Daily Technical Analysis by Capital Street FX

Daily Report As on 19 February 2021

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Asian stocks pulled back from all-time peaks on Friday. The Shanghai composite is up 0.30% at 3,686.31. Overall, the Singapore MSCI down 0.86% at 330.05. Over in Hong Kong, the Hang Seng Index down 0.03% to 30,431. In Japan, the Nikkei 225 down 0.89% at 29,960, while the Topix index is down 0.93% at 1926.0. South Korea’s Kospi up 0.57% to 3104.49. Australia S&P/ASX 200 down 1.34% at 6793.8.
European equities Thursday closing. The DAX futures contract in Germany traded 0.16% down at 13886.93, CAC 40 futures down 0.65% at 5728.3 and the UK 100 futures contract in the U.K. down 1.40% at 6,617.2.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.38% down at 31493.3 the S&P 500 down 0.44% to 3914.0 and the Nasdaq 100 down 0.16% at 13622.2, NYSE closes at 15290.63 down 0.73%.
In the Forex market, GBPUSD up 0.03% at 1.39743. The USDJPY down 0.12% at 105.54. The USDCHF up 0.04% at 0.89611. EURUSD up 0.06% at 1.20966, EUR/GBP up 0.09% at 0.86561. The USD/CNY down 0.17% at 6.4679, at the time of writing.
In the commodity market U.S Gold futures down 0.05% at $1,774.10. Elsewhere, Silver futures down 0.41% to $26.891 per ounce, Platinum down 0.80% at $1262.85 per ounce, and Palladium down 0.04% to $2,355.0.
Crude Oil down on Friday; Brent crude oil down 0.38% to $63.35 barrel while U.S. West Texas Intermediate (CLc1) is down 0.29% at $58.46.
In the Cryptocurrency Markets, BTCUSD at 51657.94 up 0.15%, Ethereum at 1915.84 down 1.20%, Litecoin at 226.98 up 0.08%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Kellogg Co up 2.585% at $59.53, KRAFT HEINZ Co. up 5.24% at $38.96, WALMART Inc down 6.481% to $137.66, APACHE Corp. down 5.672% to $17.63, MICRON TECHNOLOGY down 2.888% to $88.535, MODERNA Inc. down 4.068% at $169.57.
Economic news:
US: The United States will keep tariffs imposed on Chinese goods by the former Trump administration in place for now, but will evaluate how to proceed after a thorough review, Treasury Secretary Janet Yellen told CNBC on Thursday.
“For the moment, we have kept the tariffs in place that were put in by the Trump administration … and we’ll evaluate going forward what we think is appropriate,” Yellen told the cable news network, adding that Washington expected Beijing to adhere to its commitments on trade.
Asked if tariffs worked, Yellen hesitated, then said, “We’ll look at that.”
The White House last month said it would review all national security measures put in place by former President Donald Trump, including an interim trade deal with Beijing.
The deal eased tensions between the world’s two largest economies after a damaging trade war that U.S. experts estimate led to a peak loss of 245,000 U.S. jobs, but most of the tariffs remain in place on both sides.
Eurozone: The British state must take a bigger role in supporting businesses and the public, just as it did in the aftermath of World War Two, Labour Party leader Keir Starmer said on Thursday.
Starmer, who took over as leader of the main opposition party to Prime Minister Boris Johnson’s Conservatives in 2020, set out his alternative vision for the country’s post-Brexit and post-COVID future.
“I believe there’s a mood in the air which we don’t detect often in Britain. It was there in 1945 after the sacrifice of war, and it’s there again now,” he said. “It’s the determination that our collective sacrifice must lead to a better future.”
He proposed the creation of a “recovery bond” to allow the public to put their household savings into directly funding projects via the state-run National Infrastructure Bank.
Important Data: UK Retail Sales (MoM) (Jan) today at 2:0 this time estimated -2.5%, previously which was 0.3%. German Manufacturing PMI (Feb) today at 3:30 this time estimated 56.5, previously which was 57.1. UK Manufacturing PMI today at 4:30 previously which was 54.1. Core Retail Sales (MoM) (Dec) today at 8:30 this time estimated -2.0%, previously which was 2.1%.

TECHNICAL SUMMARY

Daily Report As of 23 February 2021

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U.S. Futures pointed to another negative day for stock markets on Tuesday as a sell-off continues worldwide.
The S&P 500 futures fell over 14 points or 0.54% to 2,593.75 as of 6:50 AM ET (11:50 GMT) while Dow futures decreased 225 points or 0.94% to 23,713.0. Meanwhile, tech heavy Nasdaq 100 futures was down over 39 points or 0.61% to 6,390.0.
The Dow lost over a 1,000 points at the close on Monday, as inflation concerns pushed stocks down. The negative movements started on Friday after a report showed that U.S. wages increased at its fastest pace in eight and a half year.
Asian shares reversed their earlier gains on Wednesday as investors dumped U.S. stock futures for safer harbors, a sign market participants remain jittery after this week’s global markets rout.
While most analysts believed this week’s distressed selling looks to have run its course for the moment, allowing volatility to abate a little, the prospect of monetary tightening across the globe remains a challenge for the long term.
Japan’s Nikkei eased, but was still up 0.2 percent. Chinese blue chips and South Korea’s KOSPI index dropped more than 2 percent. Hong Kong’s Hang Seng dropped 1.09Australia’s S&P/ASX 200 gained 0.75 percent.
Gold was off a touch at $1,3332.70 an ounce gained 0.24 percent on Wednesday. Silver earned 0.45% to $16.665 an ounce. Copper price was slipped by 0.19% to $3.183 a pound. U.S. cotton is 0.54% higher at $76.60 while sugar lost 0.65% to $13.82.
Oil prices rose on Wednesday, lifted by a report that U.S. crude inventories fell last week, although analysts warned that soaring U.S. output and a seasonal demand drop could soon weigh on crude.
Brent crude futures were at $67.44 per barrel at 0751 GMT, up 58 cents, or 0.9 percent, from the previous close. U.S. West Texas Intermediate (WTI) crude futures were at $63.88 a barrel. That was up 49 cents, or 0.8 percent, from their last settlement.
Bitcoin is trading at 7727.1, 24.85% higher on the Bitfinex exchange, from its previous close.
Ethereum was last trading at $781.18, up 31.36% on the Bitfinex exchange on Wednesday. Ripple’s XRP token was 29.78% higher on the Poloniex exchange, for the day. Litecoin was trading at $145.76, up by 36.81%.
Technicals

