $50,601.9 , Ethereum at 3,916.41 down by 8.42%, Litecoin at 323.582 down 16.18%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:

AstraZeneca up 2.02% at 7,786.0. Apple Inc. down 2.49% at $122.77 , Amazon.com down 2.23 % at $ 3,151.49, TESLA Inc down 4.42% at $589.04, SAP down 0.50% at 112.540, Microsoft down 2.94% at $239.18 , Adidas up 0.97% at 286.65.
Economic news:
USA MARKET

The Federal Reserve is exploring the technology that would be required to establish a central bank digital currency, but more research needs to be done before it would move forward with a currency, Boston Fed Bank President Eric Rosengren said on Wednesday.
“It is important to highlight that this is exploratory work, and any decision to move forward with such a currency would depend on a variety of factors beyond the technological feasibility and implementation,” Rosengren said in remarks prepared for a virtual event organized by Harvard Law School.
A central bank digital currency could improve financial inclusion, reduce the cost of cross-border financial transactions and provide more flexibility for implementing monetary policy, he said.
But Fed officials would need to fully consider the policy implications and trade-offs that come with using a digital currency, including possible threats to financial stability, Rosengren said.
The Boston Fed is doing research on the technology that could be used to create a hypothetical digital currency through a joint project with MIT’s Digital Currency Initiative.
They plan to release a white paper and open source code early in the third quarter of this year, and later phases of the research project will focus on privacy, anti-money laundering and other issues.
“It is important to understand what problems a central bank digital currency is being designed to solve, and whether other technologies could more cheaply or efficiently address those problems,” Rosengren said.
EUROZONE:-

European banks’ first-quarter earnings have surpassed all expectations in a turnaround from the COVID-19 doldrums of a year ago, yet after a decade of travails more than one season may be needed to win over sceptics.
European bank shares are up 25% already this year, more than double the gains of the underlying STOXX 600 index. Since November, when President Joe Biden won U.S. elections with pledges for big-time spending, the sector has rallied some 66%.
Vaccine rollouts, massive government spending and hopes of a resumption of post-pandemic normality have made investors eager to buy into the recovery; many are rotating portfolios to so-called cyclical stocks, which benefit when the economy looks up.
European banks have become a proxy of choice though some caution the trading frenzy which boosted investment banking revenues may fade over coming months and that non-performing loans could rise once governments cut back on emergency support.
All of Europe’s top 10 lenders by market capitalisation beat forecasts for the January-March period thanks to buoyant revenues from securities trading, lower provisions against bad loans and rising bond yields.
The majority of other big players such as Deutsche Bank , Societe Generale and Unicredit passed the season with flying colours too.
Refinitiv data shows a rough 200% profit jump off the troughs of a year ago after the markets crashed last March as the COVID-19 pandemic hit Europe.
“We have effectively got 95% of all banks beating expectations, and not only that, beating them by an average of 24%,” said Magdalena Stoklosa, head of European banks research at Morgan Stanley .
While European bank shares already are on course for their best performance since 2009, Stoklosa sees potential for another 10% gains from current levels.
Jerome Legras, head of research at Axiom Alternative Investments, which invests in bank equity and debt, said earnings could improve further if banks trim provisions to cover for any pandemic-related losses.
TECHNICAL SUMMARY
EUR/USD:-

TRADE SUGGESTION- BUY AT 1.20810, TAKE PROFIT AT 1.21010 AND STOP LOSS AT 1.20710
USD/CAD:-

TRADE SUGGESTION- Sell AT 1.21320, TAKE PROFIT AT 1.21020 AND STOP LOSS AT 1.21480.
GBP/USD:-

TRADE SUGGESTION- BUY AT 1.4050, TAKE PROFIT AT 1.4150 AND STOP LOSS AT 1.4000
NASDAQ 100:-

TRADE SUGGESTION- SELL AT 13,020.50, TAKE PROFIT AT 12,820.50 AND STOP LOSS AT 13,170.50.
Gold:-

TRADE SUGGESTION- BUY AT 1820.360, TAKE PROFIT AT 1870.360 AND STOP LOSS AT 1795.360
ETHEREUM:-

TRADE SUGGESTION- BUY AT 3,990.50, TAKE PROFIT AT 4,190.50 AND STOP LOSS 3,890.50 .

