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TECHNICAL ANALYSIS OF THE FINANCIAL MARKETS – 17 MARCH 2021

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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

GBPUSD

GBPUSD Technical Analysis
GBPUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.3854, TAKE PROFIT AT 1.3824 AND STOP LOSS AT 1.3898

EURUSD

EURUSD Technical Analysis
EURUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.19266, TAKE PROFIT AT 1.19054 AND STOP LOSS AT 1.19636

EURGBP

EURGBP Technical Analysis
EURGBP Technical Analysis

TRADE SUGGESTION- SELL AT 0.86080, TAKE PROFIT AT 0.85946 AND STOP LOSS AT 0.86203

EURJPY

EURJPY Technical Analysis
EURJPY Technical Analysis

TRADE SUGGESTION- BUY AT 130.145, TAKE PROFIT AT 130.440 AND STOP LOSS AT 129.966

S&P 500

S&P 500 Technical Analysis
S&P 500 Technical Analysis

TRADE SUGGESTION- BUY AT 3969.66 TAKE PROFIT AT 4000 AND STOP LOSS AT 3932.35

WTI CRUDE OIL

WTI CRUDE OIL Technical Analysis
WTI CRUDE OIL Technical Analysis

TRADE SUGGESTION- BUY AT 64.61 TAKE PROFIT AT 65.30 AND STOP LOSS AT 64.31

GOLD

GOLD Technical Analysis
GOLD Technical Analysis

TRADE SUGGESTION- SELL AT 1727.55, TAKE PROFIT AT 1715.82 AND STOP AT 1739.42

BTC USD

BTC USD Technical Analysis
BTC USD Technical Analysis

TRADE SUGGESTION- BUY AT 55090.00 TAKE PROFIT AT 55993.00 AND STOP AT 54466.53

 

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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

GBPUSD

GBPUSD Technical Analysis
GBPUSD Technical Analysis

TRADE SUGGESTION- BUY AT 1.39845, TAKE PROFIT AT 1.40 AND STOP LOSS AT 1.39438

EURUSD

EURUSD Technical Analysis
EURUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.19748, TAKE PROFIT AT 1.19491 AND STOP LOSS AT 1.19979

USDJPY

USDJPY Technical Analysis
USDJPY Technical Analysis

TRADE SUGGESTION- BUY AT 108.822, TAKE PROFIT AT 109.006 AND STOP LOSS AT 108.614

USDCHF

USDCHF Technical Analysis
USDCHF Technical Analysis

TRADE SUGGESTION- SELL AT 0.92214, TAKE PROFIT AT 0.91984 AND STOP LOSS AT 0.92407

NIKKEI 225

NIKKEI 225 Technical Analysis
NIKKEI 225 Technical Analysis

TRADE SUGGESTION- BUY AT 30074.00 TAKE PROFIT AT 30266 AND STOP LOSS AT  29912

WTI CRUDE OIL

WTI CRUDE OIL Technical Analysis
WTI CRUDE OIL Technical Analysis

TRADE SUGGESTION- BUY AT 64.30 TAKE PROFIT AT 64.93 AND STOP LOSS AT 63.74

GOLD

GOLD Technical Analysis
GOLD Technical Analysis

TRADE SUGGESTION- BUY AT 1750.12, TAKE PROFIT AT 1764.34 AND STOP AT 1723.69

BTC USD

BTC USD Technical Analysis
BTC USD Technical Analysis

TRADE SUGGESTION- BUY AT 58768 TAKE PROFIT AT 60437 AND STOP AT 57455.13

 

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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

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37065, TAKE PROFIT AT 1.36733 AND STOP LOSS AT 1.37510

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.18390, TAKE PROFIT AT 1.18059 AND STOP LOSS AT 1.18689

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.86324, TAKE PROFIT AT 0.86653 AND STOP LOSS AT 0.86013

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 128.516, TAKE PROFIT AT 128.232 AND STOP LOSS AT 128.747

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 6666.6 TAKE PROFIT AT 6628.8 AND STOP LOSS AT 6698.1

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 58.33 TAKE PROFIT AT 57.22 AND STOP LOSS AT 59.11

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1729.74, TAKE PROFIT AT 1723.24 AND STOP AT 1739.21

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 55424 TAKE PROFIT AT 53707 AND STOP AT 56590

 

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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

GBPUSD

GBPUSD Technical Analysis
GBPUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.36856, TAKE PROFIT AT 1.36500 AND STOP LOSS AT 1.37510

EURUSD

EURUSD Technical Analysis
EURUSD  Technical Analysis

TRADE SUGGESTION- SELL AT 1.18119, TAKE PROFIT AT 1.17682 AND STOP LOSS AT 1.18670

GBPJPY

GBPJPY Technical Analysis
GBPJPY Technical Analysis

TRADE SUGGESTION- SELL AT 149.0, TAKE PROFIT AT 148.098 AND STOP LOSS AT 149.616

CHFJPY

CHFJPY Technical Analysis
CHFJPY Technical Analysis

TRADE SUGGESTION- SELL AT 116.337, TAKE PROFIT AT 116.050 AND STOP LOSS AT 116.543

NASDAQ 100

NASDAQ 100 Technical Analysis
NASDAQ 100 Technical Analysis

TRADE SUGGESTION- SELL AT 12807.24 TAKE PROFIT AT 12718.19 AND STOP LOSS AT 12922.10

WTI CRUDE OIL

WTI CRUDE OIL Technical Analysis
WTI CRUDE OIL Technical Analysis

TRADE SUGGESTION- SELL AT 60.26 TAKE PROFIT AT 59.30 AND STOP LOSS AT 61.24

GOLD

GOLD Technical Analysis
GOLD Technical Analysis

TRADE SUGGESTION- SELL AT 1733.21, TAKE PROFIT AT 1716.98 AND STOP AT 1745.15

LITECOIN USD

LITECOIN USD Technical Analysis
LITECOIN USD Technical Analysis

TRADE SUGGESTION- SELL AT 174.15 TAKE PROFIT AT 164.62 AND STOP AT 180.30

 

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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

 

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37572, TAKE PROFIT AT 1.37278 AND STOP LOSS AT 1.37733

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.17750, TAKE PROFIT AT 1.17496 AND STOP LOSS AT 1.17953

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 109.229, TAKE PROFIT AT 109.648 AND STOP LOSS AT 108.908

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.93968, TAKE PROFIT AT 0.94267 AND STOP LOSS AT 0.93164

DJ EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3796 TAKE PROFIT AT 3813 AND STOP LOSS AT 3778

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 59.24 TAKE PROFIT AT 58.51 AND STOP LOSS AT 60.27

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1733.21, TAKE PROFIT AT 1716.98 AND STOP AT 1745.15

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 52792 TAKE PROFIT AT 51785.94 AND STOP AT 53707.74

 

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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

GBPUSD

BUFonN9B2rruKoTSPw1pOvaP2vZeZxnrHkHbGCvx
a1.png

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

EURUSD

d2ODw7smQurXjWMkX1CyXl4zcGSx-HOJqy2g-HQI
b1.png

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

GBPJPY

PTDhoUGKmbnuc-8U-xkhHON2RarzsxzueYj_60nd
c1.png

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

CHFJPY

MvAVhxqy_H06aCBCsdhF5d5xUEhIwxnLUgisDCwD
d1.png

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

DOW JONES 

zbd8p3vAD37s_Rn9M0Zr46azqNZk8nZLBdtavRuy
e1.png

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

WTI CRUDE OIL

yP_6Hs2zdhQH2UpBWTuofqVAzPXMreBeyc3lZgkx
f1.png

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

GOLD

SjmMP3qinYDN-T8YZRS4eHqLTjQzRzE7_XHOM5GQ
g1.png

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

LITECOIN USD

7m_uhTJEkAF6_WS44MHal4SC6Wz6zxRycBgF6RTZ
h1.png

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

 

 

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TECHNICAL ANALYSIS REPORT – 02 APRIL 2021

Asian markets were set to open higher on Friday in a holiday-lightened trading session. The Shanghai composite is up 1.54% at 3,471.02. Overall, the Singapore MSCI up 1.97% at 364.40. Over in Hong Kong, the Hang Seng Index up 0.40% to 28,931. In Japan, the Nikkei 225 up 2.54% at 29,840, while the Topix index is down 0.15% at 1970.0. South Korea’s Kospi up 2.32% to 3111.61. Australia S&P/ASX 200 up 0.07% at 6828.7.

European equities Thursday closing. The DAX futures contract in Germany traded up 2.43% at 15107.17, CAC 40 futures up 1.91% at 6103.0 and the UK 100 futures contract in the U.K. down 0.05% at 6,737.3.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.24% up at 33153.2, the S&P 500 up 1.14% to 4019.9 and the Nasdaq 100 up 3.01% at 13365.0, NYSE closes at 15752.24 up 0.44%.

In the Forex market, GBPUSD up 0.43% at 1.38403. The USDJPY up 0.77% at 110.516. The USDCHF up 0.29% at 0.94162. EURUSD down 0.14% at 1.17762, EUR/GBP down 0.48% at 0.85077. The USD/CNY up 0.30% at 6.5608, at the time of writing.

In the commodity market U.S Gold futures up 0.24% at $1,734.97. Elsewhere, Silver futures down 0.40% to $24.946 per ounce, Platinum up 2.32% at $1211.98 per ounce, and Palladium down 0.30% to $2,667.00.

Crude Oil up on Friday; Brent crude oil up 0.42% to $64.64 barrel while U.S. West Texas Intermediate (CLc1) is up 0.47% at $61.81.

In the Cryptocurrency Markets, BTCUSD at 59485.35 up 6.62%, Ethereum at 1991.66 up 18.09%, Litecoin at 204.27 up 10.81%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

HESS Corp. up 5.257% at $74.48, TERADYNE Inc. up 5.86% at $128.81, MICRON TECH. up 4.761% at $92.41, TESLA Inc. down 0.925% at $661.75, MICROSOFT Corp. up 2.791% at $242.35, VISA Inc. up 2.423% at $216.86, APPLE Inc. down 0.696% at $123.00, BOEING Inc. down 0.696% at $252.96.

Economic news:

US: U.S. employers likely stepped up hiring in March amid increased vaccinations and more pandemic relief money from the government, which would cement expectations for a boom that could push this year’s economic growth to the strongest since 1984.

The Labour Department’s closely watched employment report on Friday is also expected to show people, mostly women, wading back into the labour market, drawn by those brightening economic prospects. But the labour market is hardly out of the woods yet, with the job’s deficit still huge and long-term unemployment becoming entrenched.

“The economy is on fire, fuelled by vaccines and government stimulus,” said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles. “All the stars are lined up to surprise us on the upside.”

Nonfarm payrolls likely surged by 647,000 jobs last month after increasing by 379,000 in February, according to a Reuters survey of economists. That would be the biggest gain since October. Estimates ranged from as low as 115,000 to as high as 1.1 million jobs.

Friday’s report marks a painful anniversary for the labour market. The March 2020 employment report was the first to reflect the mandatory closures of non-essential businesses such as restaurants, bars and gyms to slow the onset of the just-emerging COVID-19 pandemic. Nearly 1.7 million jobs were lost that month, and another 20.7 million would vanish the next.

Eurozone: Europe should match the ambition shown by the United States with its huge new economic stimulus, French Finance Minister Bruno Le Maire said on Thursday.

The new administration of U.S. President Joe Biden is already making payments to households under a new $1.9 trillion COVID-19 relief package and plans to plough $2.3 trillion into infrastructure investments to fire up the world’s biggest economy.

“Whatever we may think about it, the American stimulus plan shows ambition, and the return of U.S. ambition is a good thing,” Le Maire said in a speech at the Geneva Graduate Institute.

“The best response to U.S. ambition isn’t to fight it. It is to match it. Europe needs to challenge itself like America does,” he added.

While European countries’ support for their economies last year was on par with that seen in the United States, the new U.S. stimulus dwarves the European Union’s 750 billion euro ($881 billion) economic recovery plan.

Though the 27-nation bloc agreed the landmark stimulus fund last summer, EU governments are still submitting detailed plans on how they aim to spend money from the fund, which many still need to ratify.

Important Data: US Nonfarm Payrolls (Mar) today at 8:30 this time estimated 647K, previously which was 379K. US Unemployment Rate (Mar) today at 8:30 this time estimated 6.0%, previously which was 6.2%. US Government Payrolls (Mar) today at 8:30 previously which was -86K. US Average Hourly Earnings (YoY) (YoY) (Mar) today at 8:30 this time estimated 4.5%, previously which was 5.3%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.38305, TAKE PROFIT AT 1.38076 AND STOP LOSS AT 1.38732

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.17712, TAKE PROFIT AT 1.17484 AND STOP LOSS AT 1.17918

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 152.893, TAKE PROFIT AT 152.997 AND STOP LOSS AT 152.203

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 117.338, TAKE PROFIT AT 117.560 AND STOP LOSS AT 117.177

NASDAQ 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 13365.24 TAKE PROFIT AT 13390.13 AND STOP LOSS AT 13339.83

CADCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.74958 TAKE PROFIT AT 0.75229 AND STOP LOSS AT 0.74829

GBPCAD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.73801, TAKE PROFIT AT 1.74087 AND STOP AT 1.73532

ETHEREUM 

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1995.50 TAKE PROFIT AT 2032.34 AND STOP AT 1979.93

 

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TECHNICAL ANALYSIS REPORT – 05 APRIL 2021

Asian markets partially closed today. The Shanghai composite is up 1.93% at 3,484.39. Overall, the Singapore MSCI down 0.77% at 361.50. Over in Hong Kong, the Hang Seng Index up 0.40% to 28,931. In Japan, the Nikkei 225 up 0.53% at 30,090, while the Topix index is up 0.23% at 1981.5. South Korea’s Kospi up 0.26% to 3120.74. Australia S&P/ASX 200 up 0.07% at 6828.7.

European equities Thursday closing, Friday market was closed. The DAX futures contract in Germany traded up 2.43% at 15107.17, CAC 40 futures up 1.91% at 6103.0 and the UK 100 futures contract in the U.K. down 0.05% at 6,737.3.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.24% up at 33153.2, the S&P 500 up 1.14% to 4019.9 and the Nasdaq 100 up 2.70% at 13329.5, NYSE closes at 15752.24 up 0.44%.

In the Forex market, GBPUSD up 0.10% at 1.38311. The USDJPY flat at 110.642. The USDCHF up 0.22% at 0.94326. EURUSD down 0.06% at 1.17530, EUR/GBP down 0.01% at 0.84975. The USD/CNY up 0.36% at 6.5646, at the time of writing.

In the commodity market U.S Gold futures down 0.52% at $1,725.90. Elsewhere, Silver futures down 0.80% to $24.738 per ounce, Platinum down 0.27% at $1206.43 per ounce, and Palladium down 1.05% to $2,639.00.

Crude Oil mix on Monday; Brent crude oil down 0.91% to $64.06 barrel while U.S. West Texas Intermediate (CLc1) is up 0.47% at $61.81.

In the Cryptocurrency Markets, BTCUSD at 57240.98 down 1.67%, Ethereum at 2022.27 down 2.58%, Litecoin at 200.85 down 0.80%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

HESS Corp. up 5.257% at $74.48, TERADYNE Inc. up 5.86% at $128.81, MICRON TECH. up 4.761% at $92.41, TESLA Inc. down 0.925% at $661.75, MICROSOFT Corp. up 2.791% at $242.35, VISA Inc. up 2.423% at $216.86, APPLE Inc. down 0.696% at $123.00, BOEING Inc. down 0.696% at $252.96.

Economic news:

US: U.S. President Joe Biden would be willing to push through his $2 trillion infrastructure plan without the support of Republican lawmakers if he cannot reach a bipartisan deal, Energy Secretary Jennifer Granholm said on Sunday.

Granholm said Biden would prefer that his plan have Republican backing but, if that does not work, he would likely support using a procedural strategy called reconciliation to allow Democrats to pass it in the Senate.

“As he has said, he was sent to the presidency to do a job for America. And if the vast majority of Americans, Democrats and Republicans, across the country support spending on our country and not allowing us to lose the race globally, then he’s going to do that,” Granholm said on CNN’s “State of the Union.”

Most Americans currently support the Democratic president’s plan, said Granholm, one of several senior Biden administration officials who promoted the proposal on television news shows on Sunday.

Since taking office in January, the Democratic president has repeatedly said he wants to work with Republicans.

