Daily Technical Analysis Report By Capital Street Fx

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT–09 MARCH 2021​

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

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

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

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

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

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

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

TOP STOCKS TO WATCH OUT TODAY:

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

Economic news:

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

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

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

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

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

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

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

TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT – 10 MARCH 2021​

Asia Pacific stocks were mostly up Wednesday morning. The Shanghai composite is up 0.18% at 3,365.20. Overall, the Singapore MSCI down 1.61% at 346.05. Over in Hong Kong, the Hang Seng Index down 0.14% to 28,736. In Japan, the Nikkei 225 down 0.20% at 29,020, while the Topix index is down 0.16% at 1916.5. South Korea’s Kospi down 0.62% to 2957.64. Australia S&P/ASX 200 down 0.84% at 6714.1.
European equities Tuesday closing. The DAX futures contract in Germany traded 0.40% up at 14437.94, CAC 40 futures up 0.37% at 5925.0 and the UK 100 futures contract in the U.K. down 0.53% at 6,695.6.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.10% up at 31832.7, the S&P 500 up 1.42% to 3875.4 and the Nasdaq 100 down 0.24% at 12762.7, NYSE closes at 15375.62 up 0.57%.
In the Forex market, GBPUSD down 0.23% at 1.38547. The USDJPY up 0.37% at 108.881. The USDCHF up 0.27% at 0.93009. EURUSD down 0.21% at 1.18748, EUR/GBP up 0.13% at 0.85704. The USD/CNY up 0.12% at 6.5129, at the time of writing.
In the commodity market U.S Gold futures down 0.14% at $1,713.00. Elsewhere, Silver futures down 0.61% to $25.757 per ounce, Platinum down 0.81% at $1158.51 per ounce, and Palladium up 0.20% to $2,307.00.
Crude Oil down on Wednesday; Brent crude oil down 0.66% to $66.72 barrel while U.S. West Texas Intermediate (CLc1) is down 1.03% at $64.40.
In the Cryptocurrency Markets, BTCUSD at 54060.00 down 1.21%, Ethereum at 1801.65 down 3.80%, Litecoin at 195.45 down 4.19%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
TESLA Inc. up 19.641% at $673.58, ETSY Inc. up 8.688% at $206.79, NVIDIA Corp. up 8.033% to $500.81, DISCOVERY Inc. down 6.305% to $63.01, BIOGEN Inc. down 1.304% to $266.49, WALT DISNEY Co. down 3.665% at $194.51.
Economic news:
US: President Joe Biden’s name will not appear on the memo line of stimulus checks that will be issued to most Americans following passage of his coronavirus aid bill, the White House said on Tuesday.
Then-President Donald Trump had asked that the Internal Revenue Service (IRS) put his name on the first round of stimulus checks issued during the COVID-19 pandemic last year.
White House press secretary Jen Psaki said doing so was not a priority for Biden.
“The president will not appear on the line of the check,” she told reporters. “It will be signed by the career official. This is not about him. This is about the American people getting relief.”
Biden is expected to sign the $1.9 trillion aid bill as soon as this week after the House of Representatives takes up the bill on Wednesday. The chamber, which is controlled by Biden’s fellow Democrats, is expected to approve the bill along party lines.
Eurozone: The European Central Bank stepped up the pace of its emergency bond-buying last week after policy makers issued repeated warnings that a recent rise in yields threatens to derail the region’s economic recovery.
Gross purchases settled under its pandemic emergency program totaled 18.2 billion euros ($21.6 billion) in the week ended March 5, compared with 16.9 billion euros a week a earlier. The ECB also said 6.3 billion euros of debt was redeemed, contributing to the relatively muted pace of net buying reported a day earlier.
Neither set of data reflects orders made Thursday and Friday, as transactions take a couple of days to settle and show up in the central bank’s accounts.
German bonds held near the day’s highs after the report, with 10-year yields falling five basis points to -0.33%. Those in Italy led the region’s gains, narrowing the spread over Germany by three basis points to 101.
Important Data: US Core CPI (MoM) (Feb) today at 8:30 this time estimated 0.2%, previously which was 0.1%. US Crude Oil Inventories today at 10:30 this time estimated 0.816M, previously which was 21.563M. US Federal Budget Balance (Feb) today at 14:00 previously which was -163B. UK RICS House Price Balance (Feb) today at 19:01 previously which was 50%.
TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT – 12 MARCH 2021​