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 14 MAY 2021​

ASIAN MARKET:-
Mainland Chinese stocks were down by the early morning. The Shanghai Composite was up by 1.42% to 3,477.86. Hong Kong’s Hang Seng Index was up about 0.96% to 27,983.75.
Japan’s benchmark Nikkei average. Nikkei 225 is trading up 2.16 per cent at 28,035.63 on Friday while the Australian Index S&P / ASX 200 rose 0.95 percent to 7,048.71. South Korea’s Kospi was up by 0.97% to 3,152.98.
EUROPEAN MARKET:-
The FTSE MIB climbed up by 0.14% to 24,486.46. In the cash markets, the DAX futures Germany was trading 0.33% higher at 15,199.25. CAC 40 futures in France climbed up by 0.14% to 6,288.57, while the FTSE 100 futures in the U.K was down by 0.59% to 6,963.63 at the time of writing.
US MARKET:-
In the U.S. on Wall Street, the Dow Jones Industrial Average closed 1.29% up at 34,021.38 the S&P 500 was up 1.22% to 4,112.56 and the Nasdaq 100 was up 0.72% at 13,124.03.
FOREX MARKET:-
In the Forex market, GBPUSD was down 0.05% at 1.4043. The USDJPY was up 0.12% at 109.70. The USDCHF was down 0.05% at 0.9086. EURUSD was down 0.08% at 1.2087, EUR/GBP was up 0.13% at 0.8605, at the time of writing.
COMMODITY MARKET;-
In the commodity market, U.S. Gold futures fell 0.07% at $1,822.85. Elsewhere, Silver futures fell 0.01% to $27.058 per ounce, Platinum rose 0.71% at $1,219.05 per ounce, and Palladium was up 0.77% at $2,886.50.
Brent crude oil was down 0.40% to $66.78 barrel while U.S. West Texas Intermediate (CLc1) fell 0.31% at $63.62.
CRYPTO-CURRENCY MARKET:-
In the Cryptocurrency Markets, BTCUSD fell 2.56% at $49,235.9 , Ethereum at 3,803.41 down by 2.59%, Litecoin at 313.582 down 2.58%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:

Alibaba ADR down 6.28% at 206.08. Apple Inc. up 1.79% at $124.77 , Amazon.com up 0.30 % at $ 3,161.49, TESLA Inc down 3.09% at $571.04, SAP down 0.50% at 111.980, Microsoft down 2.94% at $239.18 , Adidas down 0.68% at 284.65.
Economic news:
USA MARKET

Democratic Senator Martin Heinrich on Thursday introduced a bill that would help states that rely on oil and gas revenue weather the U.S. transition away from fossil fuels by offering federal support to help fill gaps in state and school budgets hit by a decline in oil and gas production.
The Schools and State Budgets Certainty Act would provide “energy transition payments” to states that rely on revenue from federal mineral leasing as a result of changes in U.S. policy to give them time to invest in new industries, the New Mexico senator said.
President Joe Biden signed an executive order in January pausing new oil and gas leasing on federal lands and waters that account for around 25% of the nation’s petroleum production pending a review of its impacts, a move that has been seen as a first step to the permanent ban he promised during his campaign.
“The global energy landscape is undergoing a massive transformation, and states like New Mexico need to be ready,” said Heinrich, adding that the bill offers these states a “glidepath” to move away from their reliance on extractive industries.
His bill would set a baseline mineral revenue amount for each fiscal year based on a historical average of federal mineral revenue that would decline by 5% each year. The federal government would then pay a state or county the difference between the actual mineral payment and the baseline.
EUROZONE:-