Eurozone: Britain’s organised crime agency is reviewing a report by a group of London-based lawyers which accuses Lebanon’s central bank governor Riad Salameh and associates of money laundering and corrupt practices, four sources familiar with the matter said.

The 76-page report, seen by Reuters, outlines what it says are assets, companies and investment vehicles in Britain worth hundreds of millions of pounds which it alleges Salameh, members of his family and his associates used over years to divert funds out of Lebanon.

Salameh, who has led Lebanon’s central bank since 1993, told Reuters he had read a copy of the report and described it as part of a smear campaign. “They are false allegations,” he said.

London-based legal practice Guernica37 submitted the report to British police late last year, two of the sources said. They said it was then referred to Britain’s National Crime Agency (NCA). The report was prepared on behalf a group from Lebanese civil society in the diaspora.

“We can confirm we have received that report, but we are not in a position to comment further,” a spokesman for the NCA said, declining to say whether an investigation had been launched. Two of the sources said NCA’s financial investigation unit was carrying out a scoping exercise, a form of preliminary investigation, to determine whether there were sufficient grounds to start a formal investigation.

Important Data: US Services PMI (Mar) today at 9:45 this time estimated 60.0, previously which was 59.80. US Markit Composite PMI (Mar) today at 9:45 previously which was 59.10. US ISM Non-Manufacturing PMI (Mar) today at 10:00 this time estimated 58.5, previously which was 55.30. JAPAN Average Hourly Earnings (YoY) (YoY) (Mar) today at 19:30 this time estimated 2.8%, previously which was -7.3%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.38246, TAKE PROFIT AT 1.38477 AND STOP LOSS AT 1.38085

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.17449, TAKE PROFIT AT 1.17385 AND STOP LOSS AT 1.17580

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 110.624, TAKE PROFIT AT 110.821 AND STOP LOSS AT 110.475

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.94307, TAKE PROFIT AT 0.94414 AND STOP LOSS AT 0.94156

DOW JONES

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 33350.00 TAKE PROFIT AT 33400.00 AND STOP LOSS AT 33265.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 60.44 TAKE PROFIT AT 59.82 AND STOP LOSS AT 61.69

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1727.64, TAKE PROFIT AT 1718.42 AND STOP AT 1745.51

BTCUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 57084 TAKE PROFIT AT 58396.09 AND STOP AT 55735.87

 

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TECHNICAL ANALYSIS REPORT – 06 APRIL 2021 Asia’s stock markets rose on Tuesday as another batch of strong U.S. economic data bolstered the global outlook. The Shanghai composite is down 0.20% at 3,477.65. Overall, the Singapore MSCI down 0.17% at 361.10. Over in Hong Kong, the Hang Seng Index flat at 28,931. In Japan, the Nikkei 225 down 1.26% at 29,690, while the Topix index is down 1.36% at 1955.0. South Korea’s Kospi up 0.16% to 3125.87. Australia S&P/ASX 200 up 0.94% at 6892.6. European equities Monday closing. The DAX futures contract in Germany traded up 0.66% at 15107.17, CAC 40 futures up 0.59% at 6103.0 and the UK 100 futures contract in the U.K. up 0.35% at 6,737.3. In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.13% up at 33527.2, the S&P 500 up 1.14% to 4077.9 and the Nasdaq 100 up 2.02% at 13598.2, NYSE closes at 15870.33 up 0.75%. In the Forex market, GBPUSD up 0.15% at 1.39153. The USDJPY flat at 110.164. The USDCHF up 0.08% at 0.93704. EURUSD up 0.04% at 1.18149, EUR/GBP down 0.02% at 0.84906. The USD/CNY down 0.23% at 6.5498, at the time of writing. In the commodity market U.S Gold futures up 0.48% at $1,736.74. Elsewhere, Silver futures up 0.88% to $25.081 per ounce, Platinum up 0.24% at $1212.51 per ounce, and Palladium down 0.45% to $2,650.50. Crude Oil mix on Tuesday; Brent crude oil up 0.90% to $62.78 barrel while U.S. West Texas Intermediate (CLc1) is down 3.51% at $59.64. In the Cryptocurrency Markets, BTCUSD at 58668.38 down 0.77%, Ethereum at 2123.50 up 0.80%, Litecoin at 221.19 down 0.19%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: CARNIVAL Corp. up 4.654% at $28.11, FORD MOTOR CO. up 4.355% at $12.70, ETSY Inc. down 5.283% at $197.20, HESS Corp. down 4.995% at $70.76, INTEL Corp. up 3.083% at $66.54, OKTA Inc. down 1.25% at $226.83, DOCUSIGN Inc. down 0.31% at $205.65, BOEING Co. up 2.53% at $259.36. Economic news: US: Top Democrats on the Senate Finance Committee on Monday proposed major shifts in former President Donald Trump’s 2017 tax reforms to eliminate what they say are incentives for companies to move operations overseas and shift profits to tax haven countries. The plan proposed by Democratic senators Ron Wyden, Sherrod Brown and Mark Warner parallels some of the corporate tax hike proposals announced last week by President Joe Biden to finance $2 trillion in U.S. infrastructure investment. The senators are targeting provisions in the landmark 2017 Tax and Jobs Act that govern how companies’ foreign income is taxed, the Global Intangible Low-Taxed Income system, the Foreign-Derived Intangible Income tax and the Base-Erosion and Anti-abuse Tax. The systems were aimed at returning companies’ deferred offshore income to the United States at lower tax rates, where those profits could be invested in American jobs. But in practice, the Democrats said, they created new incentives for companies to invest more overseas to take advantage of new exemptions. Eurozone: British Prime Minister Boris Johnson said on Monday a planned reopening of the economy would take place next week, with the opening of all shops, gyms, hairdressers and outdoor hospitality areas in England. With the vaccine programme rolling out rapidly across the UK and infection numbers falling, Johnson said England would proceed to Stage 2 of his roadmap out of lockdown from April 12. Johnson said he would go to the pub himself for a pint. People should continue to work from home when they could and minimise domestic travel, the government said. It also confirmed that the government was looking at a COVID-status certification system, or vaccine passport, to help reopen larger events. Important Data: RUSSIA CPI (MoM) (Mar) today at 12:00 this time estimated 0.6%, previously which was 0.8%. US JOLTs Job Openings (Feb) today at 10:00 this time estimated 6.995M, previously which was 6.917M. EURO Unemployment Rate (Feb) today at 5:00 this time estimated 8.1%, previously which was 8.1%. US API Weekly Crude Oil Stock today at 16:30 previously which was 3.910M. TECHNICAL SUMMARY GBPUSD Technical Analysis Technical Analysis TRADE SUGGESTION- BUY AT 1.38815, TAKE PROFIT AT 1.39391 AND STOP LOSS AT 1.38566 EURUSD Technical Analysis Technical Analysis TRADE SUGGESTION- SELL AT 1.18002, TAKE PROFIT AT 1.17587 AND STOP LOSS AT 1.18329 EURGBP Technical Analysis Technical Analysis TRADE SUGGESTION- SELL AT 0.85037, TAKE PROFIT AT 0.84970 AND STOP LOSS AT 0.85177 EURJPY Technical Analysis Technical Analysis TRADE SUGGESTION- BUY AT 130.218, TAKE PROFIT AT 130.467 AND STOP LOSS AT 130.054 FTSE 100 Technical Analysis Technical Analysis TRADE SUGGESTION- BUY AT 6774.10 TAKE PROFIT AT 6803.2 AND STOP LOSS AT 6740.60 WTI CRUDE OIL Technical Analysis Technical Analysis TRADE SUGGESTION- SELL AT 59.25 TAKE PROFIT AT 58.68 AND STOP LOSS AT 59.91 GOLD Technical Analysis Technical Analysis TRADE SUGGESTION- SELL AT 1728.94, TAKE PROFIT AT 1721.07 AND STOP AT 1738.77 ETHEREUM Technical Analysis Technical Analysis TRADE SUGGESTION- BUY AT 2113.10 TAKE PROFIT AT 2134.68 AND STOP AT 2104.63

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TECHNICAL ANALYSIS REPORT – 07 APRIL 2021

A gauge of Asian shares climbed to three-week highs on Wednesday. The Shanghai composite is down 0.35% at 3,470.15. Overall, the Singapore MSCI down 0.08% at 361.60. Over in Hong Kong, the Hang Seng Index down 0.83% at 28,689. In Japan, the Nikkei 225 up 0.17% at 29,750, while the Topix index is up 0.59% at 1966.5. South Korea’s Kospi up 0.30% to 3136.50. Australia S&P/ASX 200 up 0.55% at 6923.9.

European equities Tuesday closing. The DAX futures contract in Germany traded up 0.70% at 15212.68, CAC 40 futures up 0.47% at 6131.3 and the UK 100 futures contract in the U.K. up 1.28% at 6,823.6.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.29% down at 33430.2, the S&P 500 down 0.10% to 4073.9 and the Nasdaq 100 down 0.06% at 13590.6, NYSE closes at 15877.95 up 0.05%.

In the Forex market, GBPUSD down 0.26% at 1.37860. The USDJPY up 0.08% at 109.578. The USDCHF down 0.07% at 0.93011. EURUSD down 0.03% at 1.18699, EUR/GBP up 0.22% at 0.86077. The USD/CNY up 0.02% at 6.5403, at the time of writing.

In the commodity market U.S Gold futures down 0.40% at $1,737.41. Elsewhere, Silver futures down 0.55% to $25.017 per ounce, Platinum up 0.13% at $1239.65 per ounce, and Palladium down 0.34% to $2,675.50.

Crude Oil up on Wednesday; Brent crude oil up 0.10% to $62.74 barrel while U.S. West Texas Intermediate (CLc1) is up 0.79% at $60.11.

In the Cryptocurrency Markets, BTCUSD at 58276.58 up 0.45%, Ethereum at 2097.50 down 0.74%, Litecoin at 236.54 down 0.24%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 4.468% at $206.01, TWITTER Inc. up 4.296% at $67.0, DISCOVERY Inc. up 4.179% at $43.38, KLA Corp. down 2.388% at $346.60, BIOGEN Inc. down 2.202% at $271.76, BAIDU Inc. up 1.916% at $226.44, NETEASE Inc. up 1.639% at $107.27, CSX Corp. down 1.481% at $97.11.

Economic news:

US: Top White House economist Cecilia Rouse on Tuesday defended President Joe Biden’s plan to spend $400 billion on the “care economy” as a legitimate infrastructure investment and key part of his drive to address persistent economic inequities.

Republicans have blasted Biden’s $2.3 trillion infrastructure package as riddled with liberal spending priorities, and want to strip out funding for home- and community-based jobs taking care of kids and seniors.

Rouse told an online event that was faulty thinking.

“So many people said, ‘Oh, the $400 billion that are being proposed for the home care workers or the home care sector, that’s not really infrastructure,'” she said. “Well I beg to differ. I can’t go to work, if I don’t have someone who’s taking care of my parents or my children.”

Biden’s infrastructure plan, his second major legislative initiative, appears unlikely to draw more bipartisan support than his first, a $1.9 trillion COVID-19 relief package that passed with only Democratic support last month.

The infrastructure package includes $25 billion to upgrade child-care facilities and increase the number of sites in areas with few child-care options, and the Biden administration is working on another package with more funding to be unveiled in coming weeks.

Eurozone: Top economic policymakers from the Group of Seven (G7) industrialised countries talked on Tuesday about how they will reform their economies to achieve their net zero emissions targets, this year’s chair, Britain, said.

“Finance ministers and central bank governors discussed the key roles of their ministries and central banks in the transition to net zero, and how climate policies complement and amplify the role of the private sector in financing climate action,” Britain’s finance ministry said in a statement.

British finance minister Rishi Sunak told attendees they needed to step up their plans to achieve the G7’s goal of creating $100 billion of climate finance, the finance ministry said.

Sunak will on Wednesday call on the Group of Twenty major economies to focus their efforts to tackle climate change and help the International Monetary Fund (IMF) to make climate change key to its activities, the finance ministry said.

On Thursday he will discuss more support for vulnerable countries and a new allocation of the IMF’s financial reserves, an internal currency known as special drawing rights (SDRs).

Important Data: UK Composite PMI (Mar) today at 4:30 this time estimated 56.6, previously which was 56.6. US Crude Oil Inventories today at 10:30 this time estimated -1.436M, previously which was -0.876M. US Imports today at 5:00 previously which was 260.20B. Italian Services PMI (Mar) today at 3:45 this time estimated 49.0, previously which was 48.8.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37821, TAKE PROFIT AT 1.37484 AND STOP LOSS AT 1.38080

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18703, TAKE PROFIT AT 1.18859 AND STOP LOSS AT 1.18448

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 151.390, TAKE PROFIT AT 151.012 AND STOP LOSS AT 151.778

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 118.1, TAKE PROFIT AT 118.231 AND STOP LOSS AT 117.973

DAX 30

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 15208 TAKE PROFIT AT 15240.8 AND STOP LOSS AT 15175.10

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 59.61 TAKE PROFIT AT 58.73 AND STOP LOSS AT 60.27

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1740.96, TAKE PROFIT AT 1751.01 AND STOP AT 1723.03

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 224.57 TAKE PROFIT AT 240.72 AND STOP AT 230.75

 

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Asia Pacific stocks were mixed Thursday morning. The Shanghai composite is up 0.43% at 3,494.08. Overall, the Singapore MSCI down 0.14% at 360.50. Over in Hong Kong, the Hang Seng Index up 1.48% at 28,963. In Japan, the Nikkei 225 flat at 29,710, while the Topix index is down 0.71% at 1952.0. South Korea’s Kospi up 0.17% to 3142.68. Australia S&P/ASX 200 up 0.91% at 6990.7.

European equities Wednesday closing. The DAX futures contract in Germany traded down 0.24% at 15176.36, CAC 40 futures down 0.01% at 6130.7 and the UK 100 futures contract in the U.K. up 0.91% at 6,885.3.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.05% up at 33446.3, the S&P 500 up 0.15% to 4080.0 and the Nasdaq 100 up 0.28% at 13616.7, NYSE closes at 15838.84 down 0.25%.

In the Forex market, GBPUSD up 0.22% at 1.37660. The USDJPY down 0.17% at 109.643. The USDCHF down 0.09% at 0.92868. EURUSD up 0.10% at 1.18738, EUR/GBP down 0.16% at 0.86250. The USD/CNY up 0.07% at 6.5468, at the time of writing.

In the commodity market U.S Gold futures up 0.42% at $1,744.10. Elsewhere, Silver futures up 0.78% to $25.324 per ounce, Platinum up 0.58% at $1233.62 per ounce, and Palladium down 0.04% to $2,622.00.

Crude Oil mix on Thursday; Brent crude oil down 0.38% to $62.66 barrel while U.S. West Texas Intermediate (CLc1) is up 0.43% at $60.37.

In the Cryptocurrency Markets, BTCUSD at 57176.81 up 2.18%, Ethereum at 2017.87 up 2.79%, Litecoin at 223.70 up 2.12%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TWITTER Inc. up 2.97% at $68.99, FACEBOOK up 2.23% at $313.09, NVIDIA Corp. up 2.034% at $565.74, TESLA Inc. down 2.986% at $670.97, APPLE Inc. up 1.339% at $127.9, INTEC Corp. up 1.053% at $66.25, VISA Inc. up 0.284% at $219.27, NIKE Inc. down 0.452% at $136.54.

Economic news:

US: Federal Reserve officials remain wary about the ongoing risks of the coronavirus pandemic and are committed to bolstering the economy until its recovery is more secure, minutes of the U.S. central bank’s latest policy meeting showed on Wednesday.

With their own forecasts projecting the strongest run of U.S. economic growth in nearly 40 years, “participants agreed that the economy remained far from the (Fed’s) longer-run goals and that the path ahead remained highly uncertain,” the minutes from the March 16-17 meeting said.

“Participants noted that it would likely be some time,” before conditions improved enough for the central bank to consider reducing its current level of support.

Though several policymakers at the meeting indicated they thought interest rates might need to increase sooner than anticipated by the bulk of their colleagues, and perhaps as soon as next year, there was little sense of urgency around that issue in the minutes.

Eurozone: The European Central Bank sped up the pace of its emergency bond-buying programme by 22.7% in March despite a slowdown in the runup to Easter, with Germany the biggest beneficiary of its stimulus, data showed on Tuesday.

The ECB bought 73.5 billion euros worth of bonds under its Pandemic Emergency Purchase Programme (PEPP) last month after pledging to raise buying volumes and cap a rise in borrowing costs that threatened to derail the euro zone’s recovery from a pandemic-induced recession.