Asian shares pushed higher on Friday after U.S. President Joe Biden signed a $1.9 trillion stimulus bill into law, and as a retreat in bond yields overnight eased global concerns about rising inflation. The Shanghai composite is up 0.17% at 3,442.23. Overall, the Singapore MSCI up 0.01% at 350.65. Over in Hong Kong, the Hang Seng Index down 0.30% to 29,190. In Japan, the Nikkei 225 up 0.96% at 29,500, while the Topix index is up 0.26% at 1931.5. South Korea’s Kospi up 1.36% to 3055.06. Australia S&P/ASX 200 up 0.79% at 6766.8.
European equities Thursday closing. The DAX futures contract in Germany traded 0.20% up at 14569.39, CAC 40 futures up 0.72% at 6033.8 and the UK 100 futures contract in the U.K. up 0.17% at 6,737.0.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.58% up at 32485.6, the S&P 500 up 1.04% to 3939.3 and the Nasdaq 100 down 0.17% at 13030.4, NYSE closes at 15648.05 up 0.81%.
In the Forex market, GBPUSD down 0.14% at 1.39728. The USDJPY up 0.24% at 108.750. The USDCHF up 0.36% at 0.92651. EURUSD down 0.17% at 1.19631, EUR/GBP down 0.05% at 0.85613. The USD/CNY down 0.07% at 6.4887, at the time of writing.
In the commodity market U.S Gold futures down 0.29% at $1,717.10. Elsewhere, Silver futures down 0.63% to $25.930 per ounce, Platinum up 0.60% at $1203.09 per ounce, and Palladium down 0.26% to $2,346.00.
Crude Oil mix on Friday; Brent crude oil down 0.23% to $69.39 barrel while U.S. West Texas Intermediate (CLc1) is up 1.35% at $65.52.
In the Cryptocurrency Markets, BTCUSD at 57164.68 down 1.05%, Ethereum at 1809.48 down 0.92%, Litecoin at 209.96 up 4.25%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
ETSY Inc. up 7.24% at $220.84, TWITTER Inc. up 5.599% at $68.46, GENERAL ELECTRIC down 7.396% to $12.27, WESTROCK Co. down 2.504% to $51.39, WORKDAY Inc. up 5.999% to $257.27, ZOOM VIDEO COMMUNICATION up 5.696% at $355.17.
Economic news:
US: The U.S. economy will grow faster than previously thought and reach pre-COVID-19 levels within six months, according to a majority of economists polled by Reuters who however said unemployment would take well over a year to recover.
Optimism was largely driven by the House of Representatives passing President Joe Biden’s $1.9 trillion relief aid in response to the pandemic, which has killed around 530,000 people in the U.S. and left millions out of work.
After shrinking 3.5% last year, the world’s largest economy was forecast to grow 5.7% this year – the highest since polling began for this period over two years ago, according to the March 8-11 survey of over 100 economists.
In response to an additional question, 85% of economists, or 51 of 60, said the economy would reach pre-COVID-19 levels within a year, including more than 60% expecting it within six months
Eurozone: British finance minister Rishi Sunak said on Thursday he did not favour setting a specific target for the level of public debt as a share of economic output, as broader criteria were better suited for future fiscal rules.
“It’s probably right to think more about trajectories of debt levels, building resilience for future shocks and the affordability of that debt,” Sunak told parliament’s Treasury Committee.
Last week Sunak announced a new budget plan which included a further 65 billion pounds ($91 billion) in stimulus to help the economy through what he hopes will be a gradual lifting of coronavirus restrictions between now and the end of June.
Britain’s public debt has leapt to more than 2 trillion pounds as a result of the huge increase in spending and tax cuts ordered by Sunak in response to COVID-19, and it is expected to be above 100% of gross domestic product until at least the mid-2020s
Important Data: UK GDP (MoM) today at 2:00 this time estimated -4.9%, previously which was 1.2%. UK Manufacturing Production (MoM) (Jan) today at 2:00 this time estimated -0.8%, previously which was 0.3%. US PPI (MoM) (Feb) today at 8:30 this time estimated 0.5%, previously which was 1.3%. CANADA Employment Change (Feb) today at 8:30 this time estimated 75K, previously which was -212.8K.
TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT – 16 MARCH 2021​

