Daily Technical Analysis Report By Capital Street Fx

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 22 JUNE 2021​

Asia Pacific stocks were mostly up Tuesday morning. The Shanghai composite is up 0.44% at 3,545.69. Overall, the Singapore MSCI down 0.21% at 353.55. Over in Hong Kong, the Hang Seng Index down 0.42% to 28,303. In Japan, the Nikkei 225 up 2.86% at 28,820, while the Topix index is down 2.95% at 1956.0. South Korea’s Kospi up 0.78% to 3264.45. Australia S&P/ASX 200 up 1.60% at 7350.8.
European equities Monday closing. The DAX futures contract in Germany traded 1.00% up at 15603.24, CAC 40 futures up 0.51% at 6602.55 and the UK 100 futures contract in the U.K. flat at 7,088.0.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.76% at 33876.98 the S&P 500 up 1.40% to 4224.80 and the Nasdaq 100 down 0.06% at 14145.0, NYSE closes at 16411.97 up 1.66%.
In the Forex market, GBPUSD down 0.24% at 1.38. The USDJPY up 0.16% at 110.469. The USDCHF up 0.32% at 0.92060. EURUSD down 0.19% at 1.18944, EUR/GBP up 0.10% at 0.85573. The USD/CNY up 0.02% at 6.4679, at the time of writing.
In the commodity market U.S. Gold futures up 0.02% at $1,783.00. Elsewhere, Silver futures down 0.15% to $25.873 per ounce, Platinum up 1.43% at $1063.03 per ounce, and Palladium up 0.04% to $2,580.00.
Crude Oil up on Tuesday; Brent crude oil up 0.43% to $75.14 barrel while U.S. West Texas Intermediate (CLc1) is up 0.63% at $70.71.
In the Cryptocurrency Markets, BTCUSD at 32675.87 up 3.31%, Ethereum at 1944.00 up 2.94%, Litecoin at 129.15 up 3.58%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
HESS Corp. up 7.173% at $90.40, Xilinx Inc. down 3.328% at $127.53, MODERNA Inc. up 4.543% to $208.24, CDW Corp. up 2.383% to $169.73, OKTA Inc. down 2.541% to $233.18, BIOGEN Inc. down 1.939% at $380.91.
Economic news:
US: U.S. President Joe Biden held separate talks on Monday with two key Democratic senators about a bipartisan infrastructure plan and told them he was encouraged by the proposal but still had questions about how to pay for the bill, the White House said.
A bipartisan infrastructure plan costing a little over $1 trillion, only about a fourth of what Biden initially proposed, has been gaining support in the U.S. Senate, but disputes continue over how it should be funded.
Biden met separately with Senators Joe Manchin and Kyrsten Sinema and “told them he was encouraged by what has taken shape but that he still has questions about the policy as well as the means for financing the bipartisan group’s proposal,” the White House said.
Biden also told the senators that he was “focused on budget resolution discussions in the Senate,” it said, an apparent reference to Democratic preparations to pass parts of his broader infrastructure plans opposed by Republicans using a procedure called reconciliation that requires only a simple majority.
There are 50 Republicans, 48 Democrats and two independents who caucus with Democrats in the 100-seat Senate and Vice President Kamala Harris has the tie-breaking vote for the Democrats.
Eurozone: The euro zone and the United States are “clearly in a different situation” when it comes the outlook for inflation, European Central Bank President Christine Lagarde said on Monday, playing down any impact from across the Atlantic.
With the U.S. economy reopening and prices rebounding fast, Federal Reserve officials have started discussing ending their bond purchase programme and last week brought forward their expectations for the first rate hike since the start of the coronavirus pandemic.
This has triggered market speculation about rising inflation and a tightening of monetary policy across the globe.
But Lagarde rejected comparisons between both economies, saying the U.S. recovery was farther ahead of the euro zones.
“The United States and Europe are clearly in a different situation,” Lagarde told the European Parliament. “It’s tempting to compare but it’s not very judicious given the many differences between the two economies.”
Important Data: US Existing Home Sales (May) today at 10:00 this time estimated 5.72M, previously which was 5.85M. API Weekly Crude Oil Stock today at 16:30 previously which was -8.537M. CBI Industrial Trends Orders (Jun) today at 6:00 this time estimated 18, previously which was 17. EURO ZONE ECB’s Lane Speaks today at 10:00.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.38989, TAKE PROFIT AT 1.38603 AND STOP LOSS AT 1.39270
EURUSD

TRADE SUGGESTION- SELL AT 1.19009, TAKE PROFIT AT 1.18859 AND STOP LOSS AT 1.19162
EURJPY

TRADE SUGGESTION- SELL AT 131.416, TAKE PROFIT AT 131.266 AND STOP LOSS AT 131.528
GBPJPY

TRADE SUGGESTION- BUY AT 153.364, TAKE PROFIT AT 153.701 AND STOP LOSS AT 153.111
DOW JONES

TRADE SUGGESTION- SELL AT 33791.0 TAKE PROFIT AT 33641.0 AND STOP LOSS AT 33898.0
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 72.78 TAKE PROFIT AT 73.03 AND STOP LOSS AT 72.74
GOLD