However, data for the five days to April 2 showed net PEPP purchases were nearly halved compared with the previous week, at just 10.6 billion euros – likely due to lower market activity in the runup to Easter.

German government bonds took the lion’s share of the ECB’s largesse in February and March at 44.8 billion euros, combined data for PEPP and the ECB’s regular Public Sector Purchase Programme showed.

This was more than twice the net supply of German sovereign paper over those months at 21 billion euros, according to UniCredit estimates, and helped bring the country back to its theoretical quota in the programmes.

Important Data: UK Construction PMI (Mar) today at 4:30 this time estimated 54.6, previously which was 53.3. US Initial Jobless Claims today at 8:30 this time estimated 680K, previously which was 719K. AUSTRALIA Building Approvals (MoM) today at 21:30 this time estimated 21.6%, previously which was -19.4%. US Fed Chair Powell Speaks today at 12:00.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37583, TAKE PROFIT AT 1.37194 AND STOP LOSS AT 1.37954

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18653, TAKE PROFIT AT 1.19090 AND STOP LOSS AT 1.18460

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 109.721, TAKE PROFIT AT 109.844 AND STOP LOSS AT 109.620

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.92864, TAKE PROFIT AT 0.92668 AND STOP LOSS AT 0.93109

DJ EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3916 TAKE PROFIT AT 3925 AND STOP LOSS AT 3914

WTI CRUDE OIL

jHypnpLwKW_k6nJNlXIOgH83EzVzrt_-YwAOPg4F
image-70.png

TRADE SUGGESTION- SELL AT 59.33 TAKE PROFIT AT 58.68 AND STOP LOSS AT 60.27

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1742.57, TAKE PROFIT AT 1745.28 AND STOP AT 1740.50

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 57064 TAKE PROFIT AT 58402 AND STOP AT 55480.94

 

 

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Asia Pacific stocks were mostly down Friday morning. The Shanghai composite is down 1.08% at 3,444.91. Overall, the Singapore MSCI down 0.11% at 359.40. Over in Hong Kong, the Hang Seng Index down 1.25% at 28,660. In Japan, the Nikkei 225 up 0.67% at 29,870, while the Topix index is up 0.67% at 1965.0. South Korea’s Kospi down 0.51% to 3126.35. Australia S&P/ASX 200 up 0.14% at 6988.9.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.17% at 15202.68, CAC 40 futures up 0.57% at 6165.7 and the UK 100 futures contract in the U.K. up 0.83% at 6,942.2.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.17% up at 33503.6, the S&P 500 up 0.42% to 4097.2 and the Nasdaq 100 down 0.36% at 13751.8, NYSE closes at 15886.56 up 0.30%.

In the Forex market, GBPUSD down 0.15% at 1.37121. The USDJPY up 0.12% at 109.384. The USDCHF up 0.11% at 0.92481. EURUSD down 0.14% at 1.18960, EUR/GBP up 0.05% at 0.86772. The USD/CNY up 0.05% at 6.5546, at the time of writing.

In the commodity market U.S Gold futures down 0.30% at $1,750.25. Elsewhere, Silver futures down 0.51% to $25.305 per ounce, Platinum down 1.17% at $1217.14 per ounce, and Palladium down 0.10% to $2,626.00.

Crude Oil down on Friday; Brent crude oil down 0.55% to $62.96 barrel while U.S. West Texas Intermediate (CLc1) is down 0.17% at $60.27.

In the Cryptocurrency Markets, BTCUSD at 57943.15 down 0.22%, Ethereum at 2070.53 down 0.50%, Litecoin at 223.52 down 1.22%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 5.573% at $215.39, TWITTER Inc. up 3.232% at $71.22, DISCOVERY Inc. down 3.48% at $41.88, OKTA Inc. up 7.153% at $238.48, AUTODESK Inc. up 2.555% at $293.43, BIOGEN Inc. down 0.854% at $265.73, VISA Inc. up 0.652% at $220.7, 3M Co. up 0.395% at $195.72.

Economic news:

US: The U.S. Federal Reserve plans to keep its super-easy policy in place even as data shows the economy kicking into higher gear, with policymakers predicting on Thursday that an expected increase in prices this year will fade on its own, and warning about the recent uptick in COVID-19 infections.

“Cases are moving back up here, so I would just urge that people do get vaccinated and continue socially distancing,” Fed Chair Jerome Powell, who has had his shots, said at an economic forum during virtual International Monetary Fund and World Bank meetings. “We don’t want to get another outbreak; even if it might have less economic damage and kill fewer people, it’ll slow down the recovery.”

Speaking at a separate event, St. Louis Federal Reserve Bank President James Bullard said the Fed should not even discuss changes in monetary policy until it is clear the pandemic is over, tying future Fed discussions tightly to the success of the vaccination effort.

The Fed has said it will keep buying $120 billion in bonds a month until it sees “substantial further progress” toward meeting the central bank’s employment and inflation goals.

Eurozone: European Central Bank policymakers at their meeting last month debated a smaller increase in bond purchases and agreed to front-load the buying this quarter on condition it could be cut later if conditions allow, the accounts of their meeting showed on Thursday.

Worried that rising yields would derail an eventual recovery, policymakers in March decided to “significantly” increase bond purchases and undo some of the rise in borrowing costs, which was deemed a reflection of a global repricing rather than improved economic prospects.

Monthly bond buys under the ECB’s 1.85 trillion-euro Pandemic Emergency Purchase Programme jumped by over a fifth last month, enough to stabilize nominal bond yields and push inflation-adjusted yields back to their early-year lows.

However, some policymakers argued that a smaller increase in bond purchases would better reflect a more balanced risk assessment and expectations for faster growth.

“All members joined a broad consensus around the proposal put forward by (chief economist Philip) Lane, on the understanding that the total PEPP envelope was not being called into question in the current conditions and that the pace of purchases could be reduced in the future,” the account of the March 10-11 meeting showed.

Important Data: US PPI (MoM) (Mar) today at 8:30 this time estimated 0.5%, previously which was 0.5%. CANADA Employment Change (Mar) today at 8:30 this time estimated 100K, previously which was 259.2K. CANADA Unemployment Rate (Mar) today at 8:30 this time estimated 8%, previously which was 8.2%. UK Halifax House Price Index (MoM) (Mar) today at 3:30 previously which was 0.1%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37038, TAKE PROFIT AT 1.36714 AND STOP LOSS AT 1.37392

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18859, TAKE PROFIT AT 1.19090 AND STOP LOSS AT 1.18682

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.86738, TAKE PROFIT AT 0.86952 AND STOP LOSS AT 0.86645

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 130.067, TAKE PROFIT AT 130.310 AND STOP LOSS AT 129.965

HANG SENG

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 28575 TAKE PROFIT AT 28373 AND STOP LOSS AT 28727

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 59.48 TAKE PROFIT AT 58.85 AND STOP LOSS AT 60.21

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1748.21, TAKE PROFIT AT 1758.11 AND STOP AT 1742.75

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 2074.10 TAKE PROFIT AT 2092.61 AND STOP AT 2055.34

 

 

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ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down  by 0.51% to 3,395.68. Hong Kong’s Hang Seng Index was down about 0.46% to 28,539.12.

Japan’s benchmark Nikkei average. Nikkei 225 is trading up 0.72 per cent at 29,751.06 on  Tuesday, while the broader TOPIX  100 rose  0.30 per cent to 1,266.71. South Korea’s Kospi was up by 1.07% to 3169.08.

EUROPEAN MARKET:-

The Euro Stoxx 50 climbed down by 0.43%  to 3,961. In the cash markets, the DAX futures Germany was trading 0.13%  lower at 15,215.25. CAC 40 futures in France climbed down by 0.13% to 6,161.60, while the FTSE 100 futures in the U.K. fell by 0.39% to 6,889.41, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.16% at 33,745.60 the S&P 500 was up 0.01% to 4129.86 and the Nasdaq 100 down 0.19% at 13,819.35.

FOREX MARKET:-

In the Forex market, GBPUSD  rose 0.05% at 1.3748. The USDJPY was up 0.28% at 109.69. The USDCHF was up 0.25% at 0.9248. EURUSD was down 0.18% at 1.1887, EUR/GBP was down 0.23% at 0.8645, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures fell 0.51% at $1,723.60. Elsewhere, Silver futures fell 0.10% to $24.843 per ounce, Platinum fell 0.34% at $1,170.20 per ounce, and Palladium was up 0.45% at $2,688.50.

Crude Oil was down on Tuesday; Brent crude oil up 0.77% to $63.77 barrel while U.S. West Texas Intermediate (CLc1) rose 0.77% at $60.14.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD is at $61,000 up 0.45%, Ethereum at 2,167.57 down 0.69%, Litecoin at 251.873  down 2.32%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TOP STOCKS

AstraZeneca. down 0.44% at 7,193.20, Apple Inc. down 1.32% at $131.24, Facebook down 0.29% at $312.46, TESLA Inc. up 3.69% at $701.02, MICROSOFT Corp. up 0.02% at $255.91, VISA Inc. up 0.47% at $221.47, BHP Group up 0.26% at $2,123.36.

Economic news:

USA MARKET

Economic news

The U.S. economy could see a significant rebound this year thanks to accommodative monetary and fiscal policy, but the labourmarket still has much room for improvement, Boston Federal Reserve Bank President Eric Rosengren said on Monday.

“With labour-markets lack still significant, and inflation still below the Federal Reserve’s 2 per cent target, my perspective is that the current highly accommodative stance of monetary policy is appropriate,” Rosengren said during a virtual discussion with business leaders.

Coronavirus vaccines’ ability to successfully prevent the spread of new variants of the virus would also be important, he said. “Assuming virus variants do not become especially problematic, we should see an unusually strong post-recession recovery,” he said.

Under a replacement framework adopted last year, Fed officials are going to be patient and leave rates near zero until inflation materializes – not raising rates in anticipation of upper inflation when the unemployment rate is low, Rosengren said.

Policymakers are trying to avoid the sluggish recovery that took place after the global financial crisis, and it is possible that the unemployment rate could drop to pre-pandemic levels of about 4% within the next two years, Rosengren said. Some employers will need to juice up their benefits packages or increase pay to attract new workers as business picks up, he said.

EUROZONE:

Economic news

Britain’s economy will be back to its pre-COVID-19 level around the middle of next year, according to economists in a Reuters poll who said unemployment would peak at 6.2% as 2021 draws to a close and the pandemic job support scheme ends.

The UK has suffered the highest coronavirus-related death toll in Europe. But a swift vaccine rollout and plummeting infections haveallowed the government to begin easing restrictions and on Monday non-essential retail and outside hospitality reopened.

Last year the economy shrank by the most in more than three centuries, but the April 7-12 poll of around 70 economists said it would expand 5.0% this year and 5.5% in 2022. In a March poll, those forecasts were 4.6% and 5.7%, respectively.

With much of the country’s dominant service industry closed, and citizens encouraged to stay at home, the poll suggested the economy contracted 2.3% last quarter. Now that lockdowns are being loosened, it was expected to grow 3.5% this quarter and 3.0% next.

“There are mounting signs that the effects on the economy from the third COVID-19 lockdown have started to thaw,” said Paul Dales at Capital Economics.

“We are sticking to our relatively optimistic view that the reopening of the economy and the vaccine programme will allow GDP to regain its pre-pandemic level early next year.”

But asked when the British economy would be back to its pre-pandemic size the majority of respondents to an additional question thought it would take a bit longer, with 10 expecting it to be a quarter or two later.

Finance Minister Rishi Sunak said last month he expected the economy would return to its pre-pandemic size in mid-2022. Six respondents in the poll said it would take longer and five said it would be sooner.

TECHNICAL SUMMERY

GBP/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.3750, TAKE PROFIT AT 1.3650 AND STOP LOSS AT 1.3800.

USD/CAD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.2580, TAKE PROFIT AT 1.2680 AND STOP LOSS  AT 1.2530.

USD/JPY:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 109.30 , TAKE PROFIT AT 108.30 AND STOP LOSS AT 109.80 .

CAC 40:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 6180.50, TAKE PROFIT AT 6230.50 AND STOP LOSS  AT 6165.50.

GOLD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1730.90, TAKE PROFIT AT 1760.90  AND STOP LOSS AT 1715.90 .

ETHEREUM:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 2,215, TAKE PROFIT AT 2,265 AND STOP LOSS 2,190 .

 

 

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ASIAN MARKET:-

Mainland Chinese stocks were up by the early morning. The Shanghai Composite was up by 1.26% to 3,469.68. Hong Kong’s Hang Seng Index was up about 0.48% to 29,150.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.04 per cent at 29,671.06 on  Monday, while the  Australian Index S&P / ASX 200 rose  0.14 per cent to 7,073.71. South Korea’s Kospi was up by 0.03% to 3198.08.

EUROPEAN MARKET:-

The FTSE MIB climbed up by 0.88%  to 24,744.50 In the cash markets, the DAX futures Germany was trading 1.34%  higher at 15,459.25. CAC 40 futures in France climbed up by 0.85% to 6,287.60, while the FTSE 100 futures in the U.K. rose by 0.52% to 7,019.41, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.48% at 34,200.27 the S&P 500 was up 0.36% to 4,185.86 and the Nasdaq 100 was up 0.10% at 14,052.76.

FOREX MARKET:-

In the Forex market, GBPUSD  fell 0.37% at 1.3735. The USDJPY was up 0.11% at 108.86. The USDCHF was up 0.21% at 0.9208. EURUSD was up 0.01% at 1.1968, EUR/GBP was up 0.41% at 0.8713, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures fell 0.16% at $1,777.45. Elsewhere, Silver futures fell 1.00% to $25.843 per ounce, Platinum rose 0.30% at $1,209.90 per ounce, and Palladium was up 0.08% at $2,785.50.

Brent crude oil was down 0.31% to $66.56 barrel while U.S. West Texas Intermediate (CLc1) fell  0.24% at $63.04.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD is at $56,803 up 2.06%, Ethereum at 2,240.18 up 2.74%, Litecoin at 273.442  up 5.74%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Technical Analysis

AstraZeneca down 0.27% at 7380.0, Apple Inc. down 0.25% at $134.16, Amazon up 0.60% at $ 3,399.44, TESLA Inc. up 0.13% at $739.78, Daimler up 2.62% at 77.335., Boeing down 1.17% at $248.18, Unilever down 0.04% at 4164.37.

Economic news:

USA MARKET

Technical Analysis

Fewer than 200,000 businesses in the United States may have failed during the first year of the COVID-19 pandemic, a lighter toll than initially feared and one that may have had relatively little impact on unemployment, according to Federal Reserve research.

The figure contrasts with the early forecasts that the pandemic would leave America’s “Main Street” desolate as well as with polls that continue to show large percentages of U.S. small business owners are worried about their survival.

Perhaps 600,000 businesses, most of them small firms, fail in any given year, and U.S. central bank researchers estimated that from March 2020 through February of this year the figure has been perhaps a quarter to a third higher.

That included 100,000 “excess” failures among firms engaged in close-contact services such as barber shops and nail salons, a sector described by the Fed research group as the sector hardest hit by the economic fallout from the pandemic.

While potentially devastating for the owners and employees of those firms, “relative to popular discussion … our results may represent an optimistic update to views about pandemic-related business failure,” the authors wrote.

Offsetting the hit to those services-oriented businesses, they noted, carry-out restaurants, grocery stores and outdoor recreation companies seemed to suffer fewer failures than usual, with the net result being a smaller-than-anticipated blow to the overall economy.

“Many industries have likely seen lower-than-usual exit rates, and exiting businesses do not appear to represent a large share of U.S. employment,” the researchers wrote.

The study was the latest to sound a positive note on an economic recovery that has proceeded faster than expected, with top Fed officials confident that much of the potential permanent damage had been avoided. Earlier research had anticipated widespread business failures due to the pandemic, with 400,000 or more small firms going dark.

Census and other surveys continue to reflect stress among some firms that continue to operate, and the Fed researchers acknowledged that more failures could occur if, for example, banks, landlords and creditors become less flexible with their business tenants as conditions return to normal.

Nor does the study account for the millions of still-lost jobs at surviving firms that cut staff or reduced operations, or for the disproportionate losses felt among racial or ethnic groups over-represented in the most devastated industries.

But it does start to put some scope around one of the potential economic scars from the pandemic, and suggests that small businesses appear to have been both more resilient than anticipated, and were propped up effectively by loans from the Paycheck Protection Program and other federal aid.