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

 

[CSFXNEWS]

TECHNICAL ANALYSIS OF THE FINANCIAL MARKETS – 17 MARCH 2021​

Asia Pacific stocks were mostly down Wednesday morning ahead of the U.S. Federal Reserve’s policy decision due later in the day. The Shanghai composite is down 0.03% at 3,445.63. Overall, the Singapore MSCI down 0.09% at 350.40. Over in Hong Kong, the Hang Seng Index up 0.15% to 28,995. In Japan, the Nikkei 225 up 0.07% at 29,740, while the Topix index is up 0.31% at 1966.0. South Korea’s Kospi down 0.54% to 3050.65. Australia S&P/ASX 200 down 0.47% at 6795.2.
European equities Tuesday closing. The DAX futures contract in Germany traded 0.66% up at 14557.58, CAC 40 futures up 0.32% at 6055.4 and the UK 100 futures contract in the U.K. up 0.80% at 6,803.6.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.39% up at 32826.0, the S&P 500 down 0.16% to 3962.7 and the Nasdaq 100 down 0.11% at 13154.9, NYSE closes at 15669.29 down 0.67%.
In the Forex market, GBPUSD up 0.06% at 1.39. The USDJPY up 0.09% at 109.086. The USDCHF up 0.09% at 0.92543. EURUSD up 0.05% at 1.19076, EUR/GBP up 0.01% at 0.85654. The USD/CNY down 0.08% at 6.4998, at the time of writing.
In the commodity market U.S Gold futures up 0.31% at $1,736.46. Elsewhere, Silver futures up 0.01% to $25.919 per ounce, Platinum down 0.33% at $1209.33 per ounce, and Palladium down 0.38% to $2,489.50.
Crude Oil mix on Wednesday; Brent crude oil up 0.42% to $68.76 barrel while U.S. West Texas Intermediate (CLc1) is down 0.44% at $64.89.
In the Cryptocurrency Markets, BTCUSD at 56182.31 down 1.28%, Ethereum at 1783.29 down 1.24%, Litecoin at 199.45 down 1.15%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
DISCOVERY Inc. up 2.905% at $75.81, MICRON TECHNOLOGY up 2.904% at $91.43, FORD MOTOR Co. down 5.379% to $12.49, CARNIVAL Corp. up 5.17% to $28.25, MODERNA Inc. up 8.604% to $156.02, FACEBOOK up 2.02% at $279.28.
Economic news:
US: U.S. companies are opting to issue bonds with fixed coupons rather than floating rates as the spectre of a rapid rise in yields impels them to lock in their costs of borrowing.
Refinitiv data showed U.S. companies have issued $456 billion through fixed-coupon bonds until March 15, a 12% increase over the same period last year.
At the same time, they have borrowed just $77 billion through floating-rate bonds in that period, a 33% decline.
Eurozone: The European Central Bank won’t allow interest rates to rise too soon while the economy still grapples with the coronavirus pandemic, according to its chief economist.
“Our objective is basically to make sure the yield curves, which play an important role in determining overall financing conditions, do not move ahead of the economy,” Philip Lane said in an interview with the Financial Times.
“It is really a shift in monetary policy away from focusing on just the short-term rate by looking at all financing conditions,” because long-dated yields are key too.
Policy makers decided last week to “significantly” increase the pace of buying in coming months amid concerns that higher yields will pull the rug out from under the euro-area economic recovery.
Important Data: EURO ZONE CPI (YoY) (Feb) today at 6:00 this time estimated 0.9%, previously which was 0.9%. US Building Permits (Feb) today at 8:30 this time estimated 1.75M, previously which was 1.886M. CANADA Core CPI (MoM) (Feb) today at 8:30 previously which was 0.5%. US Crude Oil Inventories today at 10:30 this time estimated 2.964M, previously which was 13.798M.
TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT – 18 MARCH 2021​

Asia Pacific stocks were mostly up Thursday morning. The Shanghai composite is up 0.27% at 3,454.97. Overall, the Singapore MSCI up 0.84% at 354.45. Over in Hong Kong, the Hang Seng Index up 1.53% to 29,433. In Japan, the Nikkei 225 up 1.08% at 30,030, while the Topix index is up 1.53% at 1992.0. South Korea’s Kospi up 0.62% to 3066.53. Australia S&P/ASX 200 down 0.73% at 6745.9.