Daily Report As of 24 February 2021

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Asia Pacific stocks were down Wednesday morning, even as Treasury yields steadied and the U.S. Federal Reserve pledged continued support for the U.S. economic recovery from COVID-19. The Shanghai composite is down 2.79% at 3,533.93. Overall, the Singapore MSCI up 1.07% at 334.40. Over in Hong Kong, the Hang Seng Index down 2.78% to 29,731. In Japan, the Nikkei 225 down 1.56% at 29,700, while the Topix index is down 1.73% at 1903.5. South Korea’s Kospi down 2.32% to 2997.38. Australia S&P/ASX 200 down 0.90% at 6777.8.
European equities Tuesday closing. The DAX futures contract in Germany traded 0.61% down at 13864.81, CAC 40 futures up 0.22% at 5779.8 and the UK 100 futures contract in the U.K. up 0.21% at 6,625.9.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.05% up at 31537.4 the S&P 500 up 0.13% to 3881.4 and the Nasdaq 100 down 0.22% at 13194.7, NYSE closes at 15359.13 up 0.12%.
In the Forex market, GBPUSD up 0.32% at 1.41575. The USDJPY up 0.26% at 105.51. The USDCHF up 0.25% at 0.90718. EURUSD down 0.03% at 1.21455, EUR/GBP down 0.32% at 0.85788. The USD/CNY down 0.04% at 6.4615, at the time of writing.
In the commodity market U.S Gold futures up 0.05% at $1,806.28. Elsewhere, Silver futures down 0.3% to $27.531 per ounce, Platinum down 0.27% at $1234.00 per ounce, and Palladium up 0.40% to $2,360.00.
Crude Oil down on Wednesday; Brent crude oil down 0.08% to $65.00 barrel while U.S. West Texas Intermediate (CLc1) is down 0.02% at $58.57.
In the Cryptocurrency Markets, BTCUSD at 49714.32 up 1.70%, Ethereum at 1618.31 up 2.55%, Litecoin at 179.22 up 0.97%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
NETFLIX Inc. up 2.317% at $546.15, FACEBOOK up 2.122% at $265.85, FINSERV Inc. up 1.976% to $115.5, WORKDAY Inc. down 2.503% to $290.25, MODERNA Inc. down 5.773% to $150.17, TESLA Inc. down 2.192% at $698.84.
Economic news:
US: The U.S. House of Representatives will vote on Friday on legislation to provide $1.9 trillion in new coronavirus relief, Representative Steny Hoyer, the chamber’s No. 2 Democrat, said.
“The American people strongly support this bill, and we are moving swiftly to see it enacted into law,” Hoyer said on Twitter on Tuesday.
The House Budget Committee approved the measure on Monday. Passing more relief to ease the economic effects of the pandemic is a top priority of Democratic President Joe Biden.
Although polls show Americans want more economic support, Democrats – who narrowly control Congress – and Republicans differ sharply over how best to provide it. The U.S. coronavirus death toll this week surpassed the grim benchmark of 500,000 victims. Millions more have been left jobless by the pandemic.
Eurozone: Britain has agreed to the European Union’s request to delay ratification of their post-Brexit trade agreement until April 30, cabinet office minister Michael Gove said on Tuesday.
Earlier this month, the EU asked Britain if it could take extra time to ratify the agreement by extending until April 30 provisional application of the deal to ensure it was in all 24 of the bloc’s languages for parliamentary scrutiny.
In a letter to Maros Sefcovic, vice president of the European Commission, Gove wrote: “I can confirm that the United Kingdom is content to agree that the date on which provisional application shall cease to apply … should be extended to 30 April 2021.”
Important Data: German GDP (QoQ) (Q4) today at 2:00 this time estimated 0.1%, previously which was 8.5%. US New Home Sales (Jan) today at 10:00 this time estimated 855K, previously which was 842K. US Crude Oil Inventories today at 10:30 this time estimated -5.19M, previously which was -7.258M. AUSTRALIA Private New Capital Expenditure (QoQ) (Q4) today at 19:00 this time estimated 0.4%, previously which was -3.0%.