TRADE SUGGESTION- SELL AT 1780.36, TAKE PROFIT AT 1749.45 AND STOP AT 1797.23
BTC USD

TRADE SUGGESTION- SELL AT 32613.30 TAKE PROFIT AT 31844.77 AND STOP AT 33156.45

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 24 JUNE 2021​

Asia Pacific stocks were mostly up Thursday morning. The Shanghai composite is down 0.15% at 3,561.00. Overall, the Singapore MSCI up 0.08% at 354.45. Over in Hong Kong, the Hang Seng Index up 0.24% to 28,799. In Japan, the Nikkei 225 up 0.10% at 28,840, while the Topix index is down 0.08% at 1942.5. South Korea’s Kospi up 0.38% to 3287.73. Australia S&P/ASX 200 down 0.09% at 7291.8.
European equities Wednesday closing. The DAX futures contract in Germany traded 1.15% down at 15456.39, CAC 40 futures down 0.91% at 6551.07 and the UK 100 futures contract in the U.K. up 0.23% at 7,087.6.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.21% at 33874.25. The S&P 500 down 0.11% to 4241.83 and the Nasdaq 100 up 0.19% at 14318.1, NYSE closes at 16437.62 down 0.07%.
In the Forex market, GBPUSD up 0.02% at 1.39607. The USDJPY up 0.01% at 110.968. The USDCHF up 0.14% at 0.91926. EURUSD down 0.01% at 1.19250, EUR/GBP up 0.05% at 0.85411. The USD/CNY up 0.09% at 6.4801, at the time of writing.
In the commodity market U.S. Gold futures down 0.18% at $1,774.40. Elsewhere, Silver futures up 0.08% to $25.869 per ounce, Platinum down 1.23% at $1075.22 per ounce, and Palladium up 0.19% to $2,618.50.
Crude Oil mix on Thursday; Brent crude oil down 0.21% to $75.24 barrel while U.S. West Texas Intermediate (CLc1) is up 0.01% at $70.59.
In the Cryptocurrency Markets, BTCUSD at 32618.25 down 3.07%, Ethereum at 1912.38 down 2.86%, Litecoin at 128.03 down 0.74%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
TESLA Inc. up 5.269% at $656.57, TWITTER Inc. up 4.249% at $66.49, FORD MOTOR Co. up 3.421% to $15.42, NOV Inc. down 7.38% to $15.06, MODERNA Inc. down 4.21% to $212.04, SEAGEN Inc. down 1.134% at $156.88.
Economic news:
US: U.S. Treasury Secretary Janet Yellen on Wednesday warned Congress that the United States risks a debt default and a new financial crisis as soon as the August recess if lawmakers fail to act quickly to suspend or raise the federal borrowing limit.
In testimony to a Senate Appropriations subcommittee, Yellen said defaulting on U.S. debt obligations would be “unthinkable” and “would have absolutely catastrophic economic consequences.”
Yellen said that to avoid uncertainty for financial markets, Congress should pass new debt limit legislation – allowing the Treasury to continue borrowing – before the latest suspension expires on July 31.
An unprecedented default on U.S. government debt obligations “would precipitate a financial crisis, it would threaten the jobs and savings of Americans at a time when we’re still recovering from the COVID pandemic,” Yellen said.
“I would plead with Congress to simply protect the full faith and credit of the United States by acting to raise or suspend the debt limit as soon as possible.”
Eurozone: The Bank of England will say on Thursday whether it is worried about a recent jump in inflation, which broke above the central bank’s 2% target and looks set to climb higher as Britain reawakens its economy from its coronavirus slumber.
With global policymakers grappling with economic overheating risks against the backdrop of huge stimulus programmes, Governor Andrew Bailey and other BoE officials have mostly said Britain’s faster price growth is likely to prove transitory.
But last week, the U.S. Federal Reserve began to move towards reducing its pandemic stimulus by signalling its first-rate hike in 2023, a year earlier than previous projections, putting the focus on what other central banks might now do.
The BoE is expected to leave its benchmark rate at an all-time low of 0.1% and press on with its 895 billion-pound ($1.25 trillion) bond-buying programme when it announces its June policy decision at 1100 GMT.
But investors are watching to see if any other Monetary Policy Committee members join Chief Economist Andy Haldane who is likely to vote again to scale back the bond-buying programme at his final meeting before leaving the BoE.
Important Data: German Business Expectations (Jun) today at 4:00 this time estimated 103.9, previously which was 102.9. UK BoE Interest Rate Decision (Jun) today at 7:00 this time estimated 0.10%, previously which was 0.10%. US Core Durable Goods Orders (MoM) (May) today at 8:30 this time estimated 0.8%, previously which was 1.0%. US GDP (QoQ) (Q1) today at 8:30 this time estimated 6.4%, previously which was 4.3%.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.39563, TAKE PROFIT AT 1.39204 AND STOP LOSS AT 1.4000
EURUSD

TRADE SUGGESTION- SELL AT 1.19338, TAKE PROFIT AT 1.19041 AND STOP LOSS AT 1.19614
USDJPY

TRADE SUGGESTION- BUY AT 110.857, TAKE PROFIT AT 110.997 AND STOP LOSS AT 110.758
USDCHF

TRADE SUGGESTION- BUY AT 0.91830, TAKE PROFIT AT 0.92116 AND STOP LOSS AT 0.91646
DAX 30

TRADE SUGGESTION- SELL AT 15535.0 TAKE PROFIT AT 15402.6 AND STOP LOSS AT 15606.4
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 73.37 TAKE PROFIT AT 73.53 AND STOP LOSS AT 73.28
GOLD