Europe is not facing the kind of inflation concerns seen in the United States and the current mix of monetary and fiscal policy is appropriate, European Central Bank Governing Council member Yannis Stournaras said on Thursday.
“I think both fiscal and monetary policy are the right mix,” Stournaras told the Delphi Economic Forum in Athens.
He said that despite signs that financial markets were predicting inflation, in Europe models showed that “we have not yet to worry about inflation or not to worry as perhaps in the United States.”
TECHNICAL SUMMARY
USD\JPY:-

TRADE SUGGESTION- BUY AT 109.480, TAKE PROFIT AT 109.680 AND STOP LOSS AT 109.380
EUR/USD:-

TRADE SUGGESTION- BUY AT 1.20880, TAKE PROFIT AT 1.20980 AND STOP LOSS AT 1.20780
USD/CAD:-

TRADE SUGGESTION- Sell AT 1.21720, TAKE PROFIT AT 1.21520 AND STOP LOSS AT 1.21820.
S&P 500:-

TRADE SUGGESTION- SELL AT 4,120.50, TAKE PROFIT AT 4,070.50 AND STOP LOSS AT 4,145.50.
Gold:-

TRADE SUGGESTION- BUY AT 1825.360, TAKE PROFIT AT 1875.360 AND STOP LOSS AT 1800.360
ETHEREUM:-

TRADE SUGGESTION- BUY AT 3,810.50, TAKE PROFIT AT 3,910.50 AND STOP LOSS 3,760.50 .

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 17 MAY 2021​

Asian share markets turned mixed on Monday. The Shanghai composite is up 0.78% at 3,517.615. Overall, the Singapore MSCI up 0.75% at 347.80. Over in Hong Kong, the Hang Seng Index up 0.60% to 28,083. In Japan, the Nikkei 225 down 0.96% at 27,770, while the Topix index is down 0.27% at 1876.0. South Korea’s Kospi down 0.60% to 3134.53. Australia S&P/ASX 200 up 0.13% at 7023.6.
European equities Friday closing. The DAX futures contract in Germany traded 1.43% up at 15416.64, CAC 40 futures up 0.26% at 6402.85 and the UK 100 futures contract in the U.K. up 0.26% at 7,062.2.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.06% up at 34382.5 the S&P 500 up 1.49% to 4173.9 and the Nasdaq 100 down 0.10% at 13396.9, NYSE closes at 16415.35 up 1.44%.
In the Forex market, GBPUSD up 0.19% at 1.41159. The USDJPY down 0.15% at 109.168. The USDCHF up 0.02% at 0.90132. EURUSD flat at 1.21446, EUR/GBP down 0.10% at 0.86040. The USD/CNY up 0.02% at 6.4380, at the time of writing.
In the commodity market U.S. Gold futures up 0.64% at $1,854.00. Elsewhere, Silver futures up 1.07% to $27.703 per ounce, Platinum up 0.82% at $1235.03 per ounce, and Palladium up 0.36% to $2,903.
Crude Oil mix on Monday; Brent crude oil down 0.29% to $68.61 barrel while U.S. West Texas Intermediate (CLc1) is up 0.90% at $65.09.
In the Cryptocurrency Markets, BTCUSD at 44570.82 down 4.04%, Ethereum at 3448.85 down 3.76%, Litecoin at 285.72 up 3.61%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:

