TECHNICAL ANALYSIS REPORT – 29 APRIL 2021 ASIAN MARKET:- Mainland Chinese stocks were up by the early morning. The Shanghai Composite was up by 0.32% to 3,468.16. Hong Kong’s Hang Seng Index was up about 0.84% to 29,257.75. Japan’s benchmark Nikkei average. Nikkei 225 is trading up 0.21 per cent at 29,053.06 on Thursday, while the Australian Index S&P / ASX 200 rose 0.27 per cent to 7,084.71. South Korea’s Kospi was down by 0.03% to 3,179.91. EUROPEAN MARKET:- The FTSE MIB climbed down by 0.06% to 24,459.46 In the cash markets, the DAX futures Germany was trading 0.28% higher at 15,292.25. CAC 40 futures in France climbed up by 0.53% to 6,306.76, while the FTSE 100 futures in the U.K rose by 0.27% to 6,963.97, at the time of writing. US MARKET:- In the U.S. on Wall Street, the Dow Jones Industrial Average closed 0.48% down at 33,820.38 the S&P 500 was down 0.08% to 4,183.29 and the Nasdaq 100 was down 0.28% at 14,051.03. FOREX MARKET:- In the Forex market, GBPUSD rose 0.19% at 1.3958. The USDJPY was up 0.08% at 108.67. The USDCHF was up 0.04% at 0.9098. EURUSD was up 0.09% at 1.2133, EUR/GBP was down 0.07% at 0.8691, at the time of writing. COMMODITY MARKET;- In the commodity market, U.S. Gold futures rose 0.51% at $1,782.85. Elsewhere, Silver futures rose 1.46% to $26.465 per ounce, Platinum rose 0.35% at $1,226.05 per ounce, and Palladium was up 0.65% at $2,949.50. Brent crude oil was up 0.48% to $67.11 barrel while U.S. West Texas Intermediate (CLc1) rose 0.50% at $64.18. CRYPTO-CURRENCY MARKET:- In the Cryptocurrency Markets, BTCUSD is at $54,287 fell 0.54%, Ethereum at 2,727.41 up 4.32%, Litecoin at 257.670 up 1.59%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: Deutsche Bank up 10.86% at 11.280, Apple Inc. down 0.60% at $133.58, Amazon.com up 1.20% at $ 3,458.43, TESLA Inc down 1.47% at $694.40, SAP up 0.45% at 118.790, Microsoft down 2.83% at $254.97 , Barclays up 1.32% at 188.96. Economic news: USA MARKET U.S. President Joe Biden plans to unveil a sweeping $1.8 trillion package for families and education in his first joint speech to Congress on Wednesday, as he stresses the need to invest to compete with China, the White House said. Biden will speak at 9 p.m. EDT inside the U.S. Capitol at an event scaled back this year due to the pandemic. He will use the speech to outline his priorities for the rest of his first year in office. Biden will argue that the new package – which together with an earlier infrastructure and jobs plan totals around $4 trillion, rivaling the annual federal budget – is a once-in-a-generation investment vital to America’s future. The U.S. president will also plead directly with lawmakers to pass legislation to curb police violence, senior administration officials say, speaking on condition of anonymity. Biden will highlight repeated police killings of African-American citizens and years of entrenched racism, while also honoring the service of the vast majority of officers. The plan includes $1 trillion in spending on education and childcare over 10 years and $800 billion in tax credits aimed at middle- and low-income families, according to a White House fact sheet. The spending plans “reinvest in the future of the American economy and American workers, and will help us out-compete China and other countries around the world,” it said. Biden faces opposition to his agenda from Republicans who say he is spending too much and liberals who want him to take more aggressive steps. Biden addressed Republican opposition in a session with TV news anchors at the White House hours before the speech. “Everybody talks about, can I do anything bipartisan? Well, I got to figure out if there’s a party to deal with. We need a Republican Party…We need another party, whatever you call it, that’s unified — not completely splintered and fearful of one another,” he said, according to a tweet from CNN anchor Jake Tapper. Republican lawmakers have already rejected the $2 trillion-plus infrastructure plan as too large. The Democratic president is gambling that his spending plans, which are largely popular with American voters, can sway Republicans in Congress to cooperate with the White House. To pay for the plans, Biden has proposed an overhaul of the U.S. tax system. Wednesday’s “American Families Plan” is funded by raising the top marginal tax rate for the wealthiest Americans to 39.6% from its current 37%. It nearly doubles the tax on investment income – known as capital gains – for Americans who earn more than $1 million. The proposed infrastructure plan is funded by corporate tax. News of the capital gains tax proposal briefly sank stock markets last week. The Biden