European equities Wednesday closing. The DAX futures contract in Germany traded 0.27% up at 14596.61, CAC 40 futures down 0.01% at 6054.8 and the UK 100 futures contract in the U.K. down 0.60% at 6,762.7.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.58% up at 33015.4, the S&P 500 up 0.29% to 3974.1 and the Nasdaq 100 up 0.38% at 13202.4, NYSE closes at 15731.14 up 0.39%.

In the Forex market, GBPUSD up 0.02% at 1.39616. The USDJPY up 0.04% at 108.878. The USDCHF up 0.07% at 0.92308. EURUSD down 0.07% at 1.19687, EUR/GBP down 0.03% at 0.85724. The USD/CNY down 0.13% at 6.4947, at the time of writing.

In the commodity market U.S Gold futures up 0.37% at $1,750.90. Elsewhere, Silver futures up 1.08% to $26.530 per ounce, Platinum up 0.52% at $1220.78 per ounce, and Palladium up 0.99% to $2,600.50.

Crude Oil down on Thursday; Brent crude oil down 0.19% to $67.62 barrel while U.S. West Texas Intermediate (CLc1) is down 0.14% at $64.80.

In the Cryptocurrency Markets, BTCUSD at 58851.98 down 0.08%, Ethereum at 1825.48 up 0.23%, Litecoin at 206.91 up 0.53%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

GENERAL MOTORS up 5.13% at $60.05, DOW Inc up 4.479% at $66.01, UNITED AIRLINES up 4.414% at $62.45, COMCAST Corp. down 0.93% at $57.50, FACEBOOK Inc. at 1.694% at $284.01, AMGEN Inc. up 1.644% at $244.27, 3M Co. up 0.776% at $188.3.

Economic news:

US: The global economy is set to grow by 4.7% this year thanks to a stronger-than-expected recovery in the United States, a report by the U.N. Conference on Trade and Development (UNCTAD) said on Thursday, revising up its previous forecast of 4.3%.

The upwards revision from its previous forecast made last September factors in an expected boost in U.S. consumer spending on the back of progress distributing COVID-19 vaccines and a vast stimulus package, the report said.

“The global recovery that began in the third quarter of 2020 is expected to continue through 2021, albeit with a good deal of unevenness and unpredictability, reflecting epidemiological, policy and coordination uncertainties,” the report said.

Eurozone: The Bank of England will probably try on Thursday to keep a lid on expectations that Britain’s economy is heading for a strong, vaccine-boosted recovery after suffering its worst crash in three centuries last year.

The central bank is not expected to change its huge, crisis-fighting stimulus programme at 1200 GMT, after its March policy meetings.

Instead, investors will be trying to gauge how confident it is that Europe’s fastest COVID-19 vaccination campaign and yet more spending and tax cuts in finance minister Rishi Sunak’s March 3 budget will trigger a bounce-back in the months ahead.

BoE Governor Andrew Bailey said on Monday he was more optimistic about the recovery. But he stressed his view came “with a large dose of caution” with Britain still in the grip of a third lockdown and facing the risk of new COVID-19 variants.

Important Data: US Initial Jobless Claims today at 8:30 this time estimated 700K, previously which was 712K. AUSTRALIA Retail Sales (MoM) today at 20:30 previously which was 0.5%. UK BoE Interest Rate Decision (Mar) today at 8:00 this time estimated 0.1%, previously which was 0.1%. EURO ZONE Wages in euro zone (YoY) (Q4) today at 6:00 previously which was 2.2%.

TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT – 24 MARCH 2021​

Asia Pacific stocks were mostly down Wednesday morning. The Shanghai composite is down 1.36% at 3,365.20. Overall, the Singapore MSCI up 0.09% at 352.65. Over in Hong Kong, the Hang Seng Index down 2.24% to 27,842. In Japan, the Nikkei 225 down 1.80% at 28,300, while the Topix index is down 2.04% at 1919.0. South Korea’s Kospi down 0.31% to 2995.55. Australia S&P/ASX 200 up 0.50% at 6778.8.
European equities Tuesday closing. The DAX futures contract in Germany traded 0.03% up at 1465762.02, CAC 40 futures down 0.39% at 5945.3 and the UK 100 futures contract in the U.K. down 0.40% at 6,699.2.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.94% at 32423.2, the S&P 500 down 0.76% to 3910.5 and the Nasdaq 100 down 0.53% at 13017.8, NYSE closes at 15346.52 down 1.32%.
In the Forex market, GBPUSD down 0.24% at 1.37124. The USDJPY down 0.06% at 108.503. The USDCHF up 0.05% at 0.93448. EURUSD down 0.05% at 1.18420, EUR/GBP up 0.31% at 0.86353. The USD/CNY up 0.14% at 6.5254, at the time of writing.
In the commodity market U.S Gold futures up 0.26% at $1,731.58. Elsewhere, Silver futures up 0.21% to $25.123 per ounce, Platinum up 0.25% at $1169.38 per ounce, and Palladium up 0.10% to $2,604.50.
Crude Oil mix on Wednesday; Brent crude oil up 0.96% to $60.98 barrel while U.S. West Texas Intermediate (CLc1) is down 0.94% at $63.16.
In the Cryptocurrency Markets, BTCUSD at 53766.76 down 1.09%, Ethereum at 1662.92 down 0.43%, Litecoin at 190.00 up 2.11%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
NETFLIX Inc. up 2.29% at $535.09, GAP Inc. down 7.715% at $27.87, INTEL Corp. down 3.276% at $63.48, DOW Inc. down 4.346% at $60.75, BOEING Co. down 3.973% at $241.25, GOLDMAN SACHS at 2.228% at $331.77, HONEYWELL Inter. down 1.669% at $208.59, JP MORGAN Chase down 1.0% at $149.46.
Economic news:
US: The U.S. Treasury said on Tuesday it would issue further guidance on a contested provision in President Joe Biden’s $1.9 trillion coronavirus relief package that prohibits states from using stimulus money to replace revenue lost to tax cuts.
The provision has drawn criticism from 21 Republican state attorneys general, with Ohio’s top lawyer suing the Biden administration last week, arguing that broad language in the American Rescue Plan Act violated the state’s constitutional right to determine its own tax policies.
Treasury Secretary Janet Yellen said in a written response to those concerns: “It is well established that Congress may place such reasonable conditions on how states may use federal funding.”
“Nothing in the act prevents states from enacting a broad variety of tax cuts,” Yellen said, refuting the attorneys general arguments that the stimulus measure denies states the ability to cut taxes in any manner whatsoever.
Eurozone: The City of London may be better off staying out of the EU’s financial services market as it would have to sacrifice autonomy over setting rules to win full access, a report by Britain’s upper house of parliament said on Wednesday.
The European Union has yet to grant Britain direct financial market access after it left the bloc on Dec. 31 and large amounts of trading in stocks and derivatives denominated in euros has shifted to Amsterdam from London.
Brussels will consider whether to grant full access, known as equivalence, once it has agreed a memorandum of understanding with Britain on a new forum for cooperating on financial rules, an agreement that is due by the end of March.
“We agree that broad positive equivalence determinations would best meet the needs of practitioners in both the UK and the EU, but recognise that in many areas the EU is unlikely to grant these without the UK sacrificing more decision-making autonomy than equivalence is worth,” the lawmaker’s report said.
Important Data: UK CPI (YoY) (Feb) today at 3:00 this time estimated 0.8%, previously which was 0.7%. UK Services PMI (Mar) today at 5:30 previously which was 49.5. US Core Durable Goods Orders (MoM) (Feb) today at 8:30 this time estimated 0.6%, previously which was 1.3%. US Crude Oil Inventories today at 10:30 previously which was 2.396M.
TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT – 25 MARCH 2021​