SEAGATE TECH. up 12.441% at $97.97, WESTERN DIGITAL up 8.287% at $71.87, GAP Inc. up 6.597% to $35.71, WALT DISNEY Co. down 2.602% to $173.7, BOEING Inc. up 2.619% to $228.47, WALT DISNEY down 2.602% at $173.7.
Economic news:
US: High unemployment. Rising prices. Gas lines.
They’re a bad memory for Americans old enough to remember the 1970s – but they’re also likely causing a few sleepless nights in the White House, as the United States’ economic recovery from the unprecedented coronavirus recession hits some bumps.
The jolts are dampening consumer confidence, ramping up inflation fears, and helping Republicans build their case against President Joe Biden and his ambitious plans to revamp the U.S. economy with trillions in new spending.
As the 1970s show, high joblessness and rising prices the United States saw in April can be a potent political force.
Republicans crafted a “misery index” out of the two factors to attack then-president Jimmy Carter. After hitting 75% approval ratings early in his presidency, the Democrat was trounced in a 1980 landslide.
Eurozone: Euro zone governments’ borrowing costs are at multi-month highs and German 10-year bond yields are rising towards 0%, yet ECB policymakers and investors appear unruffled, a sign that they view the bloc’s ongoing economic recovery as the real thing.
It’s a contrast with February when yields on German bonds, the euro area benchmark rate, rose 35 basis points within a month to -0.20%.
That led European Central Bank officials to line up and talk the markets down with veiled threats to tamp down borrowing costs. They then followed up in March by accelerating the pace of emergency bond buys.
This time, Germany’s Bund yield is near its highest level in almost two years and looks set to breach the 0% milestone for the first time since 2019.
Important Data: US NY Empire State Manufacturing Index (May) today at 8:30 this time estimated 23.9, previously which was 26.3. CANADA Housing Starts (Apr) today at 8:15 this time estimated 292.5K, previously which was 335.2K. RUSSIA GDP Quarterly (YoY) (Q1) today at 12:00 this time estimated 2.2%, previously which was -1.8%. JAPAN GDP (QoQ) (Q1) today at 19:50 previously which was at 2.8%.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- BUY AT 1.41032, TAKE PROFIT AT 1.41473 AND STOP LOSS AT 1.40657
EURUSD

TRADE SUGGESTION- BUY AT 1.21373, TAKE PROFIT AT 1.21626 AND STOP LOSS AT 1.2111
USDJPY

TRADE SUGGESTION- SELL AT 109.221, TAKE PROFIT AT 109.034 AND STOP LOSS AT 109.456
EURJPY

TRADE SUGGESTION- BUY AT 132.569, TAKE PROFIT AT 132.806 AND STOP LOSS AT 132.436
DAX 30

TRADE SUGGESTION- BUY AT 15407.5 TAKE PROFIT AT 15503.9 AND STOP LOSS AT 15261.5
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 65.34 TAKE PROFIT AT 65.71 AND STOP LOSS AT 64.72
GOLD