TECHNICAL SUMMARY

Daily Report As of 25 February 2021

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Asian stocks perked up on Thursday after U.S. Federal Reserve Chair Jerome Powell reaffirmed interest rates would stay low. The Shanghai composite is up 0.91% at 3,597.20. Overall, the Singapore MSCI up 1.57% at 340.50. Over in Hong Kong, the Hang Seng Index up 1.50% to 30,145. In Japan, the Nikkei 225 up 1.75% at 30,160, while the Topix index is up 1.37% at 1928.0. South Korea’s Kospi up 2.26% to 3062.59. Australia S&P/ASX 200 up 0.95% at 6842.2.
European equities Wednesday closing. The DAX futures contract in Germany traded 0.80 up at 13976.00, CAC 40 futures up 0.31% at 5798.0 and the UK 100 futures contract in the U.K. up 0.50% at 6,659.0.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.35% up at 31961.9 the S&P 500 up 1.14% to 3925.4 and the Nasdaq 100 up 0.06% at 13323.0, NYSE closes at 15539.41 up 1.17%.
In the Forex market, GBPUSD up 0.01% at 1.41398. The USDJPY up 0.16% at 106.01. The USDCHF up 0.01% at 0.9066. EURUSD up 0.03% at 1.21649, EUR/GBP up 0.03% at 0.86028. The USD/CNY down 0.01% at 6.4548, at the time of writing.
In the commodity market U.S Gold futures down 0.44% at $1,796.70. Elsewhere, Silver futures down 0.27% to $27.987per ounce, Platinum down 0.57% at $1259.81 per ounce, and Palladium down 0.10% to $2,437.00.
Crude Oil mix on Thursday; Brent crude oil down 0.06% to $67.20 barrel while U.S. West Texas Intermediate (CLc1) is up 0.26% at $58.72.
In the Cryptocurrency Markets, BTCUSD at 50184.00 up 0.86%, Ethereum at 1598.16 down 1.68%, Litecoin at 180.28 down 0.91%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
BOEING Co. up 8.118% at $229.34, EBAY Inc. down 3.243% at $59.38, INTEL Corp. up 3.387% to $63.19, MICRON Tech. up 4.862% to $92.52, BAIDU Inc. down 9.619% to $167.53, TESLA Inc. up 6.179% at $742.02.
Economic news:
US: President Joe Biden said on Wednesday he would seek funding for legislation to supercharge chip manufacturing in the United States as a shortfall of semiconductors has forced U.S. automakers and other manufacturers to cut production.
Biden also signed an executive order on Wednesday aimed at addressing the global semiconductor chip shortage that has alarmed the White House and members of Congress, administration officials said.
The scarcity, exacerbated by the pandemic, was also the subject of a discussion between Biden and a bipartisan group of U.S. lawmakers at the White House on Wednesday.
Eurozone: British finance minister Rishi Sunak should follow the lead of the United States by announcing a 100-billion-pound stimulus push in next week’s budget to fuel an economic recovery from the COVID-19 pandemic, a think tank said on Thursday.
Sunak, who is due to announce a new budget plan on March 3, has already racked up more than 280 billion pounds ($395 billion) in coronavirus spending and tax cuts, pushing Britain’s borrowing to its highest since World War Two.
The Resolution Foundation said Sunak should extend emergency support for businesses and workers and announce a new round of stimulus measures to alleviate unemployment, boost green investment and help retailers.
Important Data: US Core Durable Goods Orders (MoM) (Jan) today at 8:30 this time estimated 0.7%, previously which was 1.1%. US GDP (QoQ) (Q4) today at 8:30 this time estimated 4.2%, previously which was 4%. US Initial Jobless Claims today at 8:30 this time estimated 838K, previously which was 861K. AUSTRALIA Trade Balance (YoY) (Jan) today at 16:45 previously which was 2940M.

TECHNICAL SUMMARY

TECHNICAL ANALYSIS REPORT – 01 MARCH 2021
Asian shares rallied on Monday as some semblance of calm returned to bond markets after last week’s wild ride. The Shanghai Composite is up 0.90% at 3,539.46. Overall, the Singapore MSCI up 0.86% at 341.55. Over in Hong Kong, the Hang Seng Index down 0.86% to 29,209. In Japan, the Nikkei 225 1.26% at 29,620, while the Topix index is up 1.23% at 1899.0. South Korea’s Kospi down 2.80% to 3012.95. Australia S&P/ASX 200 up 1.74% at 6789.6.
European equities Friday closing. The DAX futures contract in Germany traded 0.67% down at 13786.29, CAC 40 futures down 1.39% at 5703.2 and the UK 100 futures contract in the U.K. up 0.68% at 6,538.6.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.5% down at 30932.4 the S&P 500 down 0.48% to 3811.2 and the Nasdaq 100 up 1.24% at 13070.7, NYSE closes at 15010.46 down 1.29%.
In the Forex market, GBPUSD up 0.42% at 1.39831. The USDJPY up 0.03% at 106.544. The USDCHF down 0.01% at 0.9084. EURUSD up 0.12% at 1.20848, EUR/GBP down 0.17% at 0.87414. The USD/CNY down 0.17% at 6.4617, at the time of writing.
In the commodity market U.S Gold futures up 1.10% at $1,751.59. Elsewhere, Silver futures up 0.93% to $26.893 per ounce, Platinum up 2.48% at $1217.99 per ounce, and Palladium up 1.16% to $2,345.50.
Crude Oil mix on Monday; Brent crude oil up 1.55% to $65.40 barrel while U.S. West Texas Intermediate (CLc1) is down 3.20% at $62.40.
In the Cryptocurrency Markets, BTCUSD at 46199.34 up 2.12%, Ethereum at 1432.57 up 0.82%, Litecoin at 165.04 up 0.10%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
ETSY Inc. up 11.484% at $220.61, CARNIVAL Corp. up 5.026% at $26.75, MICRON Tech. up 3.87% to $91.53, DISCOVERY Inc. up 3.472% to $45.00, AUTODESK Inc. down 2.827% to $276.00, KRAFT HEINZ Co. down 2.388% at $36.38.
Economic news:
US: The overnight U.S. repurchase agreement (repo) rate and the secured overnight financing rate (SOFR) recovered from roughly nine-month lows on Friday, but should remain under pressure this year as the market digests excess cash in the system.
In the repo market, Wall Street’s financial institutions borrow from money market funds and other investors and pledge their Treasuries and other securities they own as collateral.
The overnight repo rate rose to 0% on Friday after going negative at -0.05 the previous session, the lowest level since late April last year. SOFR, on the other hand, which also measures the cost of borrowing cash overnight using Treasury securities as collateral, also rose to 0.03%, from 0.01% on Thursday, matching the low hit in May 2020.
SOFR has replaced the London interbank offered rate (LIBOR) as an interest rate benchmark for banks.
Eurozone: British finance minister Rishi Sunak said on Sunday he would not rush to fix the public finances as he readied a budget plan which will pile more borrowing on top of almost 300 billion pounds ($418 billion) of COVID-19 spending and tax cuts.
Sunak, who is due to deliver his budget to parliament on Wednesday, promised to help the UK economy through a gradual lifting of lockdown measures that will last at least until late June. But he also said he would “level with people” about how Britain’s 2.1 trillion-pound debt pile would carry on growing without action.
“This is not something that’s going to happen overnight. Given the scale of the shock we’ve experienced, the scale of the damage, this is going to take time to fix,” Sunak told Sky News on Sunday.
Important Data: German Manufacturing PMI (Feb) today at 3:55 this time estimated 60.6, previously which was 57.1. US ISM Manufacturing PMI (Feb) today at 10:00 this time estimated 58.8, previously which was 58.7. JAPAN Capital Spending (YoY) (Q4) today at 18:50 previously which was -10.6%. US Manufacturing PMI (Feb) today at 9:45 previously which was 58.5.