EUROZONE:-

Technical Analysis

Euro zone politicians, courts and policy hawks will pose a stiff challenge this year to the ECB’s resolve to pin down the bloc’s borrowing costs, precisely at a time when higher U.S. Treasury yields are tempting investors away from European markets.

The European Central Bank has held sovereign debt yields low through bond purchases, and recently increased buying in its 1.85 trillion-euro ($2.22 trillion) emergency stimulus scheme, known as PEPP.

And it is no longer battling alone to support the euro economy, as the pandemic induced governments to spend more and to create an 800 billion-euro Recovery Fund, seeded by joint European Union borrowing.

However, an emergency appeal at Germany’s top court has halted the fund’s ratification. The court should decide in the coming weeks on the suit which was brought by five plaintiffs, including the former leader of the far-right Alternative for Germany party.

Given how far Europe’s recovery lags the United States, delaying the fund could mean “economic disaster”, ECB board member Isabel Schnabel has warned.

It is most concerning for poorer southern European countries, which stand to benefit the most from disbursements. Their borrowing costs fell last year as the Recovery Fund deal was seen reducing risks for their economies, but yields have started to edge up on concerns that support for these economies may not come soon enough.

Italy alone could receive a total 250 billion euros from the fund, Credit Suisse estimates.

“(The ECB) is doing enough, but the game is not over,” said Guy Miller, chief market strategist at Zurich Insurance Group . “They have to remain vigilant, and they will have to make sure to continue to fight.”

TECHNICAL SUMMARY

EUR/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.1980, TAKE PROFIT AT 1.2030 AND STOP LOSS AT 1.1965.

USD/JPY:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 108.50, TAKE PROFIT AT 107.50 AND STOP LOSS  AT 109.00.

USD/CHF:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.9195, TAKE PROFIT AT 0.9145 AND STOP LOSS  AT 0.9220.

Dax 30:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 15,480.50, TAKE PROFIT AT 15,580.50 AND STOP LOSS  AT 15,430.50.

SILVER:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Buy AT 26.070, TAKE PROFIT AT 26.170 AND STOP LOSS AT 26.020.

ETHEREUM :-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 2,250.50, TAKE PROFIT AT 2,350.50 AND STOP LOSS 2,200.50 .

 

 

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EUR/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.1980, TAKE PROFIT AT 1.2030 AND STOP LOSS AT 1.1965.

USD/JPY:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 108.40, TAKE PROFIT AT 107.40 AND STOP LOSS  AT 108.90.

USD/CHF:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.9145, TAKE PROFIT AT 0.9105 AND STOP LOSS  AT 0.9165.

NASDAQ 100:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 13,900.50, TAKE PROFIT AT 14,200.50 AND STOP LOSS  AT 13,800.50.

SILVER:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Buy AT 25.900, TAKE PROFIT AT 26.150 AND STOP LOSS AT 25.775.

BITCOIN :-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 54,685.50, TAKE PROFIT AT 51,685.50 AND STOP LOSS  56,185.50 .

 

 

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TECHNICAL ANALYSIS REPORT – 21 APRIL 2021 ASIAN MARKET:- Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.05% to 3,470.68. Hong Kong’s Hang Seng Index was down about 1.76% to 28,606.75. Japan’s benchmark Nikkei average. Nikkei 225 is trading down 2.03 per cent at 28,508.06 on Wednesday, while the Australian Index S&P / ASX 200 fell 0.29 per cent to 6,997.71. South Korea’s Kospi was down by 1.33% to 3177.29. EUROPEAN MARKET:- The FTSE MIB climbed down by 2.44% to 24,088.46 In the cash markets, the DAX futures Germany was trading 1.55% lower at 15,29.25. CAC 40 futures in France climbed down by 2.09% to 6,165.11, while the FTSE 100 futures in the U.K. fell by 2.00% to 6,859.08, at the time of writing. US MARKET:- In the U.S. on Wall Street, the Dow Jones Industrial Average closed 0.75% down at 33,821.30 the S&P 500 was down 0.68% to 4,134.94 and the Nasdaq 100 was down 0.92% at 13,786.27. FOREX MARKET:- In the Forex market, GBPUSD rose 0.04% at 1.3942. The USDJPY was down 0.05% at 108.03. The USDCHF was down 0.01% at 0.9158. EURUSD was down 0.04% at 1.2029, EUR/GBP was down 0.06% at 0.8628, at the time of writing. COMMODITY MARKET;- In the commodity market, U.S. Gold futures rose 0.51% at $1,787.70. Elsewhere, Silver futures rose 1.23% to $26.157 per ounce, Platinum rose 1.04% at $1,201.05 per ounce, and Palladium was up 0.91% at $2,785.50. Brent crude oil was down 0.51% to $66.22 barrel while U.S. West Texas Intermediate (CLc1) fell 0.53% at $62.33. CRYPTO-CURRENCY MARKET:- In the Cryptocurrency Markets, BTCUSD is at $55,661 up 3.45%, Ethereum at 2,321.18 up 11.90%, Litecoin at 265.442 up 11.46%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: Technical Analysis Barclays down 3.13% at 181.80, Apple Inc. down 1.28% at $133.11, Amazon down 1.28% at $ 3,334.44, TESLA Inc. up 0.61% at $718.99, Toyota Motor flat at 8,418.0, Microsoft down 0.77% at $258.74, SAP down 0.77% at 115.290. Economic news: USA MARKET Technical Analysis A top Treasury Department official met on Tuesday with 20 top bankers to discuss President Joe Biden’s $2.3 trillion infrastructure plan and ways to use public-private partnerships to expand economic inclusion, the agency said in a statement. U.S. Deputy Treasury Secretary Wally Adeyemo told 20 bank chief executives who are members of the nonpartisan Bank Policy Institute research group, that “now is the moment to reimagine and rebuild a new American economy” that rewards work, not wealth, and create a tax code that helps end “profit shifting and tax games.” Adeyemo and the CEOs also discussed economic inclusion and ways to improve access to credit for low- and moderate-income communities, particularly with regard to mortgage finance as a pathway to building wealth, the statement said. BPI represents the nation’s leading banks, which collectively employ nearly 2 million Americans. Adeyemo said Biden’s infrastructure and jobs plan would create millions of well-paying jobs, rebuild infrastructure, and position the U.S. to outcompete China, Treasury said. The Biden administration has made ending systemic racism and disparities a central part of its overall economic policy. He also focused on the Treasury Department’s continuing review of U.S. economic and financial sanctions policies adopted by former President Donald Trump, and said it was look to identify both “successes and opportunities for change or improvements.” Adeyemo told academics and other experts on sanctions earlier this month that he viewed sanctions as a “potential and valuable tool for policymakers” and it was important to ensure they remained a viable option for years to come. EUROZONE:- Technical Analysis Britain on Tuesday eased controls designed to prevent a backlog of trucks in southern England caused by new post-Brexit paperwork, saying vehicles taking goods to the European Union would no longer need a special permit to enter the port region. The government said the relaxation showed goods transport companies had adapted to the new requirements, and were arriving at the border fully prepared. The permit system was introduced in Kent when Britain completed its exit from the EU at the end of 2020 to mitigate fears of trade being brought to a standstill due to ports being blocked by vehicles trying to travel without the correct documentation. Before Christmas, thousands of trucks were held up at the port of Dover (NYSE:DOV) as some companies stockpiled ahead of Britain’s departure from the EU and after France shut its borders following an outbreak of a new coronavirus strain, prompting fears of severe disruption when the new Brexit rules came in. The government said freight volumes between Britain and the EU were operating at normal levels and cited official data showing a 46% increase in exports in February. The same data also showed British goods exports to the EU, excluding non-monetary gold and precious metals, were 41.4% below year-ago levels in January but partially recovered to be 12.5% below year-ago levels in February. TECHNICAL SUMMARY EUR/USD:- Technical Analysis Technical Analysis TRADE SUGGESTION- BUY AT 1.2010, TAKE PROFIT AT 1.2060 AND STOP LOSS AT 1.1985. USD/JPY:- Technical Analysis Technical Analysis TRADE SUGGESTION- Sell AT 108.20, TAKE PROFIT AT 107.20 AND STOP LOSS AT 108.70. USD/CHF:- Technical Analysis Technical Analysis TRADE SUGGESTION- SELL AT 0.9175, TAKE PROFIT AT 0.9115 AND STOP LOSS AT 0.9205. NASDAQ 100:- Technical Analysis Technical Analysis TRADE SUGGESTION- BUY AT 13,780.50, TAKE PROFIT AT 14,080.50 AND STOP LOSS AT 13,540.50. SILVER:- Technical Analysis Technical Analysis TRADE SUGGESTION- Buy AT 25.960, TAKE PROFIT AT 26.110 AND STOP LOSS AT 25.935. BITCOIN :- Technical Analysis Technical Analysis TRADE SUGGESTION- SELL AT 55,510.50, TAKE PROFIT AT 57,510.50 AND STOP LOSS 54,510.50 .

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TECHNICAL ANALYSIS REPORT – 22 APRIL 2021

ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.11% to 3,469.16. Hong Kong’s Hang Seng Index was down about 0.14% to 28,600.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading up 1.69 per cent at 29,002.06 on  Thursday, while the  Australian Index S&P / ASX 200 rose  0.24 per cent to 7,013.71. South Korea’s Kospi was up by 0.41% to 3185.91.

EUROPEAN MARKET:-

The FTSE MIB climbed up by 0.30%  to 24,161.46 In the cash markets, the DAX futures Germany was trading 0.44%  higher at 15,195.25. CAC 40 futures in France climbed up by 0.74% to 6,210.11, while the FTSE 100 futures in the U.K. rose by  0.52% to 6,895.08, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  0.93% up at 34,137.30 the S&P 500 was up 0.93% to 4,173.94 and the Nasdaq 100 was up 1.19% at 13,950.22.

FOREX MARKET:-

In the Forex market, GBPUSD  rose 0.10% at 1.3944. The USDJPY was down 0.06% at 107.98. The USDCHF was down 0.11% at 0.9159. EURUSD was up 0.10% at 1.2045, EUR/GBP was down 0.01% at 0.8638, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures rose 0.04% at $1,793.70. Elsewhere, Silver futures fell 0.12% to $26.538 per ounce, Platinum fell 0.03% at $1,216.05 per ounce, and Palladium was up 0.08% at $2,879.50.

Brent crude oil was down 0.83% to $64.78 barrel while U.S. West Texas Intermediate (CLc1) fell  0.88% at $60.82.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD is at $53,852 down 4.13%, Ethereum at 2,415.18 up 3.74%, Litecoin at 259.442  down 2.49%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Technical Analysis

Daimler up 0.01% at 73.645, Apple Inc. up 0.29% at $133.50, Amazon up 0.82% at $ 3,334.44, TESLA Inc. up 0.61% at $718.99, Netflix down 7.40% at 508.90, Microsoft up 0.90% at $260.58 , SAP up 0.95% at 116.390.

Economic news:

USA MARKET

Technical Analysis

President Joe Biden on Wednesday announced tax credits for certain businesses that pay employees who take time off to get COVID-19 shots, a new effort to involve corporate America in his vaccination campaign.

“I’m calling on every employer, large and small, in every state to give employees the time off they need with pay to get vaccinated,” the Democratic president said.

The tax credits will apply to businesses with fewer than 500 employees, he said.

In a speech, Biden also said he expects the United States to reach his 100-day goal of getting 200 million coronavirus vaccine shots in arms by the end of the day, even as the nation faces an increase in infections.

“Today we hit 200 million shots,” Biden said. “It’s an incredible achievement for the nation.”

Biden said the vaccine effort is entering a new phase with everyone over age 16 becoming eligible to be vaccinated. Biden said 80% of all seniors have received at least one shot, leading to a dramatic decline in the deaths of elderly Americans.

“If you’ve been waiting for your turn, wait no longer,” Biden said.

Biden administration officials said the government plans to reimburse businesses for the cost of giving workers as many as 80 hours in paid time off to get their shots or recover from any side effects.

The tax credit is for up to $511 per day for each worker, through September. Businesses with fewer than 500 employees employ roughly half of U.S. private-sector workers. The tax credits were authorized under Democratic-backed COVID-19 pandemic relief legislation passed by Congress and signed by Biden over Republican opposition.

The administration’s chief problem in its response to the pandemic is now shifting from securing enough vaccine supply to persuading enough Americans to seek out the available shots.

More than half of American adults have had at least one vaccine dose, according to the U.S. Centers for Disease Control and Prevention (CDC). A third of U.S. adults are fully vaccinated, as well as 26% of the population overall.

The U.S. COVID-19 death toll of more than 568,000 leads the world. The coronavirus is still killing hundreds of Americans daily and many Americans have shown a reluctance to get vaccinated.

Countries around the world with less successful vaccination campaigns than the United States are dealing with a spike in infections.

Biden, who has loaned some unused vaccines to Canada and Mexico and donated funds to a multilateral vaccination effort for poor countries, said the White House is still looking at its options for eventually sending vaccines to Canada, Central America and elsewhere. Biden told reporters after his speech that he spoke with Canadian Prime Minister Justin Trudeau earlier on Wednesday.

“We don’t have enough to be confident to send it abroad now, but I expect we’re going to be able to do that,” Biden said.

“We’re looking at what is going to be done with some of the vaccines that we are not using. We’ve got to make sure they are safe to be sent.”

EUROZONE:-

Technical Analysis

The Bank of England might strengthen its controls on cloud data providers and other technology firms to counter possible risks to the stability of the financial system from the rise of fintech, Deputy Governor Dave Ramsden said.

The Bank of England (BoE) has expressed concerns before about the reliance by financial firms, especially fintech startups, on third-party technology companies for key parts of their operations, and Ramsden said this scrutiny would intensify.

“We plan to analyse further whether we need even stronger tools to manage the risk that critical third parties, including potentially cloud and other major tech providers, may pose to the Bank’s … objectives,” Ramsden told the Innovate Finance conference on Wednesday.

Regulators globally have been tightening scrutiny of outsourced functions as they worry that core services financial firms provide to customers are vulnerable to outages at third parties.

Britain’s government is keen to promote fintech as an area of growth and hopes that nimbler regulation will enable it to steal a march over the European Union, where British financial firms now have reduced access due to Brexit.

The BoE has said it will not water down regulatory standards, but does see scope for more streamlined regulation of smaller banks and in some areas of insurance.

On Monday, finance minister Rishi Sunak asked the BoE to work with the finance ministry on whether the central bank should set up a digital version of sterling to compete with cryptocurrencies, which he dubbed ‘Britcoin’.

The government is also consulting over proposals to relax stock market listing rules due to a concern that Britain is less attractive than the United States as a listing venue, especially for tech companies whose founders want to keep an sizeable role.

Ramsden said the BoE had taken a step to make life easier for smaller financial companies on Monday by giving firms more direct ways to access its high-value payments system, which is dominated by major banks and processing companies.

Other steps included work standardising the identification of businesses involved in financial transactions, and looking at whether artificial intelligence could ease the burden of regulatory compliance.

TECHNICAL SUMMARY

EUR/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.2040, TAKE PROFIT AT 1.2090 AND STOP LOSS AT 1.2015.

USD/JPY:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 107.90, TAKE PROFIT AT 107.50 AND STOP LOSS  AT 108.15.

USD/CHF:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.9150, TAKE PROFIT AT 0.9100 AND STOP LOSS  AT 0.9175.

NASDAQ 100:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 13,930.50, TAKE PROFIT AT 14,030.50 AND STOP LOSS  AT 13,880.50.

SILVER:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Buy AT 26.460, TAKE PROFIT AT 26.660 AND STOP LOSS AT 26.360.

ETHEREUM:-

Technical Analysis

TRADE SUGGESTION- SELL AT 2,420.50, TAKE PROFIT AT 2,620.50 AND STOP LOSS  2,320.50 .

 

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TECHNICAL ANALYSIS REPORT – 27 APRIL 2021

ASIAN MARKET:-

Mainland Chinese stocks were up by the early morning. The Shanghai Composite was down by 0.54% to 3,422.16. Hong Kong’s Hang Seng Index was down about 0.20% to 28,903.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.18 per cent at 29,080.06 on  Tuesday, while the  Australian Index S&P / ASX 200 fell  0.29 per cent to 7,025.71. South Korea’s Kospi was down by 0.28% to 3,207.91.