TRADE SUGGESTION- SELL AT 1775.99, TAKE PROFIT AT 1768.84 AND STOP AT 1783.33
BTCUSD

TRADE SUGGESTION- SELL AT 33130.35 TAKE PROFIT AT 32177.78 AND STOP AT 34194.48

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 25 JUNE 2021​

Asian shares rose on Friday. The Shanghai composite is up 1.07% at 3,604.82. Overall, the Singapore MSCI up 0.14% at 354.70. Over in Hong Kong, the Hang Seng Index up 1.24% to 29,191. In Japan, the Nikkei 225 up 0.73% at 29,020, while the Topix index is up 0.72% at 1956.5. South Korea’s Kospi up 0.48% to 3301.52. Australia S&P/ASX 200 up 0.50% at 7311.8.
European equities Thursday closing. The DAX futures contract in Germany traded 0.86% up at 15589.23, CAC 40 futures up 1.22% at 6631.16 and the UK 100 futures contract in the U.K. up 0.51% at 7,109.96.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.95% at 34196.83. The S&P 500 up 0.58% to 4266.48 and the Nasdaq 100 up 0.05% at 14381.5, NYSE closes at 16558.62 up 0.74%.
In the Forex market, GBPUSD up 0.12% at 1.39295. The USDJPY down 0.01% at 110.835. The USDCHF down 0.01% at 0.91766. EURUSD up 0.08% at 1.19404, EUR/GBP up 0.12% at 0.85722. The USD/CNY down 0.21% at 6.4581, at the time of writing.
In the commodity market U.S. Gold futures up 0.29% at $1,780.44. Elsewhere, Silver futures up 0.90% to $26.137 per ounce, Platinum up 0.25% at $1099.7 per ounce, and Palladium up 0.40% to $2,656.00.
Crude Oil up on Friday; Brent crude oil up 0.30% to $75.76 barrel while U.S. West Texas Intermediate (CLc1) is up 0.01% at $70.60.
In the Cryptocurrency Markets, BTCUSD at 34551.77 down 0.28%, Ethereum at 1969.34 down 1.02%, Litecoin at 134.47 down 0.01%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
TESLA Inc. up 3.541% at $679.82, DISCOVERY Inc. up 3.021% at $28.65, BOEING Co. up 2.874% to $250.57, DOLLAR TREE Inc. down 2.118% to $99.34, BAIDU Inc. up 2.96% to $194.77, INTEL Corp. up 1.466% at $56.07.
Economic news:
US: Hours after President Joe Biden declared “We have a deal” to renew the infrastructure of the United States, the Senate’s top Republican lashed out at plans to follow the $1.2 trillion bipartisan bill with another measure funding what Democrats call “human infrastructure.”
Biden and top congressional Democrats – House of Representatives Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer – had long signaled their plan to link the bipartisan deal with another bill including spending on home health care and child care.
The second measure would be passed through a Senate maneuver called reconciliation https://www.reuters.com/world/us/us-senates-reconciliation-process-its-not-way-it-sounds-2021-06-16, which would allow it to take effect without Republican votes.
Biden told reporters at the White House that he expected quick action on both measures – or neither would survive.
“I expect that in the coming months this summer, before the fiscal year is over, that we will have voted on this (bipartisan) bill – the infrastructure bill – as well as voted on the budget resolution,” he said. “But if only one comes to me, I’m not signing it. It’s in tandem.”
Eurozone: European Central Bank Executive Board member Isabel Schnabel pledged that she and her colleagues will do everything needed to sustain the economic recovery, and warned governments not to undermine that by tightening fiscal policy too soon.
“The worst thing that can happen is that the support is ended prematurely. I can assure you that on the monetary-policy side, we’ll do everything to avoid that,” Schnabel said in an online event on Thursday.
“Maybe we should be worried more about fiscal policy,” she added, saying that in some countries “there’s already a debate ongoing about consolidation of public finances which may actually come a bit too early.”
Tensions were on display this week when Italian Prime Minister Mario Draghi, a former ECB president, insisted euro-area fiscal rules can’t return to how they were before the pandemic.
The directly contradicts Armin Laschet, the front-runner to succeed Angela Merkel as German chancellor, who said last week that stability policies will have to be reinstated when the effects of the pandemic on the global economy are over. Austrian Finance Minister Gernot Bluemel has made a similar case.
Important Data: US Personal Spending (MoM) (May) today at 8:30 this time estimated 0.4%, previously which was 0.5%. GfK German Consumer Climate (Jul) today at 7:00 this time estimated -4.0, previously which was -6.9. EURO ZONE Private Sector Loans (YoY) today at 4:00 previously which was 3.8%. US PCE price index (MoM) (May) today at 8:30 previously which was 0.6%.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.39236, TAKE PROFIT AT 1.38852 AND STOP LOSS AT 1.39453
EURUSD

TRADE SUGGESTION- SELL AT 1.19431, TAKE PROFIT AT 1.19215 AND STOP LOSS AT 1.19850
EURGBP

TRADE SUGGESTION- SELL AT 0.85750, TAKE PROFIT AT 0.85627 AND STOP LOSS AT 0.85896
EURJPY

TRADE SUGGESTION- SELL AT 132.335, TAKE PROFIT AT 132.001 AND STOP LOSS AT 132.591
FTSE 100

TRADE SUGGESTION- BUY AT 7122.9 TAKE PROFIT AT 7147.0 AND STOP LOSS AT 7096.3
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 73.32 TAKE PROFIT AT 73.44 AND STOP LOSS AT 73.29
GOLD

TRADE SUGGESTION- SELL AT 1779.49, TAKE PROFIT AT 1771.79 AND STOP AT 1789.78
LITECOIN

TRADE SUGGESTION- SELL AT 133.49 TAKE PROFIT AT 127.78 AND STOP AT 137.85

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 28 JUNE 2021​

Asian shares started the week in a cautious mood on Monday. The Shanghai composite is down 0.14% at 3,602.08. Overall, the Singapore MSCI up 0.54% at 356.60. Over in Hong Kong, the Hang Seng Index down 0.28% to 28,960. In Japan, the Nikkei 225 down 0.28% at 28,960, while the Topix index is up 0.05% at 1959.5. South Korea’s Kospi down 0.03% to 3301.77. Australia S&P/ASX 200 down 0.01% at 7307.3.
European equities Friday closing. The DAX futures contract in Germany traded 0.12% up at 15607.97, CAC 40 futures down 0.12% at 6622.88 and the UK 100 futures contract in the U.K. up 0.37% at 7,136.08.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.69% at 34433.85. The S&P 500 up 0.33% to 4280.69 and the Nasdaq 100 up 0.15% at 14369.0, NYSE closes at 16658.62 up 0.60%.
In the Forex market, GBPUSD up 0.25% at 1.39049. The USDJPY down 0.08% at 110.688. The USDCHF up 0.16% at 0.91817. EURUSD down 0.04% at 1.19297, EUR/GBP down 0.18% at 0.85793. The USD/CNY up 0.05% at 6.4576, at the time of writing.
In the commodity market U.S. Gold futures up 0.11% at $1,782.47. Elsewhere, Silver futures up 0.13% to $26.090 per ounce, Platinum down 0.32% at $1107.47 per ounce, and Palladium up 0.34% to $2,650.00.
Crude Oil up on Monday; Brent crude oil up 0.08% to $76.18 barrel while U.S. West Texas Intermediate (CLc1) is up 4.89% at $74.05.
In the Cryptocurrency Markets, BTCUSD at 34442.38 down 0.74%, Ethereum at 1980.44 down 0.14%, Litecoin at 131.40 down 0.84%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
NIKE Inc. up 15.531% at $154.35, CARMAX Inc. up 6.673% at $127.4, TELEFLEX Inc. up 2.842% to $412.21, FEDEX Corp. down 3.628% to $291.95, EBAY Inc. up 1.998% to $67.90, BAIDU Inc. up 4.041% at $202.64.
Economic news:
US: Republican Senate negotiators on an infrastructure deal were optimistic about a $1.2 trillion bipartisan bill on Sunday after President Joe Biden withdrew his threat to veto the measure unless a separate Democratic spending plan also passes Congress.
U.S. Senator Rob Portman said he and his fellow negotiators were “blindsided” by Biden’s comments on Thursday after a rare bipartisan compromise to fix the nation’s roads, bridges and ports.
“I was very glad to see the president clarify his remarks because it was inconsistent with everything that we had been told all along the way,” Portman said in an interview with ABC.
Moments after announcing the bipartisan deal on Thursday, Biden appeared to put it in jeopardy with his comment that the infrastructure bill would have to move “in tandem” with a larger bill that includes a host of Democratic priorities that he hopes to pass along party lines.
Eurozone: Britain has yet to receive a formal response from the European Union over its proposal to further extend a grace period on checks on some foodstuffs moving to Northern Ireland just days before the latest deadline, a minister said on Sunday.
“We think we have put forward a sensible proposal, something actually quite moderate while we work out a long-term solution and I am hopeful over the next few days that those technical discussions, we’ll be able to get that secured with the EU,” Northern Ireland minister Brandon Lewis told Times Radio.
“We’re coming very close up against the deadline now and we’ve not yet formally heard back from the EU. They need to come back to us. I am hopeful they will come back in a positive way.”
The current grace period waiving checks on British-made sausages and other chilled meats moving to Northern Ireland is due to end on June 30.
Important Data: JAPAN Retail Sales (YoY) (May) today at 19:50 this time estimated 7.9%, previously which was 11.9%. JAPAN Jobs/applications ratio (May) today at 19:30 this time estimated 1.08, previously which was 1.09. UK BoE MPC Member Haldane Speaks today at 8:00. US FOMC Member Quarles Speaks today at 13:10.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.39240, TAKE PROFIT AT 1.38730 AND STOP LOSS AT 1.39473
EURUSD