TECHNICAL SUMMARY

TECHNICAL ANALYSIS REPORT – 02 MARCH 2021
Asia Pacific stocks were mostly down Tuesday morning. The Shanghai composite is down 1.56% at 3,496.23. Overall, the Singapore MSCI down 0.18% at 341.05. Over in Hong Kong, the Hang Seng Index down 1.36% to 28,849. In Japan, the Nikkei 225 down 0.57% at 29,410, while the Topix index is down 0.24% at 1894.5. South Korea’s Kospi up 1.14% to 3047.39. Australia S&P/ASX 200 down 0.40% at 6762.3.
European equities Monday closing. The DAX futures contract in Germany traded 1.64% up at 14012.82, CAC 40 futures up 1.57% at 5792.8 and the UK 100 futures contract in the U.K. up 1.62% at 6,588.5.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.95% up at 31535.5 the S&P 500 up 2.38% to 3901.8 and the Nasdaq 100 down 0.37% at 13268.2, NYSE closes at 15327.77 up 2.11%.
In the Forex market, GBPUSD down 0.24% at 1.38920. The USDJPY up 0.07% at 106.832. The USDCHF up 0.10% at 0.91583. EURUSD down 0.20% at 1.20248, EUR/GBP up 0.06% at 0.86564. The USD/CNY up 0.11% at 6.4722, at the time of writing.
In the commodity market U.S Gold futures down 0.36% at $1,717.85. Elsewhere, Silver futures down 1.47% to $26.159 per ounce, Platinum down 0.59% at $1176.45 per ounce, and Palladium down 0.30% to $2,353.50.
Crude Oil down on Tuesday; Brent crude oil down 0.33% to $63.00 barrel while U.S. West Texas Intermediate (CLc1) is down 1.39% at $61.53.
In the Cryptocurrency Markets, BTCUSD at 48374.13 down 2.53%, Ethereum at 1539.42 down 2.06%, Litecoin at 171.54 down 2.75%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
ETSY Inc. up 11.037% at $244.58, INVESCO Ltd. up 10.348% at $24.74, TESLA Inc. up 6.355% to $718.43, DISCOVERY Inc. up 9.712% to $58.18, CARNIVAL Corp. down 1.645% to $26.31, APACHE Corp. down 1.064% at $19.52.
Economic news:
US: The U.S. Senate will begin debating President Joe Biden’s $1.9 trillion coronavirus relief bill this week, Senate Majority Leader Chuck Schumer said on Monday.
In remarks on the Senate floor, Schumer, a Democrat, did not say when the chamber might vote on the bill.
Eurozone: Banks in the European Union would have to publish a ground breaking “green asset ratio” (GAR) as a core measure of their climate-friendly business activities from next year, the EU’s banking watchdog proposed on Monday.
As the trend in sustainable investing gathers pace, regulators want investors to get more reliable information on a bank’s exposures to climate change as storms and other weather events affect the value of their assets and liabilities.
The European Banking Authority (EBA) said the ratio, put out to formal public consultation on Monday, will measure the amount of climate-friendly loans, advances and debt securities compared to total assets on a lender’s balance sheet to reach a percent figure.
“I believe it’s the first-time regulators are asking for a green asset ratio,” said Piers Haben, EBA’s director of banking, markets, innovation and consumers.
Important Data: UK Nationwide HPI (YoY) (Feb) today at 2:00 this time estimated -0.3%, previously which was -0.3%. German Unemployment Change (Feb) today at 3:55 this time estimated -13K, previously which was -41K. CANADA GDP (MoM) (Dec) today at 8:30 this time estimated 0.3%, previously which was 0.7%. AUSTRALIA GDP (QoQ) (Q4) today at 19:30 this time estimated 2.5%, previously which was 3.3%.