EUROPEAN MARKET:-

The FTSE MIB climbed  up by 0.52%  to 24,513.46 In the cash markets, the DAX futures Germany was trading 0.11%  higher at 15,296.25. CAC 40 futures in France climbed up by 0.28% to 6,275.52, while the FTSE 100 futures in the U.K. rose by  0.35% to 6,963.08, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  0.18% down at 33,981.57 the S&P 500 was up 0.22% to 4,189.30 and the Nasdaq 100 was up 0.87% at 14,138.78.

FOREX MARKET:-

In the Forex market, GBPUSD  fell 0.10% at 1.3882. The USDJPY was up 0.18% at 108.28. The USDCHF was up 0.21% at 0.9158. EURUSD was  down 0.10% at 1.2071, EUR/GBP was up 0.07% at 0.8695, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures fell 0.03% at $1,779.70. Elsewhere, Silver futures fell 0.04% to $26.198 per ounce, Platinum fell 0.18% at $1,246.05 per ounce, and Palladium was down 0.14% at $2,928.50.

Brent crude oil was up 0.54% to $65.36 barrel while U.S. West Texas Intermediate (CLc1) rose  0.50% at $62.22.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD is at $53,390.7 rose 1.91%, Ethereum at 2,492.18 up 1.60%, Litecoin at 247.940  up 3.82%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TOP STOCKS

AstraZeneca down 0.45% at 7,530.0, Apple Inc. up 0.30% at $134.72, Amazon up 2.04% at $ 3,409.00, TESLA Inc up  1.21% at $738.20, Barclays up 2.25% at 186.08, Microsoft up 0.15% at $261.55 ,  Daimler  up 1.31% at 74.635.

Economic news:

USA MARKET

Economic news

U.S. states and local governments are raring to tap billions of dollars coming their way in new federal stimulus funding, but are anxiously awaiting guidance to determine whether items on their wish lists are allowed.

U.S. Treasury Department guidance is also expected to clarify states’ ability to cut taxes and may address using stimulus money to pay off debt.

The $1.9 trillion American Rescue Plan Act, signed by President Joe Biden in March, allocates $350 billion for states, municipalities, counties, tribes, and territories to help repair their coronavirus-damaged budgets and economies. The federal government has a tight deadline to start distributing the money.

“The clock is certainly ticking. They have to get the money out the door by May 10,” said Mark Ritacco, government affairs director at the National Association of Counties.

Unlike the $150 billion governments received under last year’s federal CARES Act, which was limited to pandemic-related spending, the new money can be used to replace revenue lost due to the pandemic, provide “premium pay” for essential workers, and to invest in water, sewer, and broadband infrastructure, according to the U.S. Treasury.

Governments have “tons and tons of questions” about eligible uses for the money including financing other capital improvements that were deferred due to the pandemic and parking stimulus funds in interest bearing accounts, according to Emily Swenson Brock, director of the Government Finance Officers Association’s Federal Liaison Center.

“There’s just this wide berth of interpretation in the (legislative text) and that’s why we’re a little anxious to see if the Treasury guidance makes limitations or if it allows for greater opportunity,” she said.

Brock added that several state legislatures are talking about using stimulus money to pay off outstanding debt, a move not addressed in the act.

New Jersey has identified bonds that could be retired in the next few years if the state “is afforded greater flexibility,” according to Jennifer Sciortino, spokeswoman for the state treasurer’s office.

“At this point, it is entirely unknown if the federal government will permit us to use funds to pay off existing debts,” she said.

Illinois Governor J.B. Pritzker wants to use stimulus dollars to take out the remainder of the $3.2 billion his state borrowed last year through the U.S. Federal Reserve’s Municipal Liquidity Facility to ease a cash crunch.

The act does not allow the money to be used for pensions or to subsidize new state tax cuts.

The latter prohibition sparked five lawsuits against the Biden administration by Republican attorneys general in several states. Ohio filed the first case on March 17, contending “Congress lacks constitutional authority to limit states’ taxing power in this manner.”

With the case still pending, the Ohio House of Representatives on Wednesday approved a 2% income tax cut totaling about $380 million over two years.

Bills have been introduced in 16 other states as of April 6 to cut personal or corporate income taxes, according to the National Conference of State Legislatures.

U.S. Treasury Secretary Janet Yellen has said nothing in the act prevents tax cuts and that further guidance would be forthcoming.

EUROZONE:-

EUROZONE

The German government has raised its growth forecast for this year to 3.5%, compared with the 3% growth it was expecting back in January, a source said, adding that the upward revision was justified by a stronger-than-expected fourth quarter.

The source added that the government expected Europe’s largest economy to expand by 3.6% in 2022.

The economy ministry declined to comment on the figures. The government is due to present its 2021 economic growth forecast on Tuesday.

Germany’s leading economic institutes said earlier this month they expected the gross domestic product to grow by 3.7% this year and 3.9% in 2022.

German business morale improved only slightly in April as a third wave of COVID-19 infections and a semiconductor shortage in the motor vehicle sector slowed a recovery in Europe’s largest economy, a survey showed on Monday.

Export-oriented manufacturers are currently benefiting from higher demand from China and the United States, whereas domestically-focussed services are suffering under extended restrictions to contain the third wave of COVID-19 infections.

TECHNICAL SUMMARY

EUR/USD:-

EUR/USD Technical Analysis
EUR/USD

TRADE SUGGESTION- BUY AT 1.2065, TAKE PROFIT AT 1.2095 AND STOP LOSS AT 1.2050.

USD/CAD:-

USD/CAD Technical Analysis
USD/CAD

TRADE SUGGESTION- Sell AT 1.2400, TAKE PROFIT AT 1.2360 AND STOP LOSS  AT 1.2420.

USD/CHF:-

USD/CHF Technical Analysis
USD/CHF

TRADE SUGGESTION- SELL AT 0.9160, TAKE PROFIT AT 0.9100 AND STOP LOSS  AT 0.9190.

DAX 30:-

DAX 30 Technical Analysis
DAX 30 Technical Analysis

TRADE SUGGESTION- BUY AT 15,300.50, TAKE PROFIT AT 15,400.50 AND STOP LOSS  AT 15,250.50.

SILVER:-

SILVER Technical Analysis
SILVER Technical Analysis

TRADE SUGGESTION- Buy AT 26.170, TAKE PROFIT AT 26.370 AND STOP LOSS AT 26.070.

BITCOIN:-

BITCOIN Technical Analysis
BITCOIN Technical Analysis

TRADE SUGGESTION- SELL AT 53,500.50, TAKE PROFIT AT 52,500.50 AND STOP LOSS  54,000.50 .

 

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ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.12% to 3,438.16. Hong Kong’s Hang Seng Index was up about 0.15% to 28,944.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading up 0.35 per cent at 29,097.06 on  Wednesday, while the  Australian Index S&P / ASX 200 rose  0.48 per cent to 7,067.71. South Korea’s Kospi was down by 0.80% to 3,187.91.

EUROPEAN MARKET:-

The FTSE MIB climbed  down by 0.17%  to 24,473.46 In the cash markets, the DAX futures Germany was trading 0.31%  lower at 15,249.25. CAC 40 futures in France fell down by 0.03% to 6,273.76, while the FTSE 100 futures in the U.K. fell by  0.26% to 6,944.97, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  0.01% up  at 3,984.93  the S&P 500 was down 0.02% to 4,186.72 and the Nasdaq 100 was down 0.34% at 14,090.78.

FOREX MARKET:-

In the Forex market, GBPUSD  fell 0.26% at 1.3877. The USDJPY was up 0.17% at 108.86. The USDCHF was up 0.18% at 0.9151. EURUSD was  down 0.10% at 1.2077, EUR/GBP was up 0.20% at 0.8704, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures fell 0.43% at $1,771.15. Elsewhere, Silver futures fell 1.24% to $26.082 per ounce, Platinum fell 0.78% at $1,223.05 per ounce, and Palladium was down 0.43% at $2,933.50.

Brent crude oil was down 0.06% to $65.83 barrel while U.S. West Texas Intermediate (CLc1) fell  0.02% at $62.93.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD is at $55,044 rose 2.84%, Ethereum at 2,641.41 up 4.95%, Litecoin at 258.682  up 3.17%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TOP STOCKS

Adidas down 1.36% at 262.32, Apple Inc. up 0.30% at $134.72, Amazon up 0.25% at $ 3,417.43, TESLA Inc down  4.53% at $704.74, HSBC up 4.17% at 440.40, Microsoft up 0.16% at $261.97 ,  Unilever  down 0.82% at 4,052.5.

Economic news:

USA MARKET

Economic news

The U.S. Consumer Financial Protection Bureau (CFPB) said on Tuesday it was taking immediate action to understand and resolve how “hundreds of thousands” of mortgage borrowers’ bank accounts were debited for duplicate payments after a mortgage servicer announced the error on Monday.

Texas-based Mr. Cooper, which is the largest U.S. non-bank mortgage servicer, announced an unauthorized April 24 discovery of duplicate-payment drafts from some of its borrowers’ bank accounts in a blog post, adding that it was working on reversing what it called a “payment-processing issue.”

“The CFPB is taking immediate action to understand and resolve the situation that has affected hundreds of thousands of consumers. The CFPB will use all appropriate tools at our disposal to help ensure harmed consumers receive relief,” Dave Uejio, CFPB acting director, said in a statement.

The firm said in the post that “all duplicate transaction requests have been stopped. Any impacted customers will not be responsible for any fees or other negative financial impact this may have caused.”

The drafts did not affect all customers and reflected an unidentified vendor’s error. An investigation found there were no signs of system infiltration or hacking, it said.

While some affected customers received payment reversals over the weekend, others could expect payments or reversals to be reflected by Tuesday, the firm said.

The watchdog’s response comes amid ongoing scrutiny of mortgage firms in fear of a looming COVID-related foreclosure crisis, Reuters reported last week.

EUROZONE:-

Economic news

The finance ministers of France and Germany support the U.S. government’s idea of a global minimum corporate tax rate of 21%, they said in a joint interview in Zeit Online on Tuesday.

“I, personally, have nothing against the U.S. proposal,” Germany’s Olaf Scholz was quoted on the weekly newspaper’s website as saying. “If that is the result of negotiations, we would also be agreed,” France’s Bruno Le Maire said, according to Zeit.

Their Austrian counterpart on Tuesday also welcomed the proposal, floated by U.S. Treasury Secretary Janet Yellen, who said this month she was working with G20 countries to agree on a minimum rate, and put forward a figure of 21%.

A rate of 12.5% for multinationals had been under discussion for new rules being negotiated at the Organisation for Economic Cooperation and Development.

Austrian Finance Minister Gernot Bluemel said the U.S. proposal was constructive.

“This tax fairness must also apply above all between digital and analogue business models,” he said, adding that he hoped for a quick agreement. Austria has a 25% corporate tax rate.

Scholz and Le Maire are holding talks on Tuesday and, among other issues, are due to discuss tapping money from the European Recovery Fund.

TECHNICAL SUMMARY

GBP/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.3880, TAKE PROFIT AT 1.3920 AND STOP LOSS AT 1.3860.

USD/CAD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.2410, TAKE PROFIT AT 1.2370 AND STOP LOSS  AT 1.2430.

USD/CHF:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.9150, TAKE PROFIT AT 0.9110 AND STOP LOSS  AT 0.9170.

CAC 40:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 6,270.50, TAKE PROFIT AT 6,310.50 AND STOP LOSS  AT 6,250.50.

GOLD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Buy AT 1770.10, TAKE PROFIT AT 1810.10 AND STOP LOSS AT 1750.10.

BITCOIN:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 55,120.50, TAKE PROFIT AT 54,120.50 AND STOP LOSS  55,620.50 .

 

 
 
 
 
 

 

 

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TECHNICAL ANALYSIS REPORT – 30 APRIL 2021

ASIAN MARKET:-

Mainland Chinese stocks were up by the early morning. The Shanghai Composite was down by 0.97% to 3,441.16. Hong Kong’s Hang Seng Index was down about 1.71% to 28,807.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.74 per cent at 28839.06 on  Friday, while the  Australian Index S&P / ASX 200 rose  0.27 per cent to 7,084.71. South Korea’s Kospi was down by 0.73% to 3,151.91.

EUROPEAN MARKET:-

The FTSE MIB climbed  down by 0.74%  to 24,278.46 In the cash markets, the DAX futures Germany was trading 0.90%  lower at 15,154.25. CAC 40 futures in France climbed down by 0.07% to 6,302.57, while the FTSE 100 futures in the U.K fell  by  0.03% to 6,961.97, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  0.71% up  at 34,060.38  the S&P 500 was up 0.68% to 4,211.29 and the Nasdaq 100 was up 0.22% at 14,082.03.

FOREX MARKET:-

In the Forex market, GBPUSD  rose 0.01% at 1.3941. The USDJPY was down 0.12% at 108.78. The USDCHF was up 0.02% at 0.9085. EURUSD was  down 0.03% at 1.2113, EUR/GBP was up 0.01% at 0.8691, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures rose 0.14% at $1,770.85. Elsewhere, Silver futures fell 0.24% to $25.983 per ounce, Platinum rose 0.42% at $1,207.05 per ounce, and Palladium was up 0.10% at $2,961.50.

Brent crude oil was down  0.48% to $67.73 barrel while U.S. West Texas Intermediate (CLc1) fell  0.63% at $67.75.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD is at $54,281 fell 0.69%, Ethereum at 2,776.41 up 4.32%, Litecoin at 263.670  up 2.97%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Technical Analysis

Daimler down 2.05% at 73.740, Apple Inc.  down 0.07% at $133.48, Amazon.com up 0.37% at $ 3,471.31, TESLA Inc down  2.51% at $677.00, SAP down 0.58% at 118.100, Microsoft down 0.81% at $252.51 ,  Unilever up 3.32% at 4213.96.

Economic news:

USA MARKET

Technical Analysis

U.S. President Joe Biden’s plans to raise taxes on corporate America could put an end to a four-decade global drop in corporate taxation levels.

Governments worldwide are desperate to raise extra revenue to rebuild their pandemic-ravaged economies and corporate taxation is becoming an obvious target after decades of decline.

To finance a multi trillion-dollar infrastructure investment plan, Biden wants to lift the U.S. corporate tax rate from 21% to 28% and scale back loopholes that companies can use to cut their tax bills.

Though there is no assurance that Congress will approve a rate that high, 28% would be well above the current average of 21% for member countries of the Paris-based OECD group of industrialised nations.

However, it would be well below the 46% U.S. companies faced in the 1980s before the free-market Reagan and Thatcher revolutions fired up competition between governments worldwide to cut their corporate tax rates lower.

“It’s time for corporate America and the wealthiest 1% of Americans to pay their fair share – just pay their fair share,” Biden told a joint session of Congress on Wednesday.

The United States will not be alone as Britain is planning its first rise in corporate tax since 1974, which will see big, profitable companies pay 25% from 2023, up from 19%.

Meanwhile, 140 countries are negotiating at the OECD to agree by mid year a global minimum corporate tax rate to stop multinationals from simply booking profits in low-tax countries like Ireland, which has a 12.5% corporate tax rate.

The Biden administration has suggested the minimum rate should be 21%, which has found some traction with big European countries like France and Germany, even though it is well above the 12.5% which had been the centre of discussion until then.

EUROZONE:-

Technical Analysis

British trade minister Liz Truss will on Friday press the case for sweeping World Trade Organization (WTO) reforms aimed at countries who distort trade with state subsidies when she meets the trade body’s new head in Geneva.

The meeting will be her first face-to-face encounter with recently-elected WTO chief Ngozi Okonjo-Iweala, who has committed to reform the organisation.

As Truss looks to remodel post-Brexit Britain as a guardian of free trade and the rules-based international system, she has repeatedly called for a tightening of WTO rules and stricter enforcement.

Truss has been an outspoken critic of Chinese trade practices, previously citing unfair industrial subsidies and intellectual property theft, and warning that without action the West may lose its place in the global order.

“The WTO needs to modernise and tackle big global issues like climate change and technological advancement,” a trade department spokeswoman said ahead of Friday’s meeting.

“We need a new set of digital trade rules for the 21st century, and more needs to be done to tackle pernicious practices like industrial subsidies so trade is fair as well as free.”

TECHNICAL SUMMARY

EUR/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.2120, TAKE PROFIT AT 1.2160 AND STOP LOSS AT 1.2100.

USD/CAD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.2280, TAKE PROFIT AT 1.2240 AND STOP LOSS  AT 1.2300.