administration says the tax reform plan is designed to reward work, not wealth, and “reform the tax code so that the wealthy have to play by the same rules as everyone else.” Biden will use his speech to signal openness to bipartisan compromise on policing, speaking positively about negotiations on a reform bill in Congress. Senator Tim Scott, the only Black Republican in the upper chamber, is set to give his party’s rebuttal to Biden’s speech, with police reform expected to be among the topics. In addition to police reform, Biden will discuss foreign affairs, how his administration has handled the coronavirus pandemic and the status of vaccinations. One senior congressional aide said Biden is expected to “come out hard on China,” noting frequent calls to take a harder line against Beijing from both Republicans and Democrats. In his decades in elected office, Biden attended dozens of his predecessors’ joint addresses to Congress. The scene he faces when he takes the podium at the House of Representatives during a pandemic will look very different. Just 200 people, mostly lawmakers plus a handful of representatives of other branches of government and family members, will attend the masked, socially distanced speech. That is a far cry from the 1,600 officials, friends and guests who typically gather for such a presidential speech. The nationally televised address, however, targets an audience far beyond the reduced-sized crowd on Capitol Hill. About 48 million people watched Biden predecessor Donald Trump’s first address to a joint session in 2017. Republican Senator Mitch McConnell, the Senate minority leader, said ahead of the speech that Biden has not followed through on his promises of seeking unity and has tried to placate liberals instead. “Over a few short months, the Biden administration seems to have given up on selling actual unity in favor of catnip for their liberal base, covered with a hefty coat of false advertising,” McConnell said. EUROZONE:- The European Parliament has overwhelmingly backed the post-Brexit trade deal between Britain and the European Union, clearing the last hurdle towards its ratification, while expressing clear mistrust of the British government. EU lawmakers cleared the trade and cooperation agreement (TCA) by 660 votes to five, with 32 abstentions, the parliament announced on Wednesday, a day after the vote. Parliament’s consent brings to an end over four years of acrimonious negotiations and debate as Britain ended 47 years of EU membership, but mistrust lingers. European Commission president Ursula von der Leyen said she warmly welcomed the vote. “The TCA marks the foundation of a strong and close partnership with the UK. Faithful implementation is essential,” she said in a tweet. British Prime Minister Boris Johnson said this week was the final step in a long journey, providing stability to Britain’s new relationship with the EU. “Now is the time to look forward to the future and to building a more global Britain,” he said in a statement. ‘HISTORIC MISTAKE’ The lawmakers also voted massively in favour of an accompanying resolution in which they describe Brexit as a “historic mistake”. The text talked of the trade deal’s limited scope, with opportunities for Britain’s largely service-based economy “vastly reduced”. Lawmakers condemned Britain’s unilateral change in trading arrangements in Northern Ireland and urged the Commission to press on with its legal action. They also warned the European Union to be vigilant about British action on taxation, money-laundering and access for EU fishing boats to its waters. Britain left the EU at the end of January 2020, but remained in the EU single market until the start of 2021. The deal struck in December ensures zero tariffs and quotas, but adds new checks and paperwork that hinder trade. British exports to the EU fell by 47% in January-February and imports by 20%, far more than the declines for any other EU trading partner. EU lawmakers see the trade deal, including potential sanctions such as closing market access, as a tool to keep Britain in check. TECHNICAL SUMMARY EUR/USD:- TRADE SUGGESTION- BUY AT 1.2120, TAKE PROFIT AT 1.2160 AND STOP LOSS AT 1.2100. USD/CAD:- TRADE SUGGESTION- Sell AT 1.2310, TAKE PROFIT AT 1.2270 AND STOP LOSS AT 1.2330. GBP/USD:- TRADE SUGGESTION- BUY AT 1.3960, TAKE PROFIT AT 1.4010 AND STOP LOSS AT 1.3935. DAX 30:- TRADE SUGGESTION- BUY AT 15,300.50, TAKE PROFIT AT 15,400.50 AND STOP LOSS AT 15,250.50. SILVER:- TRADE SUGGESTION- Buy AT 26.370, TAKE PROFIT AT 26.570 AND STOP LOSS AT 26.170. BITCOIN:- TRADE SUGGESTION- SELL AT 54,360.50, TAKE PROFIT AT 53,360.50 AND STOP LOSS 54,860.50 .