TECHNICAL SUMMARY

TECHNICAL ANALYSIS REPORT–04 MARCH 2021
Asia Pacific stocks were down Thursday morning. The Shanghai composite is down 1.66% at 3,517.96. Overall, the Singapore MSCI up 0.30% at 345.40. Over in Hong Kong, the Hang Seng Index down 2.45% to 28,963. In Japan, the Nikkei 225 down 2.22% at 29,940, while the Topix index is down 1.00% at 1884.0. South Korea’s Kospi down 1.15% to 3047.57. Australia S&P/ASX 200 up 0.84% at 6760.7.
European equities Wednesday closing. The DAX futures contract in Germany traded 0.29% up at 14080.03, CAC 40 futures up 0.35% at 5830.1 and the UK 100 futures contract in the U.K. up 0.93% at 6,675.5.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.39% down at 31270.1 the S&P 500 down 1.31% to 3819.7 and the Nasdaq 100 down 2.88% at 12683.3, NYSE closes at 15199.19 down 0.51%.
In the Forex market, GBPUSD up 0.04% at 1.39550. The USDJPY up 0.08% at 107.097. The USDCHF down 0.05% at 0.91936. EURUSD down 0.04% at 1.20574, EUR/GBP up 0.03% at 0.864. The USD/CNY down 0.01% at 6.4670, at the time of writing.
In the commodity market U.S Gold futures up 0.36% at $1,717.09. Elsewhere, Silver futures up 0.30% to $26.134 per ounce, Platinum up 0.419% at $1168.48 per ounce, and Palladium up 0.30% to $2,361.00.
Crude Oil up on Thursday; Brent crude oil up 1.02% to $64.53 barrel while U.S. West Texas Intermediate (CLc1) is up 2.12% at $62.01.
In the Cryptocurrency Markets, BTCUSD at 49329.23 down 2.07%, Ethereum at 1552.34 down 1.00%, Litecoin at 186.87 down 0.44%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
CARNIVAL Corp. up 3.915% at $28.67, ETSY Inc. down 12.507% at $208.61, DEXCOM Inc. down 5.922% to $368.7, FINSERV Inc. up 0.104% to $115.8, MODERNA Inc. down 10.619% to $131.22, KARFT HEINZ Co. up 1.769% at $37.98.
Economic news:
US: Racial and gender disparities lead to trillions of dollars in lost economic activity and a full recovery from the crisis caused by the pandemic will require structural changes that make it easier for women and minorities to find better paying jobs,
Philadelphia Federal Reserve Bank President Patrick Harker.
Black and Hispanic workers are experiencing unemployment rates that are sometimes twice as high as that of white workers, and women are leaving the workforce at higher rates than men, Harker said in remarks prepared for a virtual event organized by the Philadelphia Fed.
“Even with some hopeful signs as virus cases fall and the economy continues to reopen, I’m concerned that, as the broader economy climbs upward, far too many workers are being left behind,” he said.
Harker cited research from the San Francisco Fed estimating that gender and racial disparities in the labour market amount to about $2.6 trillion in economic losses. He said some workers will need help finding jobs, nodding to a tool recently launched by the Philadelphia Fed that helps workers identify similar, but better paying jobs that typically do not require a college degree.
Eurozone: The European Union promised legal action on Wednesday after the British government unilaterally extended a grace period for checks on food imports to Northern Ireland, a move Brussels said violated terms of Britain’s divorce deal.
Since it left the EU last year, Britain’s relations with the bloc have soured, with both sides accusing the other of acting in bad faith in relation to part of their trade agreement that covers goods movements to Northern Ireland.
The British government extended a grace period for some checks on agricultural and food products imported by retailers to Northern Ireland until Oct. 1 in a move it said was necessary to ensure the free flow of goods to the British region.
In a statement, the European Union expressed “strong concerns” at a move it said amounted to a violation of the substantive provisions of the Northern Ireland Protocol, the most contentious part of Britain’s divorce deal with the EU.
Important Data: UK Construction PMI (Feb) today at 4:30 this time estimated 51.0, previously which was 49.2. US Initial Jobless Claims today at 8:30 this time estimated 750K, previously which was 730K. US Nonfarm Productivity (QoQ) (Q4) today at 8:30 this time estimated -4.7%, previously which was -4.8%. CANADA Labour Productivity (QoQ) (Q4) today at 8:30 previously which was -10.3%. US Fed Chair Powell Speaks today at 12:05.

TECHNICAL SUMMARY

TECHNICAL ANALYSIS REPORT – 05 MARCH 2021
Asian stocks skidded to one-month lows on Friday. The Shanghai composite is up 0.03% at 3,504.12. Overall, the Singapore MSCI up 0.78% at 347.25. Over in Hong Kong, the Hang Seng Index down 0.21% to 29,012. In Japan, the Nikkei 225 down 1.17% at 28,640, while the Topix index is down 0.53% at 1881.0. South Korea’s Kospi down 0.28% to 3035.73. Australia S&P/ASX 200 down 0.74% at 6710.8.
European equities Thursday closing. The DAX futures contract in Germany traded 0.17% down at 14056.34, CAC 40 futures up 0.01% at 5830.7 and the UK 100 futures contract in the U.K. down 0.07% at 6,598.8.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.11% down at 30924.1 the S&P 500 down 1.34% to 3768.5 and the Nasdaq 100 down 0.22% at 12462.1, NYSE closes at 14959.41 down 1.58%.
In the Forex market, GBPUSD down 0.05% at 1.38859. The USDJPY up 0.10% at 108.075. The USDCHF up 0.03% at 0.92887. EURUSD down 0.04% at 1.19584, EUR/GBP up 0.07% at 0.86119. The USD/CNY up 0.06% at 6.4730, at the time of writing.
In the commodity market U.S Gold futures down 0.08% at $1,696.00. Elsewhere, Silver futures down 0.45% to $25.219 per ounce, Platinum down 0.10% at $1126.81 per ounce, and Palladium up 0.28% to $2,346.50.
Crude Oil up on Friday; Brent crude oil up 0.63% to $67.40 barrel while U.S. West Texas Intermediate (CLc1) is up 3.34% at $64.08.
In the Cryptocurrency Markets, BTCUSD at 47144.58 down 2.51%, Ethereum at 1470.21 down 4.42%, Litecoin at 171.78 down 4.98%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
EXXON MOBIL Corp. up 3.875% at $58.71, WESTERN DIGITAL down 8.87% at $63.49, HP Inc. down 5.869% to $28.07, TWITTER Inc. down 5.8% to $66.75, FACEBOOK up 0.873% to $257.64, MODERNA Inc. up 0.823% at $132.3.
Economic news:
US: U.S. job growth likely accelerated in February as more services businesses reopened amid falling new COVID-19 cases, quickening vaccination rates and additional pandemic relief money from the government, putting the labor market recovery back on firmer footing and on course for further gains in the months ahead.
The Labour Department’s closely watched employment report on Friday will, however, also offer a reminder that as the United States enters the second year of the coronavirus pandemic the recovery remains excruciatingly slow, with millions of Americans experiencing long spells of joblessness and permanent unemployment.
Federal Reserve Chair Jerome Powell on Thursday offered an optimistic view of the labour market, but cautioned a return to full employment this year was “highly unlikely.”
“We will probably see more people having gone back on payrolls,” said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles. “Many will be related to service jobs, but that will not mean a rapid increase in jobs. It’s a slow progress toward eventual full recovery.”
Eurozone: The United States agreed a four-month suspension of retaliatory tariffs imposed on British goods such as Scotch whisky over a long-running aircraft subsidy row, with both sides pledging to use the time to resolve the dispute.
The U.S. administration under former president Donald Trump had imposed tariffs on an array of European Union food, wine and spirits, including on Scotch whisky, which the industry says had put its future at risk. Britain is party to the dispute as a former member of the EU.
“The United Kingdom and the United States are undertaking a four-month tariff suspension to ease the burden on industry and take a bold, joint step towards resolving the longest running disputes at the World Trade Organization,” a joint statement said.
“This will allow time to focus on negotiating a balanced settlement to the disputes, and begin seriously addressing the challenges posed by new entrants to the civil aviation market from non-market economies, such as China.”
Important Data: US Nonfarm Payrolls (Feb) today at 8:30 this time estimated 182K, previously which was 49K. US Unemployment Rate (Feb) today at 8:30 this time estimated 6.3%, previously which was 6.3%. CANADA Trade Balance (Jan) today at 8:30 this time estimated -1.40B, previously which was -1.67B. US Federal Budget today at 14:00 previously which was -430B.