TRADE SUGGESTION- SELL AT 1.19386, TAKE PROFIT AT 1.19141 AND STOP LOSS AT 1.19504
USDJPY

TRADE SUGGESTION- BUY AT 110.643, TAKE PROFIT AT 110.859 AND STOP LOSS AT 110.457
USDCHF

TRADE SUGGESTION- BUY AT 0.91779, TAKE PROFIT AT 0.92003 AND STOP LOSS AT 0.91652
S&P 500

TRADE SUGGESTION- BUY AT 4283.69 TAKE PROFIT AT 4286.94 AND STOP LOSS AT 4280.90
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 73.88 TAKE PROFIT AT 74.13 AND STOP LOSS AT 73.83
GOLD

TRADE SUGGESTION- SELL AT 1782.59, TAKE PROFIT AT 1776.03 AND STOP AT 1789.28
ETHEREUM

TRADE SUGGESTION- SELL AT 2042.64 TAKE PROFIT AT 2017.30 AND STOP AT 2056.58

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 29 JUNE 2021​

Asian shares dropped on Tuesday. The Shanghai composite is down 0.80% at 3,577.53. Overall, the Singapore MSCI down 1.42% at 351.00. Over in Hong Kong, the Hang Seng Index down 1.03% to 28,924. In Japan, the Nikkei 225 down 0.62% at 28,780, while the Topix index is down 0.56% at 1947.0. South Korea’s Kospi down 0.49% to 3285.63. Australia S&P/ASX 200 down 0.12% at 7298.8.
European equities Monday closing. The DAX futures contract in Germany traded 0.34% down at 15542.17, CAC 40 futures down 0.98% at 6558.03 and the UK 100 futures contract in the U.K. up 0.04% at 7,074.00.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.44% at 34283.28. The S&P 500 up 0.23% to 4290.62 and the Nasdaq 100 down 0.16% at 14495.2, NYSE closes at 16573.72 down 0.51%.
In the Forex market, GBPUSD down 0.03% at 1.38721. The USDJPY up 0.01% at 110.606. The USDCHF up 0.09% at 0.91992. EURUSD down 0.04% at 1.19167, EUR/GBP up 0.07% at 0.85914. The USD/CNY up 0.06% at 6.4597, at the time of writing.
In the commodity market U.S. Gold futures down 0.08% at $1,776.65. Elsewhere, Silver futures down 0.01% to $26.048 per ounce, Platinum down 0.11% at $1089.74 per ounce, and Palladium down 0.43% to $2,678.50.
Crude Oil down on Tuesday; Brent crude oil down 0.13% to $74.48 barrel while U.S. West Texas Intermediate (CLc1) is down 1.74% at $72.76.
In the Cryptocurrency Markets, BTCUSD at 34880.79 up 1.14%, Ethereum at 2123.12 up 1.95%, Litecoin at 139.67 up 1.74%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
ETSY Inc. up 7.365% at $198.41, NVIDIA Corp. up 5.013% at $799.4, FACEBOOK up 4.18% to $355.64, INTEL Corp. up 2.808% to $57.48, CARNIVAL Corp. down 7.039% to $26.15, NOV Inc. down 6.003% at $14.72.
Economic news:
US: Two Federal Reserve officials on Monday expressed strong skepticism about the need for the central bank to issue a digital currency, saying that many dollar transactions are already virtual and some of the potential benefits of an official digital currency may be accomplished through other means.
The remarks, made at two separate events on Monday afternoon, suggest policymakers could face intense discussions as they explore the potential benefits, costs and logistics of creating a central bank digital currency, or CBDC.
Fed Vice Chair for Supervision Randal Quarles said any proposals to create a U.S. CBDC must clear a “high bar,” and that he needs to be convinced the potential benefits would outweigh the risks.
“Before we get carried away with the novelty, I think we need to subject the promises of a CBDC to a careful critical analysis,” Quarles said in remarks delivered in person during the annual Utah Bankers Association Convention.
The Fed official said the U.S. dollar is already “highly digitized” and expressed scepticism that a CBDC would help to improve financial inclusion or lower financial costs. Some of those issues may be better addressed with other solutions, such as improving access to low-cost bank accounts, Quarles said.
Eurozone: Banks in the euro zone are already recording a drop in credit quality and this trend is likely to accelerate once government support measures are removed, European Central Bank Vice President Luis de Guindos said on Monday.
“There are already some early signs of weakening credit quality, for example the share of loans reported as subject to heightened credit risk has risen significantly and asset quality is likely to deteriorate once support measures are phased out,” de Guindos said in a speech.
“The deterioration is most visible in sectors that were hit harder by the pandemic, such as services, while loan performance problems are less prevalent in manufacturing,” he added.
Important Data: AUSTRALIA Private Sector Credit (MoM) (May) today at 21:30 previously which was 0.2%. CHINA Manufacturing PMI (Jun) today at 21:00 this time estimated 50.8, previously which was 51.00. JAPAN Industrial Production (MoM) (May) today at 19:50 this time estimated -2.4%, previously which was 2.9%. US API Weekly Crude Oil Stock today at 16:30 previously which was -7.199M.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.38670, TAKE PROFIT AT 1.38483 AND STOP LOSS AT 1.38906
EURUSD