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 5thMay 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 EUR/USD is trading in a upward channel, the Up side can be seen in the coming days. USD/JPY USD/JPY is trading in a Downward channel, the Down side can be seen in the coming days GBP/USD 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 Nasdaq 100 is trading in a upward channel, the Up side can be seen in the coming days. CAC 40 CAC 40 is trading in a upward channel, the Up side can be seen in the coming days. FTSE 100 FTSE 100 is trading in a upward channel, the Up side can be seen in the coming days. TOP COMMODITIES TO WATCH OUT GOLD Gold is trading in a upward channel, the Up side can be seen in the coming days. Brent Oil 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 Bitcoin is trading in a upward channel, the Up side can be seen in the coming days. ETHEREUM Ethereum is trading in a upward channel, the Up side can be seen in the coming days. DATA WATCH
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: 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 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:- 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:- TRADE SUGGESTION- BUY AT 1.2020, TAKE PROFIT AT 1.2060 AND STOP LOSS AT 1.2000. USD/CAD:- TRADE SUGGESTION- Sell AT 1.3000, TAKE PROFIT AT 1.2260 AND STOP LOSS AT 1.3020. GBP/USD:- TRADE SUGGESTION- Sell AT 1.3810, TAKE PROFIT AT 1.3760 AND STOP LOSS AT 1.385. CAC 40:- TRADE SUGGESTION- BUY AT 6270.50, TAKE PROFIT AT 6370.50 AND STOP LOSS AT 6220.50. GOLD:- TRADE SUGGESTION- BUY AT 1770.30, TAKE PROFIT AT 1820.30 AND STOP LOSS AT 1745.30 ETHEREUM:- TRADE SUGGESTION- SELL AT 3,100.50, TAKE PROFIT AT 3,300.50 AND STOP LOSS 3,000.50 .
TECHNICAL ANALYSIS REPORT – 04 MAY 2021 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 up about 0.70% to 28,474.75. Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.83 per cent at 28,812.63 on Tuesday, while the Australian Index S&P / ASX 200 rose 0.52 per cent to 7,065.71. South Korea’s Kospi was up by 0.40% to 3,138.98. EUROPEAN MARKET:- The FTSE MIB climbed up by 1.15% to 24,419.46 In the cash markets, the DAX futures Germany was trading 0.66% higher at 15,236.25. CAC 40 futures in France climbed up by 0.61% to 6,307.57, 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 0.70% up at 34,113.38 the S&P 500 was up 0.27% to 4,192.29 and the Nasdaq 100 was down 0.48% at 13,895.03. FOREX MARKET:- In the Forex market, GBPUSD fell 0.23% at 1.3878. The USDJPY was up 0.25% at 109.33. The USDCHF was up 0.40% at 0.9144. EURUSD was down 0.19% at 1.2037, EUR/GBP was up 0.06% at 0.8674, at the time of writing. COMMODITY MARKET;- In the commodity market, U.S. Gold futures fell 0.32% at $1,786.85. Elsewhere, Silver futures fell 0.26% to $26.887 per ounce, Platinum rose 0.19% at $1,237.05 per ounce, and Palladium was down 0.07% at $2,975.50. Brent crude oil was down 0.04% to $67.53 barrel while U.S. West Texas Intermediate (CLc1) fell 0.03% at $64.47. CRYPTO-CURRENCY MARKET:- In the Cryptocurrency Markets, BTCUSD is at $56,142 fell 3.15%, Ethereum at 3,388.41 up 9.22%, Litecoin at 283.670 up 3.69%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: Daimler up 0.32% at 74.400, Apple Inc. up 0.82% at $132.54, Amazon.com down 2.33% at $ 3,386.31, TESLA Inc down 3.46% at $684.90, SAP down 0.32% at 116.660, Microsoft down 0.13% at $252.18 , Barclays down 7.00% at 175.50. Economic news: USA MARKET U.S. construction spending rebounded far less than expected in March as strength in housing was offset by continued weakness in outlays on nonresidential structures and public projects. The Commerce Department said on Monday that construction spending gained 0.2% after falling 0.6% in February. Economists polled by Reuters had forecast construction spending surging 1.9%. Construction spending, which