GBP/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.3950, TAKE PROFIT AT 1.4000 AND STOP LOSS  AT 1.3925.

NASDAQ 100:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 13,970.50, TAKE PROFIT AT 14970.50 AND STOP LOSS  AT 13470.50.

GOLD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1770.30, TAKE PROFIT AT 1690.30 AND STOP LOSS AT 1810.30

BITCOIN:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 53,970.50, TAKE PROFIT AT 52970.50 AND STOP LOSS  54,470.50 .

 

 

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WEEKLY GLOBAL MARKETS TECHNICAL ANALYSIS REPORT – 02 MAY 2021

Germany Business Expectations

 WHEN:                                                                WHAT IT INFLUENCES:

 26 th APRIL 2021                                                EUR and its subsequent 

                                                                             pairs

WHAT’S HAPPENING:

German Business Expectations rates the expectations of businesses in Germany for the following six months. It is a sub-index of the German Ifo Business Climate Index.

A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

  U.S. Core Durable Goods Orders MoM, USA 

WHEN:                                                                 WHAT IT INFLUENCES:

26thApril 2021                                                   USD and its subsequent 

                                                                             pairs

WHAT’S HAPPENING: 

Core Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering trends. A higher reading indicates increased manufacturing activity.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

Bank of Japan Monetary Policy Statement,JAPAN

WHEN:                                                               WHAT IT INFLUENCES:

26th APRIL 2021                                                  JPY and its subsequent 

                                                                             pairs

WHAT’S HAPPENING: 

Bank of Japan Monetary Policy Statement contains the outcome of the BoJ’s decision on asset purchases and commentary about the economic conditions that influenced their decision.

Gold Down 2nd Week in Row as Nemesis Yield Returns

WHAT IT HAD INFLUENCED:

GOLD 

WHAT HAPPENED

Gold was down for a fourth day in a row Friday as intermittent spikes in the key yield of U.S. bonds kept it under constant pressure.

The yield on the 10-year Treasury note hit a two-week high of 1.684 on Thursday as bonds started selling off again this week after a spike in U.S. consumer confidence, which hit 14-month highs in April.

Aside from consumer spending, a rash of US economic data, from inflation to homebuilding, house prices and employment, have exceeded forecasts lately, boosting hopes for faster-than-expected recovery from the coronavirus pandemic.

Crude Oil Prices Slip

WHAT IT HAD INFLUENCED:

BRENT & WTI CRUDE OIL

WHAT HAPPENED:  

Crude oil prices slipped on Friday, following a broader risk-off move in equities, with news of a further rise in Iranian output adding to reasons to lock in profits at the end of a strong month.

As of next week, Saudi Arabia will start to unwind the voluntary 1 million barrel a day output cut it put in place in February, confident that reviving world demand will absorb the extra barrels. At the same time, the rest of the OPEC+ bloc will also open their taps a little wider, as part of a plan to return another 1 million b/d of production by the end of the second quarter.  

Reports reveealed in a monthly survey that Iranian crude output had risen another 200,000 barrels a day on average in April, offsetting involuntary production shortfalls at other OPEC members such as Libya in the course of the month. The return of Iranian crude to the world market is gathering speed as the pressure from Trump-era sanctions on the Islamic Republic weakens. Iran is free to increase its output because it isn’t bound by the so-called OPEC+ pact on withholding supply from the market. 

5 KEY EVENTS TO WATCH OUT

Germany Manufacturing Purchasing Managers Index (PMI)

 WHEN:                                                                WHAT IT INFLUENCES:

3rd May 2021                                         EUR and its subsequent pairs                                                                   

WHAT’S HAPPENING: 

The German Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.

A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

Australia Interest Rate Decision

     WHEN:                                                               WHAT IT INFLUENCES:

4th May 2021                                       EUR and its subsequent pairs   

WHAT’S HAPPENING:  

 Reserve Bank of Australia (RBA) board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the AUD, while a lower than expected rate is negative/bearish for the AUD.

U.S. ADP Nonfarm Employment Change

WHEN:                                                               WHAT IT INFLUENCES:

5th May  2021                                                  USD and its subsequent 

                                                                             pairs

WHAT’S HAPPENING: 

The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

U.S. Initial Jobless Claims

WHEN:                                                                WHAT IT INFLUENCES:

6th May 2021                                                  USD and its subsequent 

                                                                             Pairs 

WHAT’S HAPPENING: 

Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD. 

U.K. Interest Rate Decision

WHEN:                                                                 WHAT IT INFLUENCES:

6th May 2021                                                    GBP and its subsequent 

                                                                             pairs

WHAT’S HAPPENING: 

Bank of England (BOE) monetary policy committee members vote on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the GBP, while a lower than expected rate is negative/bearish for the GBP.

EQUITIES IN THE COMING WEEK

1. Pfizer(PFE) to announce its Quarterly Results on 4th May 2021, EPS estimated to 0.7773 per share while revenue estimated 13.67B. 

2. Hyatt(H) to announce its Quarterly Results on 4th  May 2021, EPS estimated to -1.3 per share while revenue estimated 465.32M.

3.Paypal (PYPL) to announce its Quarterly Results on 5th May 2021, EPS estimated to 1.01 per share while revenue estimated 5.9B.

4. Uber Tech (UBER) to announce its Quarterly Results on 5th May 2021, EPS estimated to -0.557  per share while revenue estimated 102.28B.

5. Black Rock (TCPC) to announce its Quarterly Results on 5th May 2021, EPS estimated to 0.3186 per share while revenue estimated 844.56M.

     TOP CURRENCIES IN THE UPCOMING  WEEK

EUR/USD 

Technical Analysis

EUR/USD is trading in a upward channel, the Up side can be seen in the coming days.

 USD/JPY

Technical Analysis

USD/JPY is trading in a Downward channel, the Down side can be seen in the coming days

GBP/USD

Technical Analysis

GBP/USD is trading in an Upward channel, the Up side can be seen in the coming days.

TOP INDEX TO WATCH OUT

Nasdaq 100

Technical Analysis

Nasdaq 100 is trading in a upward channel, the Up side can be seen in the coming days.

CAC 40 

Technical Analysis

CAC 40 is trading in a upward channel, the Up side can be seen in the coming days.

FTSE 100

Technical Analysis

FTSE 100 is trading in a upward channel, the Up side can be seen in the coming days.

TOP COMMODITIES TO WATCH OUT

GOLD

Technical Analysis

Gold is trading in a upward channel, the Up side can be seen in the coming days.

Brent Oil

Technical Analysis

Brent Crude is trading in a upward channel, the Up side can be seen in the coming days.

TOP CRYPTO -CURRENCIES TO WATCH OUT

Bitcoin

Technical Analysis

Bitcoin is trading in a upward channel, the Up side can be seen in the coming days.

ETHEREUM

Technical Analysis

Ethereum is trading in a upward channel, the Up side can be seen in the coming days.

 DATA WATCH

Technical Analysis

 

 

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TECHNICAL ANALYSIS REPORT – 03 MAY 2021

ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.01% to 3,446.16. Hong Kong’s Hang Seng Index was down about 1.56% to 28,229.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.83 per cent at 28,812.06 on  Monday, while the  Australian Index S&P / ASX 200 rose  0.06 per cent to 7,030.71. South Korea’s Kospi was down by 0.75% to 3,124.91.

EUROPEAN MARKET:-

The FTSE MIB climbed  down by 0.56%  to 24,141.46 In the cash markets, the DAX futures Germany was trading 0.12%  lower at 15,135.25. CAC 40 futures in France climbed down by 0.53% to 6,269.57, while the FTSE 100 futures in the U.K rose  by  0.12% to 6,969.97, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  0.54% down  at 33,874.38  the S&P 500 was down 0.72% to 4,181.29 and the Nasdaq 100 was down 0.85% at 13,962.03.

FOREX MARKET:-

In the Forex market, GBPUSD  fell 0.06% at 1.3805. The USDJPY was up 0.32% at 109.63. The USDCHF was up 0.05% at 0.9138. EURUSD was  down 0.01% at 1.2017, EUR/GBP was up 0.16% at 0.8703, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures rose 0.35% at $1,773.85. Elsewhere, Silver futures rose 0.54% to $26.012 per ounce, Platinum rose 0.16% at $1,205.05 per ounce, and Palladium was up 0.38% at $2,952.50.

Brent crude oil was down  0.64% to $66.32 barrel while U.S. West Texas Intermediate (CLc1) fell  0.66% at $63.16.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD is at $58,042 rose 2.00%, Ethereum at 3,093.41 up 6.12%, Litecoin at 276.670  up 1.87%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Technical Analysis

Daimler up 0.58% at 74.165, Apple Inc.  down 1.51% at $131.48, Amazon.com down 0.11% at $ 3,467.31, TESLA Inc up  4.79% at $709.44, SAP down 0.90% at 11.7040, Microsoft down 0.13% at $252.18 ,  Barclays down  7.00% at 175.50.

Economic news:

USA MARKET

Technical Analysis

U.S. Treasury Secretary Janet Yellen on Sunday tamped down concerns that President Joe Biden’s plans for infrastructure, jobs and families will cause inflation, saying the spending will be phased in over a decade.

“It’s spread out quite evenly over eight to 10 years,” Yellen, former Federal Reserve chair, said in an interview with NBC’s “Meet the Press.”

She said the Federal Reserve will monitor inflation carefully and has the tools to address it if necessary.

“I don’t believe that inflation will be an issue but if it becomes an issue, we have tools to address it. These are historic investments that we need to make our economy productive and fair.”

Biden’s pandemic stimulus and recovery plans total around $6 trillion and will be paid for in part by a series of tax increases on the wealthiest Americans, less than 1% of the population, and on raising corporate taxes.

Cecilia Rouse, chair of the White House National Economic Council, said there is no evidence that portends runaway inflation.

“So when we get to the other side of this pandemic, I fully expect that our labor market will come back and be flourishing,” Rouse said on “Fox News Sunday.”

“But for the time being, we expect at most transitory inflation, that is what we expect coming out of a big recession.”

Some Democratic lawmakers have expressed concerns that the tax increases would slow economic growth.

EUROZONE:-

Technical Analysis

One in four European funds have classified themselves as sustainable under new EU environmental, social and governance rules, Morningstar said on Friday, as managers try to appeal to investors pouring cash into sustainable assets.

Demand for ESG-compliant investment products is surging but confusion over what ESG claims mean in practice has spurred European policymakers to try and codify the sector to arm investors with more information and stamp out ‘greenwashing’, where lofty sustainability claims are not backed up by action.

The European Union’s Sustainable Finance Disclosure Regulation, the first part of which went live in March, aims to harmonise standards and increase transparency in the growing market for sustainable financial products.

Fund managers can classify their products as either Article 9, which means fully focused on sustainable objectives, or Article 8, which means fully or partly focused on environmental, social or sustainability issues. Investments classed as Article 6 means they are not focused on sustainability.

Data provider Morningstar said close to 24% of the ESG open-end funds and exchange-traded funds domiciled in Europe it had examined are now Article 8 or 9 based on preliminary data, representing combined assets of 2.16 trillion euros ($2.61 trillion).

Hortense Bioy, Morningstar’s Global Director of Sustainability Research, said the proportion of funds classifying themselves as sustainable less than two months after the rules went live was “surprising” given many managers are still analysing what the extra disclosure requirements entail.

She expects the number to grow in 2021.

“Some distributors say that they only want to distribute Article 8 or Article 9 funds. That is putting pressure on funds,” she told Reuters.

Just over half of all investment flows in Europe in the first three months of 2021 went into sustainable funds, swelling sustainable fund assets by 17.5% over the quarter to a record 1.3 trillion euros, Morningstar said.

It was only the second time sustainable funds have pulled in more cash in a quarter than conventional funds, the first time being early 2020, Morningstar said in its quarterly report.

TECHNICAL SUMMARY

EUR/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.2020, TAKE PROFIT AT 1.2060 AND STOP LOSS AT 1.2000.

USD/CAD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.3000, TAKE PROFIT AT 1.2260 AND STOP LOSS  AT 1.3020.

GBP/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.3810, TAKE PROFIT AT 1.3760 AND STOP LOSS  AT 1.385.

CAC 40:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 6270.50, TAKE PROFIT AT 6370.50 AND STOP LOSS  AT 6220.50.

GOLD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1770.30, TAKE PROFIT AT 1820.30 AND STOP LOSS AT 1745.30

ETHEREUM:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 3,100.50, TAKE PROFIT AT 3,300.50 AND STOP LOSS  3,000.50 .

 

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ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.01% to 3,446.16. Hong Kong’s Hang Seng Index was down about 1.56% to 28,229.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.83 per cent at 28,812.06 on  Monday, while the  Australian Index S&P / ASX 200 rose  0.06 per cent to 7,030.71. South Korea’s Kospi was down by 0.75% to 3,124.91.

EUROPEAN MARKET:-

The FTSE MIB climbed  down by 0.56%  to 24,141.46 In the cash markets, the DAX futures Germany was trading 0.12%  lower at 15,135.25. CAC 40 futures in France climbed down by 0.53% to 6,269.57, while the FTSE 100 futures in the U.K rose  by  0.12% to 6,969.97, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  0.54% down  at 33,874.38  the S&P 500 was down 0.72% to 4,181.29 and the Nasdaq 100 was down 0.85% at 13,962.03.

FOREX MARKET:-

In the Forex market, GBPUSD  fell 0.06% at 1.3805. The USDJPY was up 0.32% at 109.63. The USDCHF was up 0.05% at 0.9138. EURUSD was  down 0.01% at 1.2017, EUR/GBP was up 0.16% at 0.8703, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures rose 0.35% at $1,773.85. Elsewhere, Silver futures rose 0.54% to $26.012 per ounce, Platinum rose 0.16% at $1,205.05 per ounce, and Palladium was up 0.38% at $2,952.50.

Brent crude oil was down  0.64% to $66.32 barrel while U.S. West Texas Intermediate (CLc1) fell  0.66% at $63.16.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD is at $58,042 rose 2.00%, Ethereum at 3,093.41 up 6.12%, Litecoin at 276.670  up 1.87%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Technical Analysis

Daimler up 0.58% at 74.165, Apple Inc.  down 1.51% at $131.48, Amazon.com down 0.11% at $ 3,467.31, TESLA Inc up  4.79% at $709.44, SAP down 0.90% at 11.7040, Microsoft down 0.13% at $252.18 ,  Barclays down  7.00% at 175.50.

Economic news:

USA MARKET

Technical Analysis

U.S. Treasury Secretary Janet Yellen on Sunday tamped down concerns that President Joe Biden’s plans for infrastructure, jobs and families will cause inflation, saying the spending will be phased in over a decade.

“It’s spread out quite evenly over eight to 10 years,” Yellen, former Federal Reserve chair, said in an interview with NBC’s “Meet the Press.”

She said the Federal Reserve will monitor inflation carefully and has the tools to address it if necessary.

“I don’t believe that inflation will be an issue but if it becomes an issue, we have tools to address it. These are historic investments that we need to make our economy productive and fair.”

Biden’s pandemic stimulus and recovery plans total around $6 trillion and will be paid for in part by a series of tax increases on the wealthiest Americans, less than 1% of the population, and on raising corporate taxes.

Cecilia Rouse, chair of the White House National Economic Council, said there is no evidence that portends runaway inflation.

“So when we get to the other side of this pandemic, I fully expect that our labor market will come back and be flourishing,” Rouse said on “Fox News Sunday.”

“But for the time being, we expect at most transitory inflation, that is what we expect coming out of a big recession.”

Some Democratic lawmakers have expressed concerns that the tax increases would slow economic growth.

EUROZONE:-

Technical Analysis

One in four European funds have classified themselves as sustainable under new EU environmental, social and governance rules, Morningstar said on Friday, as managers try to appeal to investors pouring cash into sustainable assets.

Demand for ESG-compliant investment products is surging but confusion over what ESG claims mean in practice has spurred European policymakers to try and codify the sector to arm investors with more information and stamp out ‘greenwashing’, where lofty sustainability claims are not backed up by action.

The European Union’s Sustainable Finance Disclosure Regulation, the first part of which went live in March, aims to harmonise standards and increase transparency in the growing market for sustainable financial products.

Fund managers can classify their products as either Article 9, which means fully focused on sustainable objectives, or Article 8, which means fully or partly focused on environmental, social or sustainability issues. Investments classed as Article 6 means they are not focused on sustainability.