TRADE SUGGESTION- SELL AT 1.19157, TAKE PROFIT AT 1.18967 AND STOP LOSS AT 1.19293
EURGBP

TRADE SUGGESTION- BUY AT 0.8595, TAKE PROFIT AT 0.86116 AND STOP LOSS AT 0.85779
EURJPY

TRADE SUGGESTION- SELL AT 131.816, TAKE PROFIT AT 131.539 AND STOP LOSS AT 131.999
DJ EURO STOXX 50

TRADE SUGGESTION- SELL AT 4093.00 TAKE PROFIT AT 4072.00 AND STOP LOSS AT 4112.00
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 72.93 TAKE PROFIT AT 73.30 AND STOP LOSS AT 72.40
GOLD

TRADE SUGGES TION- SELL AT 1773.68, TAKE PROFIT AT 1769.26 AND STOP AT 1782.58
RIPPLE

TRADE SUGGESTION- SELL AT 0.6690 TAKE PROFIT AT 0.6504 AND STOP AT 0.6884

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 30 JUNE 2021​

Asia Pacific stocks were mostly up Wednesday morning. The Shanghai composite is up 0.25% at 3,582.82. Overall, the Singapore MSCI up 1.60% at 356.70. Over in Hong Kong, the Hang Seng Index down 0.14% to 28,805. In Japan, the Nikkei 225 up 0.17% at 28,810, while the Topix index is down 0.05% at 1944.0. South Korea’s Kospi up 0.40% to 3299.99. Australia S&P/ASX 200 up 0.43% at 7332.2.
European equities Tuesday closing. The DAX futures contract in Germany traded 0.88% up at 15690.59, CAC 40 futures up 0.14% at 6567.44 and the UK 100 futures contract in the U.K. down 0.04% at 7,074.60.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.03% at 34292.30. The S&P 500 up 0.03% to 4291.81 and the Nasdaq 100 down 0.07% at 14486.5, NYSE closes at 16547.57 down 0.16%.
In the Forex market, GBPUSD up 0.11% at 1.38455. The USDJPY down 0.02% at 110.457. The USDCHF up 0.12% at 0.92173. EURUSD up 0.02% at 1.18964, EUR/GBP up 0.01% at 0.85937. The USD/CNY down 0.09% at 6.4574, at the time of writing.
In the commodity market U.S. Gold futures down 0.20% at $1,757.20. Elsewhere, Silver futures up 0.06% to $25.759 per ounce, Platinum down 0.47% at $1064.46 per ounce, and Palladium up 0.15% to $2,686.00.
Crude Oil mix on Wednesday; Brent crude oil down 0.25% to $74.44 barrel while U.S. West Texas Intermediate (CLc1) is up 0.12% at $72.85.
In the Cryptocurrency Markets, BTCUSD at 35022.51 down 2.47%, Ethereum at 2134.61 down 1.31%, Litecoin at 142.28 down 1.23%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
MORGAN STANLEY up 3.352% at $90.64, NIKE Inc. up 2.356% at $155.95, ETSY Inc. up 2.077% to $202.53, CITI GROUP Inc. down 2.559% to $69.68, INTEL Inc. down 1.27% to $56.75, TESLA Inc. down 1.156% at $680.76.
Economic news:
US: U.S. free-trade agreements reached over the past 3 1/2 decades have had a “small but positive” effect on the world’s biggest economy, a report by a bipartisan federal agency analysing trade issues showed.
Trade pacts concluded since 1984 raised gross domestic product by $88.8 billion, or 0.5%, and added 485,000 full-time equivalent jobs, the International Trade Commission said in a 390-page report released Tuesday. Job gains weren’t evenly distributed, with the biggest improvements seen for college-educated males, it said.
While free-trade agreements “help level the playing field when other markets are less open than those of the U.S.,” critics say the deals “often serve the interests of multinational corporations at the expense of American workers — for example, by promoting trade liberalization and investor protections while failing to adequately protect worker rights and the environment,” the commission said.
The Biden administration has promised its trade policy will focus on workers and the middle class as the nation recovers from the Covid-19 pandemic.
The study examined the economic effects only of trade agreements for which Congress enacted implementing bills, including those under so-called Fast-Track Authority before 2002 and those made under Trade Promotion Authority since that year.
Eurozone: European airline passenger rights, which include carriers’ legal obligation to pay refunds for cancelled flights, have not been safeguarded during the COVID-19 pandemic, an EU report released on Tuesday said.
The European Court of Auditors (ECA) found that in virtually all cases airlines were able to sidestep rules requiring a cash refund for cancelled flights and offer customers vouchers for future journeys instead.
The ECA, which looks after the interests of taxpayers in the 27-member European Union but does not have legal powers, said travel restrictions led to 7,000 air routes being closed in the European airport network after the pandemic began last year.
Flight cancellations affected tens of millions of passengers across the bloc between March 2020 and March 2021, the ECA said.
EU law grants consumers immediate cash refunds for cancelled flights, plus compensation for those scrapped with less than two weeks’ notice or for delays of over three hours.
Important Data: German Unemployment Change (Jun) today at 3:55 this time estimated -20K, previously which was -15K. EURO ZONE CPI (YoY) (Jun) today at 5:00 this time estimated 1.9%, previously which was 2.00%. CANADA GDP (MoM) (Apr) today at 8:30 this time estimated -0.8%, previously which was 1.1%. US Crude Oil Inventories today at 10:30 this time estimated -4.686M, previously which was -7.614M.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.38438, TAKE PROFIT AT 1.38300 AND STOP LOSS AT 1.38551
EURUSD

TRADE SUGGESTION- SELL AT 1.18962, TAKE PROFIT AT 1.18731 AND STOP LOSS AT 1.19161
GBPJPY

TRADE SUGGESTION- SELL AT 152.994, TAKE PROFIT AT 152.754 AND STOP LOSS AT 153.366
CHFJPY

TRADE SUGGESTION- SELL AT 119.934, TAKE PROFIT AT 119.784 AND STOP LOSS AT 120.178
NASDAQ 100

TRADE SUGGESTION- BUY AT 14575.49 TAKE PROFIT AT 14583.67 AND STOP LOSS AT 14570.81
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 73.35 TAKE PROFIT AT 73.60 AND STOP LOSS AT 73.23
GOLD