accounts for about 4% of gross domestic product, increased 5.3% on a year-on-year basis in March. The government reported last week that the economy grew at a 6.4% annualized rate last quarter. That was the second-fastest GDP growth pace since the third quarter of 2003 and followed a 4.3% rate in the fourth quarter. Tepid construction spending likely has no impact on economists’ expectations for double-digit GDP growth in the second quarter, fueled by massive fiscal stimulus and improving public health as more Americans get vaccinated against COVID-19. Spending on private construction projects rose 0.7% in March, lifted by investment in single-family homebuilding. There is strong demand for housing but supply has lagged amid expensive building materials as well as land and labor shortages. That followed a 0.3% drop in February. Spending on residential projects surged 1.7% in March after edging up 0.1% in February. But outlays on private nonresidential construction like gas and oil well drilling fell 0.9% in March. Business investment in nonresidential structures fell in the first quarter for the sixth straight quarter as a rebound in mining exploration, shafts and wells was offset by a drop in commercial and healthcare buildings. Spending on public construction projects dropped 1.5% in March after declining 1.6% in February. State and local government outlays decreased 1.4%, while federal government spending declined 2.1%. EUROZONE:- The European Central Bank can start to phase out emergency stimulus measures when the pace of coronavirus vaccinations reaches a critical level and the economy picks up speed, Luis de Guindos, the bank’s vice president, told an Italian newspaper. The ECB will next meet on June 10 and conservative policymakers are already calling for a cut in bond purchases, while others, particularly from the bloc’s south, are arguing for continued patience in clawing back support. “If by speeding up the vaccination campaign, we manage to have vaccinated 70% of Europe’s adult population by the summer and the economy starts to pick up speed, we may also start to think about phasing out the emergency mode on the monetary policy side,” de Guindos told la Repubblica. “The normalisation of monetary policy should go hand in hand with the normalisation of the economy,” he said in the newspaper interview. Less than 30% of the bloc’s population have received their first COVID-19 jabs so far. Experts say that getting 70% of people fully vaccinated is unlikely before the end of July, with the end of August seen as a more realistic deadline. But de Guindos also cautioned against keeping central bank stimulus lingering too long, warning the side effects could be as damaging as removing support too early. “Prolonging emergency measures for too long may run the risk of moral hazard as well as the zombification of parts of the European economy,” he said. Much of Europe’s services sector is now kept afloat by government subsidies and de Guindos called on governments to remove that support only gradually, even if it places a burden on budgets and pushes debt levels even higher. “It will be crucial that these measures are withdrawn gradually and with a great deal of prudence after the crisis. Otherwise we run the risk of choking the recovery,” he said. TECHNICAL SUMMARY EUR/USD:- TRADE SUGGESTION- BUY AT 1.2035, TAKE PROFIT AT 1.2075 AND STOP LOSS AT 1.2015. USD/CAD:- TRADE SUGGESTION- Sell AT 1.2290, TAKE PROFIT AT 1.2240 AND STOP LOSS AT 1.3015. GBP/USD:- TRADE SUGGESTION- BUY AT 1.3880, TAKE PROFIT AT 1.3960 AND STOP LOSS AT 1.3840. DAX 30:- TRADE SUGGESTION- BUY AT 15235.50, TAKE PROFIT AT 15335.50 AND STOP LOSS AT 15185.50. GOLD:- TRADE SUGGESTION- BUY AT 1790.30, TAKE PROFIT AT 1840.30 AND STOP LOSS AT 1765.30 ETHEREUM:- TRADE SUGGESTION- BUY AT 3,380.50, TAKE PROFIT AT 3,580.50 AND STOP LOSS 3,280.50 .
