Research Report 21st-october-2020
Asian stocks gain, yuan soars as traders bet on U.S. stimulus, again. The Shanghai composite is down 0.53% at 3,310. Overall, the Singapore MSCIup 0.50% to 292.3.Over in Hong Kong, the Hang Seng Index up by 0.75% to 24,751. In Japan, the Nikkei 225 up0.32% to 23,639 ,while the Topix index was up0.86% to 1639. South Korea’s Kospi up 0.42% to 2,366.93. Australia S&P/ASX 200 up0.12% to 6191.8.
European equities looked set to follow. The DAX futures contract in Germany traded 0.92% lower at 12736, CAC 40 futures in France flat at 4929.3 and the UK 100 futures contract in the U.K. up 0.08% to 5889.2.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down0.40 % to 28308, the S&P 500 up0.47% to 3443.1 and the Nasdaq Composite up1.18% to 128.99,NYSE closes at 13092down0.57%.
In the Forex market, GBPUSD up 0.25% to 1.29813. The USDJPY down 0.18% to 105.304 .The USDCHF down 0.11% at 0.90600.EURUSD up 0.21% at 1.18461, EUR/GBP down 0.03% at 0.91276. The USD/CNY down 0.37% at 6.6507, at the time of writing.
In the commodity market U.S. gold futures up 0.36%to $1,915.13. Elsewhere, Silver up 1.01% to $24.891 per ounce, platinum down 0.59% at $878.62 per ounce, and palladium down 0.33 % to $2,402.
Crude Oil down on Wednesday, Brent crude futures (LCOc1) down 0.09% to $42.74 a barrel while U.S. West Texas Intermediate (CLc1) futures is up 0.49%, to $41.33.
In the Cryptocurrency Markets, BTCUSD at 12264up2.91%, Ethereum at 380.77up 3.25%, Litecoin down 4.37% at 48.962, at the time of writing.
Corporate news: Western Digital (WDC) up 7.855% at $40.92, United Airlines Holdings(UAL) up 3.923% to $35.5, Appledown2.554% to $115.98, JP Morgan Chase & Co. down 1.685% to $99.8,Procter & Gamble down 1.718% to $141.91, Ross Stores Incdown4.373% at $90.96.
Economic news: US building permits (SEPT) rises from 1.476M to 1.553M
US:Building permits (SEPT) rises from 1.476M to 1.553M
Eurozone:The latest curbs in Ireland will see GDP fall by 3.5% this year, Finance Minister Paschal Donohoe said.
Important Data: UK CORE CPI (YOY-SEPT) stood at 0.5% earlier which was 0.2% and estimated at 0.5%.CANADA CORE CPI (MOM-SEPT) will be announced today at 8:30.UK public sector net borrowing increased from 29.38B to 35.37B estimated to be 32.4B.
TECHNICAL SUMMARY
GBPUSD
TRADE SUGGESTION- BUY AT 1.30, TAKE PROFIT AT 1.30557 AND STOP AT 1.29539
EURUSD
TRADE SUGGESTION- BUY AT 1.18809 , TAKE PROFIT AT 1.19139 AND STOP LOSS AT 1.18276
EURSEK
TRADE SUGGESTION- SELL AT 10.36678 , TAKE PROFIT AT 10.33471AND STOP AT 10.38081
USDZAR
TRADE SUGGESTION- SELL AT 16.47730 , TAKE PROFIT AT 16.29811 AND STOP AT 16.48726
FTSEMIB40
TRADE SUGGESTION- BUY AT 19572, TAKE PROFIT AT 19721 AND STOP AT 19403
GOLD
TRADE SUGGESTION- BUY AT 1924.96 TAKE PROFIT AT 1928.43 AND STOP AT 1912.18
CRUDE OIL
TRADE SUGGESTION- BUY AT 41.17, TAKE PROFIT AT 41.82 AND STOP AT 40.7
RIPPLE MINI
TRADE SUGGESTION- BUY AT 0.23360, TAKE PROFIT AT 0.239118 AND STOP AT 0.2296
Asian stocks gain, yuan soars as traders bet on U.S. stimulus, again. The Shanghai composite is down 0.53% at 3,310. Overall, the Singapore MSCIup 0.50% to 292.3.Over in Hong Kong, the Hang Seng Index up by 0.75% to 24,751. In Japan, the Nikkei 225 up0.32% to 23,639 ,while the Topix index was up0.86% to 1639. South Korea’s Kospi up 0.42% to 2,366.93. Australia S&P/ASX 200 up0.12% to 6191.8.