TRADE SUGGESTION- SELL AT 1758.38, TAKE PROFIT AT 1755.12 AND STOP AT 1763.86
BTCUSD

TRADE SUGGESTION- SELL AT 34979.95 TAKE PROFIT AT 33750.57 AND STOP AT 35582.14

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 02 JULY 2021​

Chinese shares dropped on Friday. The Shanghai composite is down 0.07% at 3,588.78. Overall, the Singapore MSCI up 0.10% at 355.55. Over in Hong Kong, the Hang Seng Index down 1.67% at 28,151. In Japan, the Nikkei 225 up 0.42% at 28,750, while the Topix index is up 0.90% at 1952.0. South Korea’s Kospi up 0.01% to 3282.54. Australia S&P/ASX 200 up 0.51% at 7302.5.
European equities Thursday closing. The DAX futures contract in Germany traded 0.47% up at 15603.81, CAC 40 futures up 0.71% at 6553.83 and the UK 100 futures contract in the U.K. up 1.25% at 7,125.17.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.38% at 34633.54. The S&P 500 up 0.52% to 4319.93 and the Nasdaq 100 down 0.14% at 14533.3, NYSE closes at 16640.95 up 0.52%.
In the Forex market, GBPUSD up 0.06% at 1.37647. The USDJPY up 0.06% at 111.583. The USDCHF up 0.10% at 0.92618. EURUSD down 0.06% at 1.18415, EUR/GBP up 0.03% at 0.86019. The USD/CNY up 0.17% at 6.4802, at the time of writing.
In the commodity market U.S. Gold futures up 0.12% at $1,778.15. Elsewhere, Silver futures up 0.08% to $26.032 per ounce, Platinum up 0.57% at $1089.61 per ounce, and Palladium down 0.04% to $2,764.50.
Crude Oil up on Friday; Brent crude oil up 0.09% at $75.64 barrel while U.S. West Texas Intermediate (CLc1) is up 2.03% at $74.82.
In the Cryptocurrency Markets, BTCUSD at 32858.58 down 2.10%, Ethereum at 2029.71 down 3.70%, Litecoin at 131.43 down 4.12%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
VIATRIS Inc. up 3.219% at $14.75, KLA Corp. down 3.846% at $311.74, ETSY Inc. down 3.075% to $199.51, FACEBOOK up 1.921% to $354.39, FINSERV Inc. up 1.357% to $108.34, AMGEN Inc. up 1.292% at $246.9.
Economic news:
US: The Congressional Budget Office on Thursday doubled its forecast for U.S. economic growth in fiscal 2021 to 7.4% and said it expected the federal budget deficit to decline slightly to about $3 trillion despite higher coronavirus aid spending.
The upbeat forecast from the non-partisan CBO was mirrored by a sharply higher forecast for U.S. economic output from the International Monetary Fund, which raised its projection for U.S. gross domestic product growth to 7% from 6.4%.
The White House welcomed both of the rosy projections – along with others in recent weeks from the World Bank, the Organization for Economic Cooperation and Development and the Federal Reserve – as evidence that President Joe Biden’s plans to jumpstart the U.S. economy were working.
“Growth projections are up, deficit projections are down and unemployment will continue to decrease. Biden’s economy is booming,” a White House official said, adding that the newest forecasts also saw the current bump in consumer prices as temporary.
Eurozone: Britain’s finance minister pledged on Thursday to “sharpen” the competitive advantage of the UK financial services sector as he set out his vision for its future after the City of London lost business to the bloc after Brexit.
In his first Mansion House speech, traditionally an annual address given by the Chancellor of the Exchequer in the City of London financial district, Rishi Sunak said Britain’s departure from the European Union was a unique opportunity to tailor rules while maintaining high regulatory standards and open markets.
Brexit has largely severed the City’s ties with investors in the EU, triggering a shift in over 7,500 financial jobs from London to new hubs in the bloc, with Amsterdam leapfrogging London to become Europe’s biggest share trading centre.
Last year the finance ministry rolled out reviews to listings rules, fintech and insurance capital rules, and on Thursday it announced there would be further public consultations on financial reforms.
Important Data: US Average Hourly Earnings (YoY) (Jun) today at 8:35 this time estimated 3.7%, previously which was 2.0%. US Nonfarm Payrolls (Jun) today at 8:30 this time estimated 700K, previously which was 559K. CANADA Building Permits (MoM) (May) today at 8:30 this time estimated -0.3%, previously which was -0.5%. EURO ZONE ECB President Lagarde Speaks today at 8:30.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.37525, TAKE PROFIT AT 1.37197 AND STOP LOSS AT 1.37864
EURUSD

TRADE SUGGESTION- SELL AT 1.18333, TAKE PROFIT AT 1.18087 AND STOP LOSS AT 1.18610
USDJPY

TRADE SUGGESTION- BUY AT 111.577, TAKE PROFIT AT 111.619 AND STOP LOSS AT 111.526
USDCHF

TRADE SUGGESTION- BUY AT 0.92608, TAKE PROFIT AT 0.92642 AND STOP LOSS AT 0.92584
FTSE 100

TRADE SUGGESTION- BUY AT 7139.60 TAKE PROFIT AT 7169.50 AND STOP LOSS AT 7118.60
WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 75.07 TAKE PROFIT AT 75.22 AND STOP LOSS AT 74.96
GOLD

TRADE SUGGESTION- BUY AT 1776.18, TAKE PROFIT AT 1783.84 AND STOP AT 1771.65
ETHEREUM

TRADE SUGGESTION- SELL AT 2032.56 TAKE PROFIT AT 1931.15 AND STOP AT 2139.13

 

[CSFXNEWS]