Data provider Morningstar said close to 24% of the ESG open-end funds and exchange-traded funds domiciled in Europe it had examined are now Article 8 or 9 based on preliminary data, representing combined assets of 2.16 trillion euros ($2.61 trillion).

Hortense Bioy, Morningstar’s Global Director of Sustainability Research, said the proportion of funds classifying themselves as sustainable less than two months after the rules went live was “surprising” given many managers are still analysing what the extra disclosure requirements entail.

She expects the number to grow in 2021.

“Some distributors say that they only want to distribute Article 8 or Article 9 funds. That is putting pressure on funds,” she told Reuters.

Just over half of all investment flows in Europe in the first three months of 2021 went into sustainable funds, swelling sustainable fund assets by 17.5% over the quarter to a record 1.3 trillion euros, Morningstar said.

It was only the second time sustainable funds have pulled in more cash in a quarter than conventional funds, the first time being early 2020, Morningstar said in its quarterly report.

TECHNICAL SUMMARY

EUR/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.2020, TAKE PROFIT AT 1.2060 AND STOP LOSS AT 1.2000.

USD/CAD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.3000, TAKE PROFIT AT 1.2260 AND STOP LOSS  AT 1.3020.

GBP/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.3810, TAKE PROFIT AT 1.3760 AND STOP LOSS  AT 1.385.

CAC 40:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 6270.50, TAKE PROFIT AT 6370.50 AND STOP LOSS  AT 6220.50.

GOLD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1770.30, TAKE PROFIT AT 1820.30 AND STOP LOSS AT 1745.30

ETHEREUM:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 3,100.50, TAKE PROFIT AT 3,300.50 AND STOP LOSS  3,000.50 .

 

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ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.81% to 3,446.86. Hong Kong’s Hang Seng Index was down about 0.45% to 28,418.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.83 per cent at 28,812.63 on  Wsdnesday, while the  Australian Index S&P / ASX 200 rose  0.39 per cent to 7,095.71. South Korea’s Kospi was up by 0.64% to 3,147.98.

EUROPEAN MARKET:-

The FTSE MIB climbed  down by 1.76%  to 23,991.46 In the cash markets, the DAX futures Germany was trading 2.39%  lower at 14,874.25. CAC 40 futures in France climbed down by 0.89% to 6,251.57, while the FTSE 100 futures in the U.K fell  by  0.59% to 6,928.97, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  0.06% up  at 34,133.38  the S&P 500 was down 0.69% to 4,163.29 and the Nasdaq 100 was down 1.88% at 13,633.03.

FOREX MARKET:-

In the Forex market, GBPUSD  rose 0.09% at 1.3897. The USDJPY was up 0.09% at 109.42. The USDCHF was up 0.10% at 0.9145. EURUSD was  down 0.06% at 1.2006, EUR/GBP was down 0.10% at 0.8641, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures fell 0.02% at $1,775.85. Elsewhere, Silver futures fell 0.41% to $26.448 per ounce, Platinum rose 0.18% at $1,232.05 per ounce, and Palladium was up 0.64% at $3,000.50.

Brent crude oil was up  2.84% to $69.48 barrel while U.S. West Texas Intermediate (CLc1) rose  0.81% at $66.23.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD is at $54,317 fell 3.10%, Ethereum at 3,245.41 down 3.17%, Litecoin at 326.791  up 13.69%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Technical Analysis

Astra Zeneca up 4.29% at 7,715 Apple Inc.  down 3.54% at $127.85, Amazon.com up 2.20% at $ 3,311.31, TESLA Inc down  1.65% at $673.90, SAP down 3.34% at 112.760, Microsoft down 0.13% at $252.18 ,  Barclays down  2.62% at 170.90.

Economic news:

USA MARKET

Technical Analysis

U.S. Trade Representative Katherine Tai said on Tuesday that making vaccines more widely available throughout the world is needed to end the coronavirus pandemic and foster economic recovery.

In remarks to a Council of the Americas conference, Tai said the world had made real strides toward ending the pandemic but that a lot of work lies ahead.

“That includes making the vaccine widely available and addressing the global inequity in vaccine access,” she said. “This is not just a public health requirement. Our economic recovery depends on it.”

Tai is due to discuss demands from developing countries for a World Trade Organization waiver of intellectual property rights on coronavirus vaccines during a WTO General Council meeting later this week.

She has been meeting with the chief executives of the major vaccine manufacturers in recent days to discuss the waiver proposal and ways to boost vaccine production and distribution..

A majority of Democrats in the U.S. House of Representatives, and many liberal Democratic senators have urged President Joe Biden’s administration to support the vaccine intellectual property waiver, arguing it would help save lives and prioritize people over drug company profits.

The pharmaceuticals industry sees the proposed waiver as too broad and would set a precedent that would erode incentives to develop future vaccines.

Democratic Representative Earl Blumenauer, head of the Ways and Means trade subcommittee, told reporters that Tai and other U.S. officials were trying to develop a path forward, and narrowing the scope of the proposed waiver could help reassure industry.

Representative Rosa DeLauro told reporters she spoke with Commerce Secretary Gina Raimondo earlier on Wednesday and saw “some positive signs” the Biden administration was committed to aiding other countries in the current humanitarian crisis.

“The scope of the requested waiver is overbroad and unjustified in light of the economic harm it would cause and the negligible benefits it would provide,” wrote the members, led by House Judiciary Committee senior Republican Darrell Issa.

EUROZONE:-

Technical Analysis

The German government is planning a new green financing strategy to steer capital towards environmental projects and developing Germany into a leading hub for sustainable finance, plans seen by Reuters show.

The so-called Sustainable Finance Strategy plan lists 26 individual measures and is due to be adopted by the cabinet on Wednesday with a view to mobilising investment for climate protection projects.

“The federal government wants to develop Germany into a leading location for sustainable finance,” states the plan, which is aligned with the United Nations’ Sustainable Development Goals.

The plan aims to support the European Union becoming carbon neutral by 2050 – a target the European Commission estimates will require 350 billion euros to be invested annually.

The plan also responds to investors demanding more companies complying with environmental, social and governance (ESG) criteria.

To assist investors, the German plan envisages a sustainability “traffic light” system that makes it easier to identify green investment opportunities.

Berlin wants to coordinate the traffic light plan with the EU if possible, but if it cannot move ahead quickly with the bloc it will start with Germany’s Federal Environment Agency.

The government also plans to increase guarantees and export credit assistance for green projects, and to reallocate 9 billion euros in equities it holds in pension and welfare funds into green investments.

With the Greens now topping most opinion polls, Chancellor Angela Merkel’s conservatives and their Social Democratic coalition partners are eager to tout their green credentials before September’s federal election.

The government envisages green bond issuance this year similar to 2020, when it launched its first two green bonds with a combined volume of 11.5 billion euros.

A 30-year green bond is planned for May, with a 10-year issue to follow in the second half of the year.

TECHNICAL SUMMARY

EUR/USD:-

EUR/USD Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.2020, TAKE PROFIT AT 1.2000 AND STOP LOSS AT 1.2030.

USD/CAD:-

USD/CAD Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.2290, TAKE PROFIT AT 1.2240 AND STOP LOSS  AT 1.3015.

GBP/USD:-

GBP/USD Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.3910, TAKE PROFIT AT 1.3960 AND STOP LOSS  AT 1.3885.

NASDAQ 100:-

NASDAQ 100 Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 13550.50, TAKE PROFIT AT 13450.50 AND STOP LOSS  AT 14000.50.

SILVER:-

SILVER Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 26.400, TAKE PROFIT AT 26.800 AND STOP LOSS AT 26.200

ETHEREUM:-

ETHEREUM Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3,340.50, TAKE PROFIT AT 3,540.50 AND STOP LOSS  3,240.50 .

 

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ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.48% to 3,424.86. Hong Kong’s Hang Seng Index was up about 0.23% to 28,658.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading up 0.10 per cent at 29,360.63 on  Friday, while the  Australian Index S&P / ASX 200 rose 0.20 per cent to 7,075.71. South Korea’s Kospi was up by 0.64% to 3,199.98.

EUROPEAN MARKET:-

The FTSE MIB climbed  up by 0.13%  to 24,495.46 In the cash markets, the DAX futures Germany was trading 0.17%  higher at 15,196.25. CAC 40 futures in France climbed up by 0.28% to 6,357.57, while the FTSE 100 futures in the U.K rose  by  0.52% to 7,076.97, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  0.93% up  at 34,548.38  the S&P 500 was up 0.82% to 4,201.56 and the Nasdaq 100 was up 0.37% at 13,632.03.

FOREX MARKET:-

In the Forex market, GBPUSD  rose 0.12% at 1.3902. The USDJPY was up 0.09% at 109.19. The USDCHF was up 0.11% at 0.9080. EURUSD was  down 0.06% at 1.2058, EUR/GBP was down 0.16% at 0.8673, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures rose 0.18% at $1,819.85. Elsewhere, Silver futures fell 0.21% to $27.418 per ounce, Platinum fell 0.32% at $1,253.05 per ounce, and Palladium was up 0.55% at $2,964.50.

Brent crude oil was up  0.51% to $68.47  barrel while U.S. West Texas Intermediate (CLc1) rose  0.51% at $65.06.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD fell 0.75% at $56,129.9 , Ethereum at 3,444.41 up by 1.60%, Litecoin at 365.791  up 11.36%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Technical Analysis

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

Economic news:

USA MARKET

Technical Analysis

U.S. President Joe Biden said a corporate tax rate between 25% and 28% could help pay for badly needed infrastructure, suggesting he could accept a lower rate than what he has proposed in his search for Republican support for the funding.

“The way I can pay for this, is making sure that the largest companies don’t pay zero, and reducing the (2017 corporate) tax cut to between 25 and 28” percent, Biden said during a visit to Lake Charles, Louisiana.

In his $2.3 trillion infrastructure plan, the Democratic president initially proposed raising the corporate tax rate from 21% to 28%. Tax experts and congressional aides told Reuters in April that a 25% rate would be a likely compromise.

“What I’m proposing is badly needed” and will be paid for, said Biden, dismissing the “trickle down” theory that helping businesses and the wealthy will benefit those farther down the economic ladder. “We’ve got to build from the bottom up and the middle out.”

Behind Biden as he spoke was the Calcasieu River Bridge, a structure built in 1952, which he said was 20 years past its expiration date. Bumper-to-bumper traffic crawled across it.

“That’s a recipe for disaster,” Biden said of the crowded bridge.

Later, he stopped in New Orleans to tour the Sewerage & Water Board’s Carrollton Water Plant and discuss the need for spending on water infrastructure.

The U.S. corporate tax rate dropped to 21% from 35% after the 2017 tax cut pushed by then-President Donald Trump and his fellow Republicans, but many big U.S. companies pay much less.

Biden’s visit to storm-battered Louisiana, which has backed Republican presidential candidates for the past 20 years, is part of his “Getting America Back on Track Tour” to promote a $2.25 trillion infrastructure spending plan and a $1.8 billion education and childcare proposal.

His push to spend more federal money on schools, roads, job training and other public works, and to tax the wealthiest Americans and companies to pay for it, is popular with voters of both parties. But the plans face stiff opposition from Republican lawmakers.

EUROZONE:-

Technical Analysis

The French government will take a decision in September on whether to top up its 100 billion euro ($120 billion) economic stimulus plan, French Finance Minister Bruno Le Maire said on Thursday.

President Emmanuel Macron eluded last week to a “second period of recovery” that would see investment accelerated, triggering speculation in the press and among economists that a second round of stimulus was in the pipeline.

His European Affairs Minister Clement Beaune, formerly a close advisor to Macron, has been even more explicit about calling for a second Europe-wide stimulus plan.

However, Le Maire has been more circumspect and had so far emphasised that the most important thing was to ensure that already budgeted stimulus projects get rolled out.

“Time for decisions will come in September. In September, we will see what sort of economic situation France and Europe are in and we will see whether some budgets need extra spending because the economic situation merits it,” Le Maire told a news conference.

France has already disbursed 30 billion euros from its recovery plan since it was launched last September with spending focused on a range of public investments in environmentally friendly projects and measures to boost French firms competitiveness.

Le Maire said that the money had helped France see stronger economic growth than most other euro zone economies in the first quarter when the French economy grew 0.4% despite various COVID restrictions.

He added that that gave him confidence that a growth target of 5% for this year could be met.

TECHNICAL SUMMARY

USD/CHF:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 0.9070, TAKE PROFIT AT 0.9010 AND STOP LOSS AT 0.9100.

USD/CAD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.2165, TAKE PROFIT AT 1.2205 AND STOP LOSS  AT 1.2145.

GBP/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.3900, TAKE PROFIT AT 1.3950 AND STOP LOSS  AT 1.3875.

DAX 30:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 15,255.50, TAKE PROFIT AT 15,455.50 AND STOP LOSS  AT 15,155.50.

SILVER:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 27.270, TAKE PROFIT AT 27.470 AND STOP LOSS AT 27.170

ETHEREUM:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3,460.50, TAKE PROFIT AT 3,660.50 AND STOP LOSS  3,360.50 .

 

 

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ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.27% to 3,418.86. Hong Kong’s Hang Seng Index was down about 2.26% to 27,944.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading down 3.00 per cent at 28,623.63 on Tuesday , while the  Australian Index S&P / ASX 200 fell 1.11 per cent to 7,093.71. South Korea’s Kospi was down by 1.41% to 3,204.98.

EUROPEAN MARKET:-

The FTSE MIB climbed  up by 0.78%  to 24,802.46 In the cash markets, the DAX futures Germany was trading 0.02%  higher at 15,400.25. CAC 40 futures in France climbed up by 0.01% to 6,385.57, while the FTSE 100 futures in the U.K was down  by  0.08% to 7,123.97, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  0.10% down  at 34,742.38  the S&P 500 was down 1.04% to 4,188.56 and the Nasdaq 100 was down 0.88% at 13,742.03.

FOREX MARKET:-

In the Forex market, GBPUSD  rose 0.06% at 1.4129. The USDJPY was up 0.09% at 108.88. The USDCHF was down 0.06% at 0.9006. EURUSD was  up 0.11% at 1.2142, EUR/GBP was up 0.10% at 0.8594, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures fell 0.06% at $1,836.85. Elsewhere, Silver futures fell 0.21% to $27.438 per ounce, Platinum fell 0.20% at $1,249.05 per ounce, and Palladium was down 0.19% at $2,956.50.

Brent crude oil was down  0.76% to $6.80  barrel while U.S. West Texas Intermediate (CLc1) fell  0.72% at $64.46.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD fell 6.80% at $55,389.9 , Ethereum at 3,904.41 down by 4.64%, Litecoin at 356.791  down 11.39%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock

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

Economic news:

USA MARKET

Technical Analysis

President Joe Biden on Monday urged U.S. companies to help workers gain access to vaccines and to raise their pay while touting an infusion of $350 billion in federal aid to state and local governments, saying that will help more parents obtain child care and return to work.

Biden’s remarks were designed to address ways employers can hire more workers and to help more people take jobs.

The Labor Department reported on Friday the economy added 266,000 jobs in April, short of the million jobs that most forecasters had expected. Republicans have blamed enhanced unemployment benefits for the numbers, saying the benefits discourage people from returning to work.

“My expectation is that, as our economy comes back, these companies will provide fair wages and safe work environments,” Biden told reporters at the White House. By doing so, he said, the companies will “find plenty of workers, and we’re all going to come out of this together better than before.”

Biden also defended himself against critics who have said expanded unemployment benefits offered in the COVID-19 relief bill passed in March are keeping Americans from taking new jobs.

He said the administration will remind U.S. states this week that any unemployed American offered a comparable job must take it or risk losing unemployment benefits.

Biden, a Democrat, said he will direct the U.S. Labor Department to work with states to reinstate requirements that those receiving unemployment benefits must demonstrate they are actively looking for work.

He said school closures, child care constraints and fears of contracting the coronavirus had hindered job creation last month.

EUROZONE:-

Technical Analysis

The European Union’s huge post-pandemic recovery fund could become a more permanent feature if it is successful in firing up growth and fostering a greener and more digital economy, the European Commission’s top economic officials said on Monday.

The 27 EU nations made an unprecedented agreement last year to jointly borrow 750 billion euros for a fund to help fight the economic slump caused by COVID-19 and address the challenges of climate change.

To overcome the opposition of the EU’s frugal northern states, which have long opposed joint borrowing for fear of financing less strict fiscal policy in the south, the scheme was clearly described as an extraordinary, one-off measure.