Asia Pacific stocks were mostly up Thursday morning. The Shanghai composite is down 0.07% at 3,364.65. Overall, the Singapore MSCI up 0.59% at 355.90. Over in Hong Kong, the Hang Seng Index down 0.01% to 27,873. In Japan, the Nikkei 225 up 1.45% at 28,600, while the Topix index is up 1.54% at 1942.5. South Korea’s Kospi up 0.27% to 3004.71. Australia S&P/ASX 200 up 0.17% at 6790.6.
European equities Wednesday closing. The DAX futures contract in Germany traded 0.35% down at 14610.39, CAC 40 futures up 0.03% at 5947.3 and the UK 100 futures contract in the U.K. up 0.20% at 6,712.9.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.01% at 32420.1, the S&P 500 down 0.55% to 3889.1 and the Nasdaq 100 up 0.09% at 12825.2, NYSE closes at 15276.56 down 0.46%.
In the Forex market, GBPUSD up 0.034% at 1.36875. The USDJPY up 0.24% at 108.977. The USDCHF up 0.03% at 0.93592. EURUSD up 0.03% at 1.18160, EUR/GBP up 0.07% at 0.86328. The USD/CNY up 0.14% at 6.5335, at the time of writing.
In the commodity market U.S Gold futures up 0.02% at $1,734.37. Elsewhere, Silver futures up 0.09% to $25.060 per ounce, Platinum up 0.11% at $1168.83 per ounce, and Palladium down 0.09% to $2,632.50.
Crude Oil mix on Thursday; Brent crude oil down 1.78% to $63.01 barrel while U.S. West Texas Intermediate (CLc1) is up 0.49% at $63.47.
In the Cryptocurrency Markets, BTCUSD at 53053.23 up 1.46%, Ethereum at 1594.88 up 0.71%, Litecoin at 177.42 up 0.70%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
ETSY Inc. down 9.328% at $199.18, DISCOVERY Inc. down 13.415% at $54.54, TESLA Inc. down 4.816% at $630.27, EBAY Inc. down 4.427% at $57.64, FINSERV Inc. up 1.616% at $123.25, BAIDU Inc. down 8.549% at $239.19, WORKDAY Inc. down 4.398% at $246.07, JD.Com Inc. down 5.317% at $79.07.
Economic news:
US: San Francisco Federal Reserve President Mary Daly on Wednesday said the U.S. economy is a “long way” from its goals, as she noted little upward pressure on wages and remarked on the absence of froth in financial conditions, all suggestive of support for keeping the Fed’s foot on the monetary gas pedal.
Asked her view of the appropriate timing for the Fed’s first interest rate hike, however, Daly declined to say. She told reporters on a call that what’s important is that people “completely understand” the Fed won’t raise rates until employment shortfalls have been eliminated and inflation is not only running at 2% but is also projected to exceed that for some time. “We are not there yet,” she said. “The important thing right now, I think for everyone, is a healthy dose of patience.”
Eurozone: Danish toymaker Lego on Wednesday won the backing of Europe’s second-highest court in its fight to secure design rights for its colourful snap-together plastic building bricks familiar to millions of children worldwide.
The Luxembourg-based General Court threw out a 2019 decision by the European Union Intellectual Property Office (EUIPO) that sided with German toy and hardware maker Delta Sport Handelskontor which had sought to declare Lego’s design invalid.
Lego challenged that ruling at the court, which on Wednesday disagreed with the trademark agency’s assessment.
“EUIPO erroneously declared invalid a design of a brick of a LEGO toy building set,” judges said.
“EUIPO failed to examine the relevance of the application of the exception relied on by Lego and failed to take into consideration all the features of appearance of the brick,” they said.
Important Data: US GDP (QoQ) (Q4) today at 8:30 this time estimated 4.1%, previously which was 33.4%. US Initial Jobless Claims today at 8:30 this time estimated 730K, previously which was 770K. JAPAN Tokyo Core CPI (YoY) (Mar) today at 19:30 this time estimated -0.2%, previously which was -0.3%. JAPAN CPI Tokyo Ex Food and Energy (MoM) (Mar) today at 19:30 previously which was 0.1%.
TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT – 26 MARCH 2021​