Daily Free Forex Trading Signals By Capital Street Fx - July 05, 2021

AUDUSD
SELL= 0.75133
TARGET= 0.74954
SL= 0.75259

COFFEE
SELL = 152.66
TARGET= 151.49
SL= 154.13

TESLA
SELL = 676.54
TARGET= 670.59
SL= 683.60

ETHEREUM
SELL = 2267.03
TARGET= 2247.15
SL= 2301.72

NIKKEI 225
SELL = 28586.0
TARGET = 28554.0
SL= 28649.0


Get Daily 10+ Buy/Sell Trading Signals - Click Here


https://www.capitalstreetfx.com/en/trade-signal/

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT TODAY – 09 JULY 2021​

Asia Pacific stocks are down Friday morning as concerns continue to mount about the spread of COVID-19 variants. The Shanghai composite is down 0.17% at 3,518.93. Overall, the Singapore MSCI up 0.77% at 353.45. Over in Hong Kong, the Hang Seng Index up 0.95% at 27,359. In Japan, the Nikkei 225 down 1.17% at 27,830, while the Topix index is down 0.94% at 1903.0. South Korea’s Kospi down 1.18% to 3212.70. Australia S&P/ASX 200 down 1.42% at 7237.5.
European equities Thursday closing. The DAX futures contract in Germany traded 1.73% down at 15420.64, CAC 40 futures down 2.01% at 6396.74 and the UK 100 futures contract in the U.K. down 0.10% at 7,031.7.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.75% at 34421.94. The S&P 500 up 0.86% to 4320.83 and the Nasdaq 100 down 0.13% at 14707.3, NYSE closes at 16359.69 down 1.21%.
In the Forex market, GBPUSD down 0.03% at 1.37668. The USDJPY up 0.22% at 109.99. The USDCHF up 0.11% at 0.91586. EURUSD down 0.06% at 1.18354, EUR/GBP up 0.03% at 0.859. The USD/CNY down 0.05% at 6.4864, at the time of writing.
In the commodity market U.S. Gold futures flat at $1,802.15. Elsewhere, Silver futures down 0.26% to $25.857 per ounce, Platinum down 0.26% at $1074.59 per ounce, and Palladium down 0.25% to $2,793.50.
Crude Oil mix on Friday; Brent crude oil down 0.27% at $74.16 barrel while U.S. West Texas Intermediate (CLc1) is up 0.63% at $73.13.
In the Cryptocurrency Markets, BTCUSD at 33032.71 up 0.41%, Ethereum at 2140.86 up 1.17%, Litecoin at 131.64 down 0.42%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
BIOGEN Inc. up 3.861% at $369.05, BOEING Co. up 2.153% at $236.77, ETSY Inc. up 1.617% to $196.02, CSX Corp. down 6.155% to $30.95, METLIFE Inc. down 3.654% to $56.69, EBAY Inc. down 2.027% at $68.65.
Economic news:
US: Low vaccination rates in some regions of the world pose a threat to the United States and global growth, Federal Reserve’s Mary Daly told the Financial Times, adding that the central bank was fully committed to eliminating shortfalls in employment.
Daly, president of the Federal Reserve Bank of San Francisco, said it was important for the rest of the world to reach higher rates of vaccination, and the inability to achieve that would be a “headwind” on U.S. economic growth.
“I think one of the biggest risks to our global growth, going forward, is that we prematurely declare victory on COVID-19,” Daly said in the interview published on Friday.
In the minutes of the central bank’s June policy meeting released on Wednesday, “various participants” felt conditions for reducing asset purchases would be “met somewhat earlier than they had anticipated.”
Eurozone: The European Central Bank took a step in the Federal Reserve’s direction with its new inflation target of 2%, while stopping short of a similar commitment to let the economy run hot after a recovery.
In announcing the results of its own long-running strategy review on Thursday, officials in Frankfurt said their new simpler approach “may also imply a transitory period in which inflation is moderately above target.” That contrasts with an explicit commitment from their U.S. counterparts to aim for a rate above its target after a period of weakness.
“Are we doing average inflation targeting like the Fed? The answer is no, very squarely,” ECB President Christine Lagarde said in a news briefing. “There are multiple ways to deal with the effective lower bound,” she said, referring to interest rates that are so low that central banks risk running out of ammunition.
The Fed last year decided to pursue an “average” 2% target, meaning it will let inflation overshoot during an economic upswing to make up for past shortfalls. The ECB decided to move away from its old goal of “below, but close to, 2%,” which was seen as vague and was drafted at a time when excessive price pressure was the main concern, not the opposite, as has been the case in the euro area in recent years.
Important Data: CANADA Employment Change (Jun) today at 8:30 this time estimated 195K, previously which was -68K. CANADA Unemployment Rate (Jun) today at 8:30 this time estimated 7.7%, previously which was 8.2%. UK Trade Balance Non-EU (May) today at 2:00 previously which was -5.55B. US Fed Monetary Policy Report today at 19:50.
TECHNICAL SUMMARY
GBPUSD

TRADE SUGGESTION- SELL AT 1.3767, TAKE PROFIT AT 1.37462 AND STOP LOSS AT 1.3792
EURUSD

TRADE SUGGESTION- SELL AT 1.18254, TAKE PROFIT AT 1.18031 AND STOP LOSS AT 1.18324
GBPJPY

TRADE SUGGESTION- SELL AT 151.518, TAKE PROFIT AT 151.347 AND STOP LOSS AT 151.623
CHFJPY

TRADE SUGGESTION- SELL AT 120.034, TAKE PROFIT AT 119.775 AND STOP LOSS AT 120.384
DAX 30

TRADE SUGGESTION- SELL AT 15488.5 TAKE PROFIT AT 15400.4 AND STOP LOSS AT 15541.5
WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 73.23 TAKE PROFIT AT 72.73 AND STOP LOSS AT 73.76
GOLD

TRADE SUGGESTION- BUY AT 1797.78, TAKE PROFIT AT 1807.78 AND STOP AT 1794.18
ETHEREUM

TRADE SUGGESTION- SELL AT 2117.98 TAKE PROFIT AT 2034.79 AND STOP AT 2232.51

 

[CSFXNEWS]