But many economists saw it as a foot in the door for more regular joint debt issuance by the AAA-rated EU in future and top Commission officials echoed that view before the European Parliament’s economic and monetary affairs committee.

“The more successful we are in the implementation of this facility the more scope there will be for discussions on having a permanent instrument, probably of a similar nature,” Commission Vice President Valdis Dombrovskis said.

The borrowing, to be done by the executive Commission in the name of all EU countries, is to be repaid over 30 years from new taxes called new own resources. These have yet to be yet to be agreed but could include levies on the digital economy, on CO2 emissions or on imports of goods made using dirty technologies.

“It will have permanent consequences on financial markets because we have this European-denominated debt to be repaid in the next 30 years,” European Economic Commissioner Paolo Gentiloni told the same committee.

“In the future — if this instrument works and we are able to agree on the new own resources to repay this common debt, I think we can have a serious discussion on further initiatives.

“But what is crucial for these further initiatives, is to make this one work and be repaid with new own resources,” Gentiloni said.

For the Commission to start borrowing the money on markets, all EU national parliaments must ratify a decision to increase national guarantees to repay it, in case the new taxes fail to materialise. Eight have yet to do so.

To get the EU cash, which will come partly as grants and partly through ultra-cheap loans, each government must submit a plan of how it intends to spend its share which must conform with EU-agreed rules. So far 14 countries have sent in plans and Dombrovskis said the rest could trickle in by early June.

The plans must include not just spending, but also reforms to make economies ready for the digital age and without CO2 emissions. Dombrovskis said that after initial problems with the plans, they in general showed a good balance.

The Commission has two months to assess each plan and EU finance ministers then have one month to endorse a Commission recommendation on it. Dombrovskis said everything was on track for first disbursements from the scheme to be made in July.

TECHNICAL SUMMARY

EUR/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.21320, TAKE PROFIT AT 1.21620 AND STOP LOSS AT 1.21170

USD/CAD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.20950, TAKE PROFIT AT 1.20850 AND STOP LOSS  AT 1.21000.

GBP/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.4110, TAKE PROFIT AT 1.4160 AND STOP LOSS  AT 1.4060

 NASDAQ 100:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 13,235.50, TAKE PROFIT AT 13,435.50 AND STOP LOSS  AT 13,135.50.

SILVER:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 27.260, TAKE PROFIT AT 27.460 AND STOP LOSS AT 27.160

ETHEREUM:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3,925.50, TAKE PROFIT AT 4,125.50 AND STOP LOSS  3,825.50 .

 

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ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.01% to 3,441.86. Hong Kong’s Hang Seng Index was up about 0.13% to 27,997.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.76 per cent at 28,397.63 on Wednesday , while the  Australian Index S&P / ASX 200 fell 0.58 percent to 7,055.71. South Korea’s Kospi was down by 1.29% to 3,168.98.

EUROPEAN MARKET:-

The FTSE MIB climbed  down by 1.64%  to 24,396.46 In the cash markets, the DAX futures Germany was trading 1.82%  lower at 15,119.25. CAC 40 futures in France climbed up by 0.01% to 6,385.57, while the FTSE 100 futures in the U.K was down  by  2.47% to 6,947.97, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  1.36% down  at 34,269.38  the S&P 500 was down 0.87% to 4,152.56 and the Nasdaq 100 was down 0.09% at 13,389.03.

FOREX MARKET:-

In the Forex market, GBPUSD  was down 0.18% at 1.4116. The USDJPY was up 0.23% at 108.86. The USDCHF was up 0.23% at 0.9058. EURUSD was  down 0.23% at 1.2118, EUR/GBP was up 0.02% at 0.8589, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures fell 0.45% at $1,827.85. Elsewhere, Silver futures fell 0.77% to $27.453 per ounce, Platinum fell 0.88% at $1,229.05 per ounce, and Palladium was up 0.27% at $2,946.50.

Brent crude oil was down  0.44% to $68.25  barrel while U.S. West Texas Intermediate (CLc1) fell  0.37% at $65.0 6.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD rose 4.87% at $57,857.9 , Ethereum at 4,334.41 up by 12.42%, Litecoin at 391.582  up 11.18%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock

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

Economic news:

USA MARKET

Technical Analysis

The U.S. Senate voted on Tuesday to repeal a regulation introduced during former President Donald Trump’s administration that Democrats say allows predatory lenders to skirt state consumer protections.

Lawmakers voted 52-47 to repeal the “true lender” rule, marking the first time Democrats have rolled back a Trump-era financial rule using the Congressional Review Act, a 1996 law that gives Congress the ability to rescind recently enacted regulations.

The White House said in a statement it supported the resolution repealing the rule, which now heads to the Democratic-led House, where it is also expected to pass.

The targeted rule, written last year by the Office of the Comptroller of the Currency, attempted to clarify whether state or federal laws applied when lenders like fintechs partnered with traditional banks.

But Democrats and consumer advocates warned it would allow predatory lenders to skirt state usury laws and interest rate caps by partnering with national banks that enjoy more lax federal rules.

The OCC said when it drafted the rule that it was aiming to provide legal certainty to lenders as to whether state or federal laws applied to their business.

The regulator determined that if the bank is named as the lender in the loan agreement, then the relevant bank rules apply, meaning any partnerships with national banks would operate under federal rules, which generally are more relaxed on lending restrictions.

EUROZONE:-

Technical Analysis

The European Commission expects to finish work soon on a COVID-19 certificate that could allow citizens to travel more easily this summer in the 27-nation bloc, the EU executive said on Tuesday after a meeting with European affairs ministers.

The pass would allow those vaccinated, recovered from COVID-19 or with negative test results to cross borders in a union where restrictions on movement have weighed heavily on the travel and tourism industry for more than a year.

“This is a priority for our citizens and therefore I believe we will deliver (on the certificate) before summer,” Commission Vice-President Maros Sefcovic said after the meeting in Brussels. He said he expected a full roll-out by the summer.

A two week pilot project to test the technology a few countries at a time began on Monday, the EU Commission said.

But EU governments, the European Parliament and the Commission must agree on the design of the certificate. They must also decide whether faster, but less accurate, COVID-19 antigen tests can be included.

Sefcovic called on all sides to work together to complete the legislative, as well as the technical, work as quickly as possible, noting the complexity of the job.

“For the certificate to work, it has to be on smartphones, it has to be interoperable, possible to check it. So it is quite the task to do it at the pan-European level”, Sefcovic said.

The European Parliament says no one will be obliged to use the EU certificate and it must not be considered a vaccine passport.

Sefcovic said the Commission was working closely to inform the United States, the World Health Organization and others about its progress to allow the certificate to be used on a wider scale.

As the vaccination campaign in the EU is gaining speed with 200 million jabs delivered and COVID-19 infections rates falling, Europe is starting to reopen cities and beaches, raising hopes for the summer holiday season.

German Europe Minister Michael Roth called for a swift agreement.

“This is not only important for countries depending on tourism but for all of us: It is … a clear signal for freedom of movement and for mobility in the European Union,” Roth said in Brussels.

TECHNICAL SUMMARY

EUR/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.21240, TAKE PROFIT AT 1.21440 AND STOP LOSS AT 1.21140

USD/CAD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.21130, TAKE PROFIT AT 1.21030 AND STOP LOSS  AT 1.21180.

GBP/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.4110, TAKE PROFIT AT 1.4160 AND STOP LOSS  AT 1.4060

 CAC 40:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 6,250.50, TAKE PROFIT AT 6,350.50 AND STOP LOSS  AT 6,200.50.

SILVER:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 27.360, TAKE PROFIT AT 27.560 AND STOP LOSS AT 27.260

ETHEREUM:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 4,320.50, TAKE PROFIT AT 4,520.50 AND STOP LOSS  4,220.50 .

 

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ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.74% to 3,437.86. Hong Kong’s Hang Seng Index was down about 0.80% to 27,961.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading down 1.55 per cent at 27,705.63 on Thursday , while the  Australian Index S&P / ASX 200 fell 0.54 percent to 7,006.71. South Korea’s Kospi was down by 1.29% to 3,141.98.

EUROPEAN MARKET:-

The FTSE MIB climbed  up by 0.23%  to 24,452.46. In the cash markets, the DAX futures Germany was trading 0.20%  higher at 15,150.25. CAC 40 futures in France climbed up by 0.19% to 6,279.57, while the FTSE 100 futures in the U.K was up  by  0.82% to 7,004.63 at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  1.99% down  at 33,587.38  the S&P 500 was down 2.15% to 4,062.56 and the Nasdaq 100 was down 2.67% at 13,031.03.

FOREX MARKET:-

In the Forex market, GBPUSD  was down 0.06% at 1.4062. The USDJPY was up 0.04% at 109.70. The USDCHF was down 0.05% at 0.9086. EURUSD was  up 0.04% at 1.2073, EUR/GBP was down 0.02% at 0.8587, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures fell 0.30% at $1,817.85. Elsewhere, Silver futures fell 0.46% to $27.120 per ounce, Platinum fell 0.43% at $1,220.05 per ounce, and Palladium was up 0.89% at $2,875.50.

Brent crude oil was down  0.94% to $68.67  barrel while U.S. West Texas Intermediate (CLc1) fell  0.98% at $65.43.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD fell 12.39% at $50,601.9 , Ethereum at 3,916.41 down by 8.42%, Litecoin at 323.582  down 16.18%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top Stock To buy

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

Economic news:

USA MARKET

Technical Analysis

The Federal Reserve is exploring the technology that would be required to establish a central bank digital currency, but more research needs to be done before it would move forward with a currency, Boston Fed Bank President Eric Rosengren said on Wednesday.

“It is important to highlight that this is exploratory work, and any decision to move forward with such a currency would depend on a variety of factors beyond the technological feasibility and implementation,” Rosengren said in remarks prepared for a virtual event organized by Harvard Law School.

A central bank digital currency could improve financial inclusion, reduce the cost of cross-border financial transactions and provide more flexibility for implementing monetary policy, he said.

But Fed officials would need to fully consider the policy implications and trade-offs that come with using a digital currency, including possible threats to financial stability, Rosengren said.

The Boston Fed is doing research on the technology that could be used to create a hypothetical digital currency through a joint project with MIT’s Digital Currency Initiative.

They plan to release a white paper and open source code early in the third quarter of this year, and later phases of the research project will focus on privacy, anti-money laundering and other issues.

“It is important to understand what problems a central bank digital currency is being designed to solve, and whether other technologies could more cheaply or efficiently address those problems,” Rosengren said.

EUROZONE:-

Technical Analysis

European banks’ first-quarter earnings have surpassed all expectations in a turnaround from the COVID-19 doldrums of a year ago, yet after a decade of travails more than one season may be needed to win over sceptics.

European bank shares are up 25% already this year, more than double the gains of the underlying STOXX 600 index. Since November, when President Joe Biden won U.S. elections with pledges for big-time spending, the sector has rallied some 66%.

Vaccine rollouts, massive government spending and hopes of a resumption of post-pandemic normality have made investors eager to buy into the recovery; many are rotating portfolios to so-called cyclical stocks, which benefit when the economy looks up.

European banks have become a proxy of choice though some caution the trading frenzy which boosted investment banking revenues may fade over coming months and that non-performing loans could rise once governments cut back on emergency support.

All of Europe’s top 10 lenders by market capitalisation beat forecasts for the January-March period thanks to buoyant revenues from securities trading, lower provisions against bad loans and rising bond yields.

The majority of other big players such as Deutsche Bank , Societe Generale and Unicredit  passed the season with flying colours too.

Refinitiv data shows a rough 200% profit jump off the troughs of a year ago after the markets crashed last March as the COVID-19 pandemic hit Europe.

“We have effectively got 95% of all banks beating expectations, and not only that, beating them by an average of 24%,” said Magdalena Stoklosa, head of European banks research at Morgan Stanley .

While European bank shares already are on course for their best performance since 2009, Stoklosa sees potential for another 10% gains from current levels.

Jerome Legras, head of research at Axiom Alternative Investments, which invests in bank equity and debt, said earnings could improve further if banks trim provisions to cover for any pandemic-related losses.

TECHNICAL SUMMARY

EUR/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.20810, TAKE PROFIT AT 1.21010 AND STOP LOSS AT 1.20710

USD/CAD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.21320, TAKE PROFIT AT 1.21020 AND STOP LOSS  AT 1.21480.

GBP/USD:-

Technical Analysis
Technical Analysis

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

 NASDAQ 100:-

Technical Analysis
Technical Analysis

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

Gold:-

Technical Analysis
Technical Analysis

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

ETHEREUM:-

Technical Analysis
Technical Analysis

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

 

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ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was up by 1.42% to 3,477.86. Hong Kong’s Hang Seng Index was up about 0.96% to 27,983.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading up 2.16 per cent at 28,035.63 on Friday while the  Australian Index S&P / ASX 200 rose 0.95 percent to 7,048.71. South Korea’s Kospi was up by 0.97% to 3,152.98.

EUROPEAN MARKET:-

The FTSE MIB climbed  up by 0.14%  to 24,486.46. In the cash markets, the DAX futures Germany was trading 0.33%  higher at 15,199.25. CAC 40 futures in France climbed up by 0.14% to 6,288.57, while the FTSE 100 futures in the U.K was down by  0.59% to 6,963.63 at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  1.29% up  at 34,021.38  the S&P 500 was up 1.22% to 4,112.56 and the Nasdaq 100 was up 0.72% at 13,124.03.

FOREX MARKET:-

In the Forex market, GBPUSD  was down 0.05% at 1.4043. The USDJPY was up 0.12% at 109.70. The USDCHF was down 0.05% at 0.9086. EURUSD was  down 0.08% at 1.2087, EUR/GBP was up 0.13% at 0.8605, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures fell 0.07% at $1,822.85. Elsewhere, Silver futures fell 0.01% to $27.058 per ounce, Platinum rose 0.71% at $1,219.05 per ounce, and Palladium was up 0.77% at $2,886.50.

Brent crude oil was down  0.40% to $66.78  barrel while U.S. West Texas Intermediate (CLc1) fell  0.31% at $63.62.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD fell 2.56% at $49,235.9 , Ethereum at 3,803.41 down by 2.59%, Litecoin at 313.582  down 2.58%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock

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

Economic news:

USA MARKET

Technical Analysis

Democratic Senator Martin Heinrich on Thursday introduced a bill that would help states that rely on oil and gas revenue weather the U.S. transition away from fossil fuels by offering federal support to help fill gaps in state and school budgets hit by a decline in oil and gas production.

The Schools and State Budgets Certainty Act would provide “energy transition payments” to states that rely on revenue from federal mineral leasing as a result of changes in U.S. policy to give them time to invest in new industries, the New Mexico senator said.

President Joe Biden signed an executive order in January pausing new oil and gas leasing on federal lands and waters that account for around 25% of the nation’s petroleum production pending a review of its impacts, a move that has been seen as a first step to the permanent ban he promised during his campaign.

“The global energy landscape is undergoing a massive transformation, and states like New Mexico need to be ready,” said Heinrich, adding that the bill offers these states a “glidepath” to move away from their reliance on extractive industries.

His bill would set a baseline mineral revenue amount for each fiscal year based on a historical average of federal mineral revenue that would decline by 5% each year. The federal government would then pay a state or county the difference between the actual mineral payment and the baseline.

EUROZONE:-

Technical Analysis

Europe is not facing the kind of inflation concerns seen in the United States and the current mix of monetary and fiscal policy is appropriate, European Central Bank Governing Council member Yannis Stournaras said on Thursday.

“I think both fiscal and monetary policy are the right mix,” Stournaras told the Delphi Economic Forum in Athens.

He said that despite signs that financial markets were predicting inflation, in Europe models showed that “we have not yet to worry about inflation or not to worry as perhaps in the United States.”

TECHNICAL SUMMARY

USD\JPY:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 109.480, TAKE PROFIT AT 109.680 AND STOP LOSS  AT 109.380

EUR/USD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.20880, TAKE PROFIT AT 1.20980 AND STOP LOSS AT 1.20780

USD/CAD:-

Technical Analysis
Technical Analysis

TRADE SUGGESTION- Sell AT 1.21720, TAKE PROFIT AT 1.21520 AND STOP LOSS  AT 1.21820.

 S&P  500:-

S&P 500 Technical Analysis
S&P 500 Technical Analysis

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

Gold:-

Gold Technical Analysis
Gold Technical Analysis

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

ETHEREUM:-

Technical Analysis
Technical Analysis

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

 

 

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