TECHNICAL ANALYSIS REPORT TODAY – 04 MAY 2021 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: 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 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:- 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:- TRADE SUGGESTION- Sell AT 1.2020, TAKE PROFIT AT 1.2000 AND STOP LOSS AT 1.2030. USD/CAD:- TRADE SUGGESTION- Sell AT 1.2290, TAKE PROFIT AT 1.2240 AND STOP LOSS AT 1.3015. GBP/USD:- TRADE SUGGESTION- BUY AT 1.3910, TAKE PROFIT AT 1.3960 AND STOP LOSS AT 1.3885. NASDAQ 100:- TRADE SUGGESTION- BUY AT 13550.50, TAKE PROFIT AT 13450.50 AND STOP LOSS AT 14000.50. SILVER:- TRADE SUGGESTION- BUY AT 26.400, TAKE PROFIT AT 26.800 AND STOP LOSS AT 26.200 ETHEREUM:- TRADE SUGGESTION- BUY AT 3,340.50, TAKE PROFIT AT 3,540.50 AND STOP LOSS 3,240.50 .
TECHNICAL ANALYSIS REPORT TODAY – 06 MAY 2021 ASIAN MARKET:- Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.16% to 3,441.86. Hong Kong’s Hang Seng Index was up about 0.20% to 28,493.75. Japan’s benchmark Nikkei average. Nikkei 225 is trading up 1.67 per cent at 29,290.63 on Thursday, while the Australian Index S&P / ASX 200 fell 0.65 per cent to 7,049.71. South Korea’s Kospi was up by 0.61% to 3,167.98. EUROPEAN MARKET:- The FTSE MIB climbed up by 2.03% to 24,463.46 In the cash markets, the DAX futures Germany was trading 2.12% lower at 14,874.25. CAC 40 futures in France climbed down by 1.40% to 6,339.57, while the FTSE 100 futures in the U.K rose by 1.68% to 7,039.97, at the time of writing. US MARKET:- In the U.S. on Wall Street, the Dow Jones Industrial Average closed 0.29% up at 34,230.38 the S&P 500 was up 0.07 to 4,167.29 and the Nasdaq 100 was down 0.37% at 13,582.03. FOREX MARKET:- In the Forex market, GBPUSD rose 0.04% at 1.3908. The USDJPY was up 0.14% at 109.33. The USDCHF was up 0.10% at 0.9137. EURUSD was up 0.02% at 1.2006, EUR/GBP was up 0.02% at 0.8634, at the time of writing. COMMODITY MARKET;- In the commodity market, U.S. Gold futures rose 0.33% at $1,790.85. Elsewhere, Silver futures rose 0.57% to $26.672 per ounce, Platinum fell 0.10% at $1,228.05 per ounce, and Palladium was up 0.30% at $2,981.50. Brent crude oil was up 0.38% to $69.22 barrel while U.S. West Texas Intermediate (CLc1) rose 0.24% at $69.21. CRYPTO-CURRENCY MARKET:- In the Cryptocurrency Markets, BTCUSD rose 4.68% at $57,235.9 , Ethereum at 3,458.41 up by 5.45%, Litecoin at 336.791 up 1.13%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: Unilever up 0.42 at 4,221.5 Apple Inc. up 0.20% at $128.10 , Amazon.com down 1.25 % at $ 3,270.31, TESLA Inc down 0.39% at $670.90, SAP down 0.81% at 115.720, Microsoft down 0.53% at $246.18 , Daimler down 0.30% at 72.195. Economic news: USA MARKET The White House has signaled privately to lawmakers and stakeholders in recent weeks that it supports taxpayer subsidies to keep nuclear facilities from closing and making it harder to meet U.S. climate goals, three sources familiar with the discussions told Reuters. New subsidies, in the form of “production tax credits,” would likely be swept into President Joe Biden’s multi-trillion-dollar legislative effort to invest in infrastructure and jobs, the sources said. Wind and solar power producers already get these tax rebates based on levels of energy they generate. Biden wants the U.S. power industry to be emissions free by 2035. He is asking Congress to extend or create tax credits aimed at wind, solar and battery manufacturing as part of his $2.3 trillion American Jobs Plan. The United States leads the world with more than 90 nuclear reactors, the country’s top source of emissions-free power generation. Yet aging plants have been closing due to rising security costs and competition from plentiful natural