European equities looked set to follow. The DAX futures contract in Germany traded 0.92% lower at 12736, CAC 40 futures in France flat at 4929.3 and the UK 100 futures contract in the U.K. up 0.08% to 5889.2.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down0.40 % to 28308, the S&P 500 up0.47% to 3443.1 and the Nasdaq Composite up1.18% to 128.99,NYSE closes at 13092down0.57%.
In the Forex market, GBPUSD up 0.25% to 1.29813. The USDJPY down 0.18% to 105.304 .The USDCHF down 0.11% at 0.90600.EURUSD up 0.21% at 1.18461, EUR/GBP down 0.03% at 0.91276. The USD/CNY down 0.37% at 6.6507, at the time of writing.
In the commodity market U.S. gold futures up 0.36%to $1,915.13. Elsewhere, Silver up 1.01% to $24.891 per ounce, platinum down 0.59% at $878.62 per ounce, and palladium down 0.33 % to $2,402.
Crude Oil down on Wednesday, Brent crude futures (LCOc1) down 0.09% to $42.74 a barrel while U.S. West Texas Intermediate (CLc1) futures is up 0.49%, to $41.33.
In the Cryptocurrency Markets, BTCUSD at 12264up2.91%, Ethereum at 380.77up 3.25%, Litecoin down 4.37% at 48.962, at the time of writing.
Corporate news: Western Digital (WDC) up 7.855% at $40.92, United Airlines Holdings(UAL) up 3.923% to $35.5, Appledown2.554% to $115.98, JP Morgan Chase & Co. down 1.685% to $99.8,Procter & Gamble down 1.718% to $141.91, Ross Stores Incdown4.373% at $90.96.
Economic news: US building permits (SEPT) rises from 1.476M to 1.553M
US:Building permits (SEPT) rises from 1.476M to 1.553M
Eurozone:The latest curbs in Ireland will see GDP fall by 3.5% this year, Finance Minister Paschal Donohoe said.
Important Data: UK CORE CPI (YOY-SEPT) stood at 0.5% earlier which was 0.2% and estimated at 0.5%.CANADA CORE CPI (MOM-SEPT) will be announced today at 8:30.UK public sector net borrowing increased from 29.38B to 35.37B estimated to be 32.4B.
TECHNICAL SUMMARY
GBPUSD
TRADE SUGGESTION- BUY AT 1.30, TAKE PROFIT AT 1.30557 AND STOP AT 1.29539
EURUSD
TRADE SUGGESTION- BUY AT 1.18809 , TAKE PROFIT AT 1.19139 AND STOP LOSS AT 1.18276
EURSEK
TRADE SUGGESTION- SELL AT 10.36678 , TAKE PROFIT AT 10.33471AND STOP AT 10.38081
USDZAR
TRADE SUGGESTION- SELL AT 16.47730 , TAKE PROFIT AT 16.29811 AND STOP AT 16.48726
FTSEMIB40
TRADE SUGGESTION- BUY AT 19572, TAKE PROFIT AT 19721 AND STOP AT 19403
GOLD
TRADE SUGGESTION- BUY AT 1924.96 TAKE PROFIT AT 1928.43 AND STOP AT 1912.18
CRUDE OIL
TRADE SUGGESTION- BUY AT 41.17, TAKE PROFIT AT 41.82 AND STOP AT 40.7
RIPPLE MINI
TRADE SUGGESTION- BUY AT 0.23360, TAKE PROFIT AT 0.239118 AND STOP AT 0.2296