WEEKLY GLOBAL MARKETS TECHNICAL ANALYSIS REPORT – 12 JULY 2021​

Construction PMI (Jun), U.K.
WHEN: WHAT IT HAD INFLUENCED:
6th JULY 2021 GBP and its subsequent pairs
WHAT HAPPENED: The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager’s Index (PMI) measures the activity level of purchasing managers in the construction industry. A reading above 50 indicates expansion in the construction industry; a reading below indicates contraction.
GBPCAD was trading in the parallel channel, further upside can be seen in the coming days.
Initial Jobless Claims, U.S.
WHEN: WHAT IT HAD INFLUENCED:
8th JULY 2021 USD and its subsequent pairs
WHAT HAPPENED: Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.
USDMXN is trading in the parallel channel, further upside can be seen in the coming days.
Employment Change (Jun), CANADA
WHEN: WHAT IT HAD INFLUENCED:
9th JULY 2021 CAD and its subsequent pairs
WHAT HAPPENED: Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending.
USDMXN is trading in the down channel, further downside can be seen in the coming days.
Gold Has 3rd Weekly Gain With $1,800 Return
WHAT IT HAD INFLUENCED:
GOLD
WHAT HAPPENED: Gold posted a third straight weekly gain on Friday, returning to crucial $1,800 support. But outlook for the yellow metal’s fans remained muddy, with no certainty on how long it will take for the much-touted U.S. inflation to accelerate its gains.
Front-month gold futures on New York’s Comex settled at $1,810.60, up $10.40, or 1.5% on the day.
The benchmark gold futures have gained around $40, or 2.3%, since its last negative weekly close four weeks ago, when it also tumbled to a two-month low of $1,761.20.
Gold’s rise on Friday was fuelled by a weaker dollar. Both the U.S. currency and yields work in contrary mode to the precious metal.
GOLD is trading in the parallel channel; further upside can be seen if it breaks the channel upside and vice-versa.
Oil Has First Weekly Loss in Seven as OPEC Worry Tempers Bull Market
WHAT IT HAD INFLUENCED:
CRUDE OIL
WHAT HAPPENED:
Crude prices posted their first weekly loss since mid-May as worries about trouble within OPEC tempered the bull market for oil.
The loss was a tiny red bleep after six straight weeks of gains and looked small enough — just 6% on the week — for longs in the market to shrug off.
But the broader troubles within the 13-member Saudi-led Organization of the Petroleum Exporting Countries and its 10 oil producing allies led by Russia were large enough to remain on their minds.
New York-traded West Texas Intermediate crude, the benchmark for U.S. oil, settled Friday’s trade up $1.62, or 2.2%, at $74.56 a barrel.
London-traded Brent, the global benchmark for oil, settled Friday’s trade up $1.43, or 1.9%, at $75.55. For the week though, Brent lost 0.8%.
WTI CRUDE OIL is currently in the upward channel. Further upside can be seen in the coming week.
UK places crypto advertisements under “Red Alert”
WHAT IT HAD INFLUENCED:
BITCOIN
WHAT HAPPENED: Moving forward, the United Kingdom Advertising Standards Authority (ASA) will scrutinize all marketing related to cryptocurrencies, especially on social media.
Amid the U.K.’s seemingly harder stance on crypto regulations stance on the cryptocurrency business, authorities are planning to launch an effort this month to hunt and shut down deceptive crypto adverts.
ASA, the U.K. advertising industry’s watchdog, is spearheading efforts to regulate cryptocurrency ads. According to a report by the Financial Times, Miles Lockwood, ASA’s director of complaints, said the authority would particularly target irresponsible crypto ads being spread online and on social media platforms. He added:
Most crypto investments fall outside the scope of the UK’s strict rules for promoting traditional financial products, which are supervised by the Financial Conduct Authority. ASA is increasing its capacity to track bogus crypto ads using Artificial Intelligence (AI) and scraping.
Defaulting companies will be issued warnings and may be required to add disclaimers to their advertisements. Already a Bitcoin poster sponsored by cryptocurrency exchange Luno was taken down by ASA in May.
BTCUSD is trading in the parallel channel, further upside can be seen if it breaks the channel upside and vice-versa.
5 KEY EVENTS TO WATCH OUT
CPI (YoY) (Jun), U.K.
WHEN: WHAT IT INFLUENCES:
14th JULY 2021 GBP and its subsequent
pairs
WHAT’S HAPPENING: The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
A higher-than-expected reading ought to be taken as positive/bullish for the GBP, whereas a lower-than-expected reading should be taken as negative/bearish for the GBP.
Core Retail Sales (MoM) (Jun), U.S.
WHEN: WHAT IT INFLUENCES:
16th JULY 2021 USD and its subsequent
pairs
WHAT’S HAPPENING: Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy.
A higher-than-expected reading ought to be taken as positive/bullish for the USD, whereas a lower-than-expected reading should be taken as negative/bearish for the USD.
BoC Interest Rate Decision, CANADA
WHEN: WHAT IT INFLUENCES:
14th JULY 2021 CAD and its subsequent
pairs
WHAT’S HAPPENING: Bank of Canada (BOC) governing council members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short-term interest rates are the primary factor in currency valuation.
A higher-than-expected reading ought to be taken as positive/bullish for the CAD, whereas a lower-than-expected reading should be taken as negative/bearish for the CAD.
Employment Change (Jun), AUSTRALIA
WHEN: WHAT IT INFLUENCES:
14th JULY 2021 AUD and its subsequent
Pairs
WHAT’S HAPPENING: Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending.
A higher-than-expected reading ought to be taken as positive/bullish for the AUD, whereas a lower-than-expected reading should be taken as negative/bearish for the AUD.
GDP (YoY) (Q2), CHINA
WHEN: WHAT IT INFLUENCES:
14th JULY 2021 CNY and its subsequent
pairs
WHAT’S HAPPENING: Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.
A higher-than-expected reading ought to be taken as positive/bullish for the CNY, whereas a lower-than-expected reading should be taken as negative/bearish for the CNY.
EQUITIES IN THE COMING WEEK
1. JPMorgan (JPM) to announce its Quarterly Results on 13th JULY 2021, EPS estimated to 3.09 per share while revenue estimated 29.95B.
2. PepsiCo (PEP) to announce its Quarterly Results on 13th JULY 2021, EPS estimated to 1.52 per share while revenue estimated 17.94B.
3. Goldman Sachs (GS) to announce its Quarterly Results on 13th JULY 2021, EPS estimated to 9.41 per share while revenue estimated 11.89B.
4. Bank of America (BAC) to announce its Quarterly Results on 14th JULY 2021, EPS estimated to 0.7737 per share while revenue estimated 21.91B.
5. Morgan Stanley (MS) to announce its Quarterly Results on 15th JULY 2021, EPS estimated to 1.66 per share while revenue estimated 13.98B.
TOP COMMODITIES IN THE COMING WEEK
GOLD

GOLD is trading in the parallel channel; further upside can be seen if it breaks the channel upside and vice-versa.
SILVER

SILVER is trading in the parallel channel; further upside can be seen if it breaks the channel upside and vice-versa.
WTI CRUDE OIL

WTI CRUDE OIL is currently in the upward channel. Further upside can be seen in the coming week.
TOP CRYPTO IN THE COMING WEEK
BTCUSD

BTCUSD is trading in the parallel channel, further upside can be seen if it breaks the channel upside and vice-versa.
ETHEREUM

ETHEREUM is trading in the parallel channel, further upside can be seen if it breaks the channel upside and vice-versa.
TOP CURRENCY IN THE COMING WEEK
EURUSD

EURUSD is trading in the parallel channel, further upside can be seen if it breaks the channel upside and vice-versa.
GBPUSD

GBPUSD is trading in the parallel channel, further upside can be seen if it breaks the channel upside and vice-versa.
GBPJPY

GBPJPY is trading in the parallel channel, further upside can be seen if it breaks the channel upside and vice-versa.
TOP INDEX IN THE COMING WEEK
FTSE 100

FTSE 100 is currently in the up channel. Further upside can be seen in the coming week.
HANG SENG

HANG SENG is currently in the down channel. Further downside can be seen in the coming week.
NASDAQ 100

NASDAQ 100 is currently in an up channel. Further upside can be seen in the coming week.
DATA WATCH