gas, wind and solar power, which are becoming less pricey. “There’s a deepening understanding within the administration that it needs nuclear to meet its zero-emission goals,” said a source engaged in the talks and familiar with the White House thinking. The White House had no comment. New York state’s Indian Point nuclear power plant, owned by Entergy Corp , closed its last reactor on April 30. In Illinois, Exelon Corp has said it might close four reactors at two plants by November, if the state does not implement subsidies.Nuclear plants provide thousands of union jobs that pay some of the highest salaries in the energy business. Biden’s allies in building trades unions have lobbied for the production tax credits. The credits also have the support of Democratic Senator Joe Manchin from the energy-rich state of West Virginia, two of the sources said. He holds outsized power in the evenly divided Senate because he can block his party’s agenda. EUROZONE:- The Bank of England will say on Thursday that Britain’s economy is heading for a much stronger recovery this year than it previously expected and it might start to slow its pandemic emergency support. The BoE forecast in February that the world’s fifth-biggest economy would grow by 5% in 2021, having slumped by 10% in 2020. That was a bigger hit than in most other European economies after Prime Minister Boris Johnson was slower to impose a coronavirus lockdown and had to keep it in place for longer in an economy heavily reliant on face-to-face consumer services. But many economists say Britain is now set to grow by more than 7% this year, boosted by its fast COVID-19 vaccinations. The BoE will announce its latest forecasts at 1100 GMT when it is also expected to keep its benchmark interest rate and its bond-buying programme unchanged, for now. “There’s a growing sense that the UK is finally on the way out of the pandemic, and with that comes an increased focus on the Bank of England’s future tightening plans,” analysts at ING said in a note to clients. “Indeed, we think the Bank may announce some tapering of its quantitative easing programme.” The BoE is spending 4.4 billion pounds ($6.12 billion) a week on its bond-buying programme, having cut the benchmark rate to an all-time low of 0.1% in March last year. That pace might slow to 3.2 billion pounds a week to allow the quantitative easing programme, currently capped at 895 billion-pounds, to last until the end of the year, analysts at Bank of America said. Such a move would represent a moderate step towards the moment when the BoE begins to reverse its emergency stimulus. Most economists polled by Reuters last month pencilled in a first rate hike only in 2023. On Wednesday, investors were pricing in a small 15 basis-point increase in rates by September of next year. EARLY SIGNAL? “The Bank of England remains a long way off tightening monetary policy, but could be one of the first central banks to signal it’s thinking about it,” Shamik Dhar, chief economist at BNY Mellon Investment Management. The Bank of Canada last month said it could start to raise rates by late 2022 and it pared back its bond-buying. The BoE is treading more cautiously. It said in February it was starting to work on its messaging about how it might tighten monetary policy in the future. Governor Andrew Bailey has signalled the BoE might start to shrink its massive bond stockpile earlier than it had outlined under his predecessor Mark Carney. That 2018 scenario foresaw no bond sales until the BoE’s benchmark reached 1.5%, a distant prospect now. Despite the revival of Britain’s economy – retailers and restaurants reopened last month and most restrictions are due to be lifted by the end of June – a big test