TRADE SUGGESTION- BUY AT 1853.00, TAKE PROFIT AT 1863.07 AND STOP AT 1842.96
BTC USD

TRADE SUGGESTION- SELL AT 45201.00 TAKE PROFIT AT 44319.68 AND STOP AT 46310.62

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 18 MAY 2021​

Asian shares rose on Tuesday. The Shanghai composite is up 0.17% at 3,523.50. Overall, the Singapore MSCI up 2.24% at 355.60. Over in Hong Kong, the Hang Seng Index up 1.41% to 28,487. In Japan, the Nikkei 225 up 2.48% at 28,460, while the Topix index is up 1.79% at 1909.5. South Korea’s Kospi up 1.23% to 3173.50. Australia S&P/ASX 200 up 0.60% at 7066.0.
European equities Monday closing. The DAX futures contract in Germany traded 0.13% down at 15396.62, CAC 40 futures down 0.28% at 6367.36 and the UK 100 futures contract in the U.K. down 0.15% at 7,032.9.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.16% down at 34327.8 the S&P 500 down 0.25% to 4163.3 and the Nasdaq 100 up 0.81% at 13430.3, NYSE closes at 16422.96 up 0.55%.
In the Forex market, GBPUSD up 0.43% at 1.41874. The USDJPY down 0.13% at 109.049. The USDCHF down 0.42% at 0.89940. EURUSD up 0.31% at 1.21867, EUR/GBP down 0.02% at 0.85906. The USD/CNY down 0.22% at 6.4248, at the time of writing.
In the commodity market U.S. Gold futures up 0.224% at $1,870.26. Elsewhere, Silver futures up 1.24% to $28.526 per ounce, Platinum up 0.27% at $1242.32 per ounce, and Palladium up 0.44% to $2,915.87.
Crude Oil up on Tuesday; Brent crude oil up 0.36% to $69.79 barrel while U.S. West Texas Intermediate (CLc1) is up 0.41% at $66.56.
In the Cryptocurrency Markets, BTCUSD at 44968.03 up 3.08%, Ethereum at 3472.58 up 5.83%, Litecoin at 302.74 up 7.63%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
SEAGATE TECH. up 6.39% at $104.23, WESTERN DIGITAL up 6.331% at $76.42, COMCAST Corp. down 5.496% to $55.455, DISCOVERY Inc. down 5.049% to $33.85, AT&T Inc. down 2.699% to $31.37, NIEK Inc. up 0.353% at $136.41.
Economic news:
US: The United States and Canada urged Mexico to respect foreign investments during trade discussions on Monday, officials said, while Washington also raised issues over Mexican farm produce.
The talks came at the start of the first meeting of the United States-Mexico-Canada Agreement (USMCA) Free Trade Commission, which centers on the trade accord that last year replaced the North American Free Trade Agreement (USMCA).
Virtual talks were held bilaterally between Mexican Economy Minister Tatiana Clouthier and her counterparts U.S. Trade Representative Katherine Tai and Mary Ng, Canada’s Minister of Small Business, Export Promotion and International Trade.
The Mexican Economy Ministry said Clouthier and Tai discussed auto sector rules of origin, Mexico’s labor market reform, collaboration on environmental issues and ongoing U.S. probes into Mexican agricultural products.
Eurozone: The European Commission wants to propose in 2023 a more unified way of taxing companies in the European Union, hoping that such rules, which have failed to win support in the past, will stand a better chance if they follow global OECD solutions expected this year.
The Commission will present a plan on Tuesday including this proposal and other measures for adjusting the EU’s business taxation to make it more up to date with the modern world, where cross-border business, often carried out via the Internet, is commonplace.
Important Data: US Building Permits (Apr) today at 8:30 this time estimated 1.77M, previously which was 1.759M. AUSTRALIA Wage Price Index (QoQ) (Q1) today at 21:30 this time estimated 0.5%, previously which was 0.6%. US API Weekly Crude Oil Stock today at 16:30 previously which was -2.533M. EURO ZONE GDP (YoY) (Q1) today at 5:00 previously which was at -1.8%.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.37671, TAKE PROFIT AT 1.37141 AND STOP LOSS AT 1.38503
EURUSD

TRADE SUGGESTION- SELL AT 1.17572, TAKE PROFIT AT 1.17179 AND STOP LOSS AT 1.17993
GBPJPY

TRADE SUGGESTION- BUY AT 151.390, TAKE PROFIT AT 152.121 AND STOP LOSS AT 150.754
CHFJPY

TRADE SUGGESTION- SELL AT 116.981, TAKE PROFIT AT 116.765 AND STOP LOSS AT 117.215
DOW JONES

TRADE SUGGESTION- BUY AT 33074 TAKE PROFIT AT 33164 AND STOP LOSS AT 32993
WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 61.37 TAKE PROFIT AT 61.02 AND STOP LOSS AT 61.73
GOLD