TECHNICAL SUMMARY

What has changed for the Market while you were sleeping?

Market Report as on 8th March 2021

Checkout our Daily market Report to keep yourself a step ahead of the market so that you can cash to potential Market moves.

Asia Pacific stocks were mostly down Monday morning, even as optimism over the U.S.’ $1.9 trillion stimulus package and hopes for a global economic recovery from COVID-19 grew. The Shanghai Composite is down 1.32% at 3,455.54. Overall, the Singapore MSCI up 0.88% at 348.75. Over in Hong Kong, the Hang Seng Index down 0.84% to 28,648. In Japan, the Nikkei 225 down 0.17% at 28,700, while the Topix index is down 0.08% at 1889.5. South Korea’s Kospi down 0.98% to 2996.91. Australia S&P/ASX 200 up 0.43% at 6739.6.

European equities Friday closing. The DAX futures contract in Germany traded 0.97% down at 13920.69, CAC 40 futures down 0.82% at 5782.7 and the UK 100 futures contract in the U.K. down 0.31% at 6,630.5.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed 1.85% up at 31496.3 the S&P 500 up 1.95% to 3841.9 and the Nasdaq 100 down 0.79% at 12555.3, NYSE closes at 15251.83 up 1.95%.

In the Forex market, GBPUSD up 0.01% at 1.38321. The USDJPY up 0.03% at 108.394. The USDCHF up 0.18% at 0.93172. EURUSD up 0.03% at 1.19113, EUR/GBP up 0.07% at 0.86111. The USD/CNY up 0.17% at 6.5054, at the time of writing.

In the commodity market U.S. Gold futures up 0.50% at $1,706.92. Elsewhere, Silver futures up 1.43% to $25.596 per ounce, Platinum up 0.66% at $1137.89 per ounce, and Palladium up 0.64% to $2,356.50.

Crude Oil up on Monday; Brent Crude Oil up 1.94% to $70.90 barrel while U.S. West Texas Intermediate (CLc1) is up 2.67% at $65.79.

In the Cryptocurrency Markets, BTCUSD at 50613.71 down 0.69%, Ethereum at 1740.30 up 0.75%, Litecoin at 190.12 down 0.26%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:
GAP Inc. up 7.604% at $27.31, ORACLE Corp. up 6.645% at $69.97, CARNIVAL Corp. down 4.781% to $26.09, TESLA Inc. down 3.78% to $597.95, MICRON Tech. Up 5.455% to $88.93, MODERNA Inc. down 0.083% at $132.19.

Economic news:
US: President Joe Biden said on Saturday that Senate passage of his $1.9 trillion coronavirus aid bill means that $1,400 payments to most Americans will start to go out this month and the bill’s provisions will speed up manufacturing and distribution of vaccines.

Biden, speaking at the White House after the American Rescue Plan bill passed the Senate on a party-line 50-49 vote, said that over 85% of American households will receive payments, with a couple with two children making $100,000 annually receiving about $5,600.

Eurozone: Italian Prime Minister Mario Draghi’s government is facing criticism for hiring consulting giant McKinsey to help it rewrite plans for spending the European Union funds aimed at rebuilding the economy.

The government said on Saturday it had signed a 25,000-euro ($30,000) contract with McKinsey to look at the issue. It did not give details of how much work the firm would do, but the sum is very small by the standards of consulting firm costs.

An Italian official told Reuters that McKinsey was willing to work pro bono, but the government insisted that they have at least expenses paid.
A representative for McKinsey had no comments.

Draghi, a former president of the European Central Bank with no political affiliation, took office last month after the collapse of the previous coalition. A first priority is to redraft Italy’s Recovery Plan, which must be handed to the European Commission by April to tap more than 200 billion euros of EU funds and revive the pandemic-hit economy.

Important Data: German Industrial Production (MoM) (Jan) today at 2:30 this time estimated 0.2%, previously which was 0.0%. JAPAN Household Spending (YoY) today at 18:30 previously which was -0.6%. JAPAN GDP (QoQ) (Q4) today at 18:50 this time estimated 3.0%, previously which was 3%. UK BRC Retail Sales Monitor (YoY) (Feb) today at 19:30 previously which was 7.1%.