Asian shares bounced back from a three-month low on Friday. The Shanghai composite is up 1.37% at 3,409.31. Overall, the Singapore MSCI up 0.46% at 357.50. Over in Hong Kong, the Hang Seng Index up 1.15% to 28,176. In Japan, the Nikkei 225 up 1.33% at 29,000, while the Topix index is up 1.21% at 1966.0. South Korea’s Kospi up 0.80% to 3032.45. Australia S&P/ASX 200 up 0.60% at 6831.1.
European equities Thursday closing. The DAX futures contract in Germany traded 0.08% down at 14621.36, CAC 40 futures up 0.09% at 5952.4 and the UK 100 futures contract in the U.K. down 0.57% at 6,674.8.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.62% at 32619.5, the S&P 500 up 0.52% to 3909.5 and the Nasdaq 100 down 0.14% at 12780.5, NYSE closes at 15410.37 up 0.88%.
In the Forex market, GBPUSD up 0.20% at 1.37580. The USDJPY up 0.08% at 109.266. The USDCHF up 0.08% at 0.94017. EURUSD up 0.10% at 1.17751, EUR/GBP down 0.05% at 0.85587. The USD/CNY up 0.07% at 6.5424, at the time of writing.
In the commodity market U.S Gold futures down 0.04% at $1,725.93. Elsewhere, Silver futures up 0.16% to $25.078 per ounce, Platinum up 0.56% at $1153.41 per ounce, and Palladium up 0.79% to $2,630.72.
Crude Oil down on Friday; Brent crude oil down 1.08% to $62.47 barrel while U.S. West Texas Intermediate (CLc1) is down 6.95% at $59.06.
In the Cryptocurrency Markets, BTCUSD at 52477.96 up 2.24%, Ethereum at 1618.39 up 2.03%, Litecoin at 174.99 up 2.03%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
GAP Inc. up 5.007% at $28.73, WESTROCK Co. up 4.937% at $51.86, LENNAR Corp. up 4.744% at $99.14, AMERICAN AIRLINES. up 4.402% at $22.77, MSCI Inc. down 2.825% at $412.05, NIKE Inc. down 3.394% at $128.64, BIOGEN Inc. up 3.116% at $273.97, NETFLIX Inc. down 3.447% at $502.86.
Economic news:
US: The U.S. Senate confirmed the nomination of Wally Adeyemo as deputy secretary of the Treasury on Thursday, making him the first Black American to hold the powerful job.
Treasury Secretary Janet Yellen welcomed the Senate vote, calling Adeyemo “a master of shuttle economic diplomacy” who would help meld U.S. economic and national security interests.
Adeyemo, 39, has struck a hard-line tone on China, vowing to fight what he called Beijing’s “unfair economic practices” and hold China accountable to international rules.
Adeyemo will play a key role in shaping U.S. economic policy on issues ranging from financial regulation to relief for everyday Americans and U.S. sanctions on foreign governments.
A former senior adviser at asset manager BlackRock Inc (NYSE:BLK) and the child of Nigerian immigrants, Adeyemo served as a top national security and economic adviser to Democratic former President Barack Obama and held senior jobs at the Treasury.
Yellen said Adeyemo was also “a tireless advocate for the working class” who helped build the Consumer Financial Protection Bureau after the global financial crisis of 2008-2009.
Eurozone: The European Union’s plan to take on joint debt on a large scale and channel the money to member states worst hit by COVID-19 will create an important tool to overcome the crisis, but it must remain a one-off event, German Chancellor Angela Merkel said on Thursday.
She spoke to the Bundestag lower house of parliament before it voted to approve the legislation for the EU plan. The upper house, or Bundesrat, is expected to pass it on Friday.
“In the debate today, it will be made clear again that the recovery fund is a one-off instrument limited in time and purpose,” Merkel said, adding that it was an “indispensable” tool to help overcome the COVID-19 economic crisis.
Important Data: UK Retail Sales (MoM) (Feb) today at 3:00 this time estimated 2.1%, previously which was -8.2%. UK German Ifo Business Climate Index (Mar) today at 5:00 this time estimated 93.2, previously which was 92.4. US Federal Budget today previously which was -430.0B. EUROZONE Leaders’ Summit today at 6:00.
TECHNICAL SUMMARY

 

[CSFXNEWS]