TRADE SUGGESTION- SELL AT 1703.85, TAKE PROFIT AT 1699.61 AND STOP AT 1709.27
LITECOIN USD

TRADE SUGGESTION- SELL AT 192.55 TAKE PROFIT AT 186.23 AND STOP AT 199.47

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 19 MAY 2021​

Asia-Pacific shares outside Japan dropped 0.3%. The Shanghai composite is down 0.51% at 3,510.96. Overall, the Singapore MSCI down 1.25% at 352.15. Over in Hong Kong, the Hang Seng Index down 0.13% to 28,418. In Japan, the Nikkei 225 down 1.72% at 27,970, while the Topix index is down 1.07% at 1889.0. South Korea’s Kospi up 1.23% to 3173.50. Australia S&P/ASX 200 down 1.90% at 6931.7.
European equities Tuesday closing. The DAX futures contract in Germany traded 0.07% down at 15386.58, CAC 40 futures down 0.99% at 6290.49 and the UK 100 futures contract in the U.K. down 0.69% at 6970.1.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.78% down at 34060.66 the S&P 500 down 0.85% to 4127.83 and the Nasdaq 100 down 0.59% at 13117.6, NYSE closes at 16337.73 down 0.52%.
In the Forex market, GBPUSD up 0.03% at 1.41933. The USDJPY up 0.10% at 108.984. The USDCHF down 0.06% at 0.89716. EURUSD up 0.14% at 1.22391, EUR/GBP up 0.13% at 0.86248. The USD/CNY up 0.04% at 6.4278, at the time of writing.
In the commodity market U.S. Gold futures up 0.12% at $1,871.45. Elsewhere, Silver futures down 0.25% to $28.078 per ounce, Platinum down 0.08% at $1219.03 per ounce, and Palladium up 0.03% to $2,904.50.
Crude Oil mix on Wednesday; Brent crude oil down 0.93% to $67.88 barrel while U.S. West Texas Intermediate (CLc1) is down 0.32% at $65.16.
In the Cryptocurrency Markets, BTCUSD at 39105.81 down 8.63%, Ethereum at 2917.71 down 13.69%, Litecoin at 264.17 down 10.16%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock
WALMART Inc. up 2.174% at $141.91, NETEASE Inc. up 3.537% at $108.61, DEXCOM Inc. up 1.447% to $330.11, CSX Corp. down 1.494% to $98.90, AT&T Inc. down 5.802% to $29.55, GAP Inc. down 3.716% at $34.98.
Economic news:
US: The Biden administration on Tuesday gave investors two extra weeks to buy or sell securities in certain companies it deems are tied to the Chinese military, an extension it said was needed to craft a stronger policy to prohibit such trades.
President Joe Biden’s administration has been reviewing a number of aspects of U.S.-China policy, including a ban imposed under his predecessor Donald Trump on investments in certain Chinese companies that the United States says are linked to China’s armed forces and intelligence agencies.
Investors now have until 9:30 a.m. (1330 GMT) on June 11 to compete their transactions, the U.S. Treasury Department said in a notice posted on its website. The previous deadline was May 27.
Eurozone: British Prime Minister Boris Johnson on Wednesday announced a series of urban renewal projects worth 830 million pounds ($1.2 billion) in towns and cities away from London as part of his promise to “level up” the country’s economy.
Johnson, who won a 2019 election thanks largely to voters in struggling regions of England and is facing pressure from nationalists in Scotland and Northern Ireland, also said more than 3,000 interior and business ministry jobs would move to Stoke-on-Trent in central England, Edinburgh and Belfast by 2025.
“As the country gets back on its feet, the government has renewed its commitment to levelling up and tackling the issues that really matter to people,” Johnson said in a statement.
Important Data: EURO ZONE CPI (YoY) (Apr) today at 5:00 this time estimated 1.6%, previously which was 1.3%. CANADA Core CPI (MoM) (Apr) today at 8:30 previously which was 0.3%. US Crude Oil Inventories Stock today at 10:30 this time estimated 1.623M previously which was -0.427M. JAPAN Adjusted Trade Balance today at 19:50 previously which was at 0.30T.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- BUY AT 1.41772, TAKE PROFIT AT 1.41968 AND STOP LOSS AT 1.41716
EURUSD

TRADE SUGGESTION- BUY AT 1.22196, TAKE PROFIT AT 1.22261 AND STOP LOSS AT 1.22129
USDJPY

TRADE SUGGESTION- SELL AT 109.059, TAKE PROFIT AT 108.899 AND STOP LOSS AT 109.146
USDCHF

TRADE SUGGESTION- SELL AT 0.90, TAKE PROFIT AT 0.89863 AND STOP LOSS AT 0.90110
HANG SENG

TRADE SUGGESTION- BUY AT 28397.0 TAKE PROFIT AT 28538 AND STOP LOSS AT 27889
WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 64.25 TAKE PROFIT AT 63.60 AND STOP LOSS AT 65.04
GOLD

TRADE SUGGESTION- BUY AT 1860.70, TAKE PROFIT AT 1867.95 AND STOP AT 1859.85
LITECOIN

TRADE SUGGESTION- SELL AT 271.42 TAKE PROFIT AT 249.30 AND STOP AT 282.95