TECHNICAL SUMMARY

GBPJPY

TRADE SUGGESTION- BUY AT 149.837, TAKE PROFIT AT 150.068 AND STOP LOSS AT 149.655

EURUSD

TRADE SUGGESTION- SELL AT 1.19001, TAKE PROFIT AT 1.18622 AND STOP LOSS AT 1.19469

CHFJPY

TRADE SUGGESTION- SELL AT 116.265, TAKE PROFIT AT 116.107 AND STOP LOSS AT 116.534

NZDUSD

TRADE SUGGESTION- SELL AT 0.71563, TAKE PROFIT AT 0.71342 AND STOP LOSS AT 0.71772

NASDAQ 100


TRADE SUGGESTION- SELL AT 12525 TAKE PROFIT AT 12440.11 AND STOP LOSS AT 12649.56

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 67.28 TAKE PROFIT AT 68.60 AND STOP LOSS AT 65.58

GOLD

TRADE SUGGESTION- SELL AT 1701.37, TAKE PROFIT AT 1695.97 AND STOP AT 1715.76

ETHEREUM

TRADE SUGGESTION- BUY AT 1712.30 TAKE PROFIT AT 1749.17 AND STOP AT 1684.50

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What has changed for the Market while you were sleeping?

Market Report as of 9th March 2021

Checkout our Daily market Report to keep yourself a step ahead of the market so that you can cash to potential Market moves.

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

GBPUSD
https://lh4.googleusercontent.com/2G...QiIovA--jp0ByA
https://www.capitalstreetfx.com/en/w...3/image-48.png

TRADE SUGGESTION- SELL AT 1.3837, TAKE PROFIT AT 1.38017 AND STOP LOSS AT 1.38615

EURUSD
https://lh3.googleusercontent.com/f1...JANwXeEDOsjxQ0
https://www.capitalstreetfx.com/en/w...3/image-49.png

TRADE SUGGESTION- SELL AT 1.18540, TAKE PROFIT AT 1.18083 AND STOP LOSS AT 1.18891

USDJPY
https://lh6.googleusercontent.com/1I...tRLtNn0ceOcJiw
https://www.capitalstreetfx.com/en/w...3/image-50.png

TRADE SUGGESTION- BUY AT 109.135, TAKE PROFIT AT 109.366 AND STOP LOSS AT 108.768

USDCHF
https://lh6.googleusercontent.com/Kj...DWaNcZG2ccRzyE
https://www.capitalstreetfx.com/en/w...3/image-51.png

TRADE SUGGESTION- BUY AT 0.93587, TAKE PROFIT AT 0.93809 AND STOP LOSS AT 0.93222

FTSE 100
https://lh5.googleusercontent.com/j1...-rUkuPuShIS30c
https://www.capitalstreetfx.com/en/w...3/image-52.png

TRADE SUGGESTION- BUY AT 6697.8 TAKE PROFIT AT 6752.2 AND STOP LOSS AT 6661.8

WTI CRUDE OIL
https://lh4.googleusercontent.com/D7...9DpuB77epAHL9o
https://www.capitalstreetfx.com/en/w...3/image-53.png

TRADE SUGGESTION- BUY AT 64.68 TAKE PROFIT AT 65.09 AND STOP LOSS AT 64.40

GOLD
https://lh4.googleusercontent.com/Eq...Q6NIVwv642rLqQ
https://www.capitalstreetfx.com/en/w...3/image-54.png

TRADE SUGGESTION- SELL AT 1692.61, TAKE PROFIT AT 1678.72 AND STOP AT 1702.65

BTCUSD
https://lh3.googleusercontent.com/v0...ep5Rmgb5e54PWs
https://www.capitalstreetfx.com/en/w...3/image-55.png

TRADE SUGGESTION- BUY AT 53764.00 TAKE PROFIT AT 55039.96 AND STOP AT 53562.44

What has changed for the Market while you were sleeping?

Market Report as of 10th March 2021

Checkout our Daily market Report to keep yourself a step ahead of the market so that you can cash to potential Market moves.

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

GBPUSD
https://lh4.googleusercontent.com/r3..._Pc41bqg4uQ_7s
https://www.capitalstreetfx.com/en/w...3/image-60.png

TRADE SUGGESTION- SELL AT 1.3848, TAKE PROFIT AT 1.38229 AND STOP LOSS AT 1.38803

EURUSD
https://lh4.googleusercontent.com/-Z...ESq0XFtlftovjY
https://www.capitalstreetfx.com/en/w...3/image-61.png

TRADE SUGGESTION- SELL AT 1.18663, TAKE PROFIT AT 1.18460 AND STOP LOSS AT 1.18894

EURGBP
https://lh6.googleusercontent.com/p5...TqskYsi8GX1oY4
https://www.capitalstreetfx.com/en/w...3/image-62.png

TRADE SUGGESTION- SELL AT 0.85678, TAKE PROFIT AT 0.85546 AND STOP LOSS AT 0.85772

EURJPY
https://lh6.googleusercontent.com/RO...xvrWWkmybvzASU
https://www.capitalstreetfx.com/en/w...3/image-63.png

TRADE SUGGESTION- BUY AT 129.227, TAKE PROFIT AT 129.355 AND STOP LOSS AT 129.180

DJ EURO STOXX 50
https://lh3.googleusercontent.com/oY...VYq5fCflmr8-yA
https://www.capitalstreetfx.com/en/w...3/image-64.png

TRADE SUGGESTION- BUY AT 3784 TAKE PROFIT AT 3854 AND STOP LOSS AT 3733

WTI CRUDE OIL
https://lh3.googleusercontent.com/cq...oa-3DF75a1_kLU
https://www.capitalstreetfx.com/en/w...3/image-65.png

TRADE SUGGESTION- BUY AT 63.36 TAKE PROFIT AT 63.76 AND STOP LOSS AT 63.11

GOLD
https://lh5.googleusercontent.com/TL...zthuMksNhhHLJk
https://www.capitalstreetfx.com/en/w...3/image-66.png

TRADE SUGGESTION- SELL AT 1714.20, TAKE PROFIT AT 1701.23 AND STOP AT 1732.50

ETHEREUM
https://lh6.googleusercontent.com/4x...GZAHESXsrDYpt8
https://www.capitalstreetfx.com/en/w...3/image-67.png

TRADE SUGGESTION- BUY AT 1806.40 TAKE PROFIT AT 1838.23 AND STOP AT 1786.14

What has changed for the Market while you were sleeping?