TECHNICAL ANALYSIS REPORT – 29 MARCH 2021​

Asian shares up on Monday. The Shanghai composite is up 1.63% at 3,418.32. Overall, the Singapore MSCI up 0.98% at 360.85. Over in Hong Kong, the Hang Seng Index down 0.13% to 28,253. In Japan, the Nikkei 225 up 1.17% at 29,440, while the Topix index is up 1.17% at 1966.0. South Korea’s Kospi up 1.09% to 3041.01. Australia S&P/ASX 200 up 0.49% at 6824.2.
European equities Friday closing. The DAX futures contract in Germany traded 0.87% up at 14748.94, CAC 40 futures up 0.61% at 5988.8 and the UK 100 futures contract in the U.K. up 0.99% at 6,640.6.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.39% at 33072.9, the S&P 500 up 1.66% to 3974.5 and the Nasdaq 100 up 1.55% at 12979.1, NYSE closes at 15682.53 up 1.77%.
In the Forex market, GBPUSD up 0.37% at 1.37814. The USDJPY up 0.45% at 109.669. The USDCHF down 0.06% at 0.93889. EURUSD up 0.25% at 1.17930, EUR/GBP down 0.17% at 0.85483. The USD/CNY up 0.05% at 6.5412, at the time of writing.
In the commodity market U.S Gold futures down 0.24% at $1,730.90. Elsewhere, Silver futures up 0.04% to $25.046 per ounce, Platinum up 3.27% at $1184.50 per ounce, and Palladium up 2.51% to $2,675.00.
Crude Oil up on Monday; Brent crude oil up 4.16% to $64.37 barrel while U.S. West Texas Intermediate (CLc1) is up 4.17% at $61.52.
In the Cryptocurrency Markets, BTCUSD at 56203.11 up 0.65%, Ethereum at 1716.18 up 0.15%, Litecoin at 185.83 up 0.91%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
HP Inc. up 5.922% at $31.66, NUCOR Corp. up 8.899% at $79.30, TESLA Inc. down 3.385% at $618.71, COMCAST Corp. down 1.989% at $55.18, MICROCHIP
Tech. up 5.613% at $155.42, MARVELL Tech. up 4.961% at $46.97, OKTA Inc. down 2.371% at $212.45, MODERNA Inc. down 0.038% at $133.28.
Economic news:
US: The United States on Friday blocked Venezuela from proceeding with its dispute over Washington’s sanctions at the World Trade Organization, seizing on the issue to underscore its rejection of Nicolas Maduro as the country’s legitimate president.
Venezuela had planned to request the formation of a WTO panel to rule on whether sanctions the United States imposed in 2018 and 2019 breached global trading rules.
The United States asked for the request to be removed, which Venezuela refused to do, prompting the trade body to suspend a meeting about this and other trade matters at the start, a Geneva-based trade official said.
U.S. Trade Representative spokesman Adam Hodge said the panel request was illegitimate because the Maduro administration did not speak on behalf of the Venezuelan people.
“The United States will reject any effort by Maduro to misuse the WTO to attack U.S. sanctions aimed at restoring human rights and democracy to Venezuela,” he said in a statement.
Eurozone: The European Central Bank must remain a key stabilizer of the euro zone economy as the bloc is at risk of suffering longer-term damage from its pandemic-induced double-dip recession, ECB chief economist Philip Lane said on Saturday.
A sustained period of low activity reduces labour productivity, weakens corporate balance sheets and saps confidence, leading to a potential downward spiral, Lane said in a speech to the Spring workshop of The European House – Ambrosetti.
“There is a clear risk of self-fulfilling adverse dynamics taking hold, through which uncertain economic prospects induce households, firms and governments to hold back on expenditure plans, leading to a decline in overall demand that validates the loss in confidence about the future,” he said.
Hoping to prop up the economy until it is ready to reopen, the ECB has pushed borrowing costs to record lows through copious asset purchases and loans to banks at rates as low as minus 1%.
Important Data: UK Nationwide HPI (MoM) today at 2:00 previously which was 0.7%. EURO ZONE Business Climate (Mar) today at 5:00 previously which was
-0.14. French 12-Month BTF Auction today at 10:00 previously which was
-0.625%. JAPAN Retail Sales (YoY) (Feb) today at 19:50 this time estimated -2.8%, previously which was -2.4%. Jobs/applications ratio (Feb) today at 19:30 this time estimated 1.10, previously which was 1.10.
TECHNICAL SUMMARY