Market Report as of 12th March 2021

Check out our Daily market Report to keep yourself a step ahead of the market so that you can cash to potential Market moves.

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

What has changed for the Market while you were sleeping?

Market Report as of 16th March 2021

Check out our Daily market Report to keep yourself a step ahead of the market so that you can cash to potential Market moves.

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

What has changed for the Market while you were sleeping?

Market Report as of 16th March 2021

Check out our Daily market Report to keep yourself a step ahead of the market so that you can cash to potential Market moves.

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

What has changed for the Market while you were sleeping?

Market Report as of 18th March 2021

Check out our Daily market Report to keep yourself a step ahead of the market so that you can cash to potential Market moves.

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

What has changed for the Market while you were sleeping?

Market Report as of 24th March 2021

Check out our Daily market Report to keep yourself a step ahead of the market so that you can cash to potential Market moves.

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

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

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

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

TECHNICAL ANALYSIS REPORT – 30 MARCH 2021
Asian shares were mixed early Tuesday. The Shanghai composite is up 0.61% at 3,456.60. Overall, the Singapore MSCI up 0.82% at 362.85. Over in Hong Kong, the Hang Seng Index up 0.93% to 28,650. In Japan, the Nikkei 225 up 1.13% at 29,410, while the Topix index is up 0.74% at 1976.5. South Korea’s Kospi up 1.07% to 3068.45. Australia S&P/ASX 200 down 1.33% at 6730.1.
European equities Monday closing. The DAX futures contract in Germany traded 0.47% up at 14817.72, CAC 40 futures up 0.45% at 6015.5 and the UK 100 futures contract in the U.K. down 0.15% at 6,761.1.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.30% at 33171.4, the S&P 500 down 0.09% to 3971.1 and the Nasdaq 100 down 0.30% at 12941.7, NYSE closes at 15611.88 down 0.45%.
In the Forex market, GBPUSD up 0.14% at 1.37769. The USDJPY up 0.16% at 109.957. The USDCHF up 0.06% at 0.93952. EURUSD down 0.01% at 1.17628, EUR/GBP down 0.09% at 0.85382. The USD/CNY up 0.02% at 6.5709, at the time of writing.
In the commodity market U.S Gold futures down 0.29% at $1,707.04. Elsewhere, Silver futures down 0.19% to $24.585 per ounce, Platinum down 0.06% at $1172.85 per ounce, and Palladium up 0.12% to $2,539.00.
Crude Oil mix on Tuesday; Brent crude oil down 0.29% to $64.97 barrel while U.S. West Texas Intermediate (CLc1) is up 0.99% at $62.13.
In the Cryptocurrency Markets, BTCUSD at 57407.61 down 0.33%, Ethereum at 1798.35 down 1.04%, Litecoin at 190.54 down 1.63%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
FACEBOOK Inc. up 2.756% at $290.82, TWITTER Inc. up 2.742% at $62.94, KRAFT HEINZ Co. up 1.874% at $40.78, PEPSI Co Inc. up 1.479% at $144.81, OKTA Inc. up 1.586% at $215.82, MODERNA Inc. down 7.398% at $123.42, WORKDAY Inc. down 2.62% at $243.12, DOCUSIGN Inc. down 2.258% at $197.4.
Economic news:
US: The U.S. Customs has found forced labour practices in Top Glove Corp Bhd’s production of disposable gloves and directed its ports to seize goods from the manufacturer, it said on Monday.
In a statement overnight, U.S. Customs and Border Protection (CBP) said it has sufficient information to determine labour abuses at the world’s largest medical glove maker.
CBP issued an order in July last year that barred imports from two of Top Glove’s subsidiaries on suspicion of labour abuses.
The ban now extends “to all disposable gloves originating in Top Glove factories in Malaysia,” it told Reuters.
Top Glove shares fell nearly 5% in early morning trade.
Top Glove told Reuters its U.S. counsels are liaising with representatives from the CBP to obtain more clarity and information on the matter.
Eurozone: The European Central Bank must be cautious when it shifts away from its emergency stimulus even if the economy rebounds from the pandemic as predicted, according to outgoing policy maker Vitas Vasiliauskas.
The Governing Council member and head of Lithuania’s central bank, who steps down from those roles next month, said in an interview that the ECB should draw on its earlier experiences of tightening too soon. That means switching back to more-standard monetary tools only gradually.
Even after inflation is back to its pre-pandemic trajectory, policy makers will need to keep quantitative easing in place for “quite a while,” he predicted.
“I don’t think we can allow ourselves to make very sharp changes to our monetary policy, especially having in mind our historic experience,” Vasiliauskas said on Monday. “It would be better to live a little bit longer in the transitional situation.”
ECB officials have been forced to backtrack in the past decade after capping or withdrawing monetary support too soon. They halted bond purchases at the end of 2018 — only to restart buying within a year as the economy deteriorated — and were forced to reverse two interest-rate increases in 2011.
Important Data: US API Weekly Crude Oil Stock today at 16:30 previously which was 2.927M. US S&P/CS HPI Composite – 20 n.s.a. (YoY) (Jan) today at 9:00 this time estimated 11.0%, previously which was 10.1%. US CB Consumer Confidence (Mar) today at 10:00 this time estimated 96.9, previously which was 91.3. JAPAN Industrial Production (MoM) (Feb) today at 19:50 this time estimated -1.2%, previously which was 4.3%.

TECHNICAL SUMMARY