awaits in September. That is when finance minister Rishi Sunak is due to finish phasing out a job support programme, the centrepiece of a public spending splurge that has left Britain with record peacetime borrowing. With unemployment likely to rise, analysts at Citi expect the BoE to resort to a further 50 billion-pound increase to its bond-buying programme in late 2021. The BoE is also keeping a close eye on how frictions on trade with the European Union weigh on growth. And an election for Scotland’s devolved parliament on Thursday could strengthen calls from nationalists for a new independence referendum that would create fresh political uncertainty for Britain’s economy. TECHNICAL SUMMARY USD/CHF:- TRADE SUGGESTION- Sell AT 0.9140, TAKE PROFIT AT 0.9100 AND STOP LOSS AT 0.9160. USD/CAD:- TRADE SUGGESTION- Sell AT 1.2276, TAKE PROFIT AT 1.2296 AND STOP LOSS AT 1.2266. GBP/USD:- TRADE SUGGESTION- BUY AT 1.3890, TAKE PROFIT AT 1.3940 AND STOP LOSS AT 1.3865. S&P 500:- TRADE SUGGESTION- BUY AT 4160.50, TAKE PROFIT AT 4210.50 AND STOP LOSS AT 4135.50. SILVER:- TRADE SUGGESTION- BUY AT 26.470, TAKE PROFIT AT 26.870 AND STOP LOSS AT 26.270 ETHEREUM:- TRADE SUGGESTION- BUY AT 3,440.50, TAKE PROFIT AT 3,640.50 AND STOP LOSS 3,340.50 .
TECHNICAL ANALYSIS REPORT TODAY – 07 MAY 2021 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: 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 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:- 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:- TRADE SUGGESTION- Sell AT 0.9070, TAKE PROFIT AT 0.9010 AND STOP LOSS AT 0.9100. USD/CAD:- TRADE SUGGESTION- Sell AT 1.2165, TAKE PROFIT AT 1.2205 AND STOP LOSS AT 1.2145. GBP/USD:- TRADE SUGGESTION- BUY AT 1.3900, TAKE PROFIT AT 1.3950 AND STOP LOSS AT 1.3875. DAX 30:- TRADE SUGGESTION- BUY AT 15,255.50, TAKE PROFIT AT 15,455.50 AND STOP LOSS AT 15,155.50. SILVER:- TRADE SUGGESTION- BUY AT 27.270, TAKE PROFIT AT 27.470 AND STOP LOSS AT 27.170 ETHEREUM:- TRADE SUGGESTION- BUY AT 3,460.50, TAKE PROFIT AT 3,660.50 AND STOP LOSS 3,360.50 .
WEEKLY GLOBAL MARKETS TECHNICAL ANALYSIS REPORT – 09 MAY 2021 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. U.S. Fed Chair Powell Speaks WHEN: WHAT IT INFLUENCES: 3rd MAY 2021 USD and its subsequent pairs WHAT’S HAPPENING: Federal Reserve Chair Jerome Powell (Feb. 2018 – Feb. 2022) is to speak. As head of the Fed, which controls short term interest rates, he has more influence over the U.S. dollar’s value than any other person. Traders closely watch his speeches as they are often used to drop hints regarding future monetary policy. U.K. Manufacturing Purchasing Managers Index (PMI) WHEN: WHAT IT INFLUENCES: 4th May 2021 GBP and its subsequent pairs WHAT’S HAPPENING: The 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 50 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 GBP, while a lower than expected reading should be taken as negative/bearish for the GBP. Gold Has Best Week Since October on U.S. Payrolls Shock WHAT IT HAD INFLUENCED: GOLD WHAT HAPPENED: Gold had its best week in six months as shockingly low U.S. payrolls numbers for April, coupled with the yellow metal’s belated catch up to inflationary trends, gave it a gain of 3.5% on the week. Price-wise, gold was nearing peaks last seen 12 weeks ago, closing in on the $1,850 per ounce level, that could set up a return to $1,900 and ultimately the $2,000 record highs attained in August. “Gold’s short-term momentum could make a run towards the $1,857 level, which could be followed by a move towards the $1,925 resistance level,” said Ed Moya, head of research for Americas at online trading platform OANDA Benchmark Gold Futures on New York’s Comex settled up $15.60, or 0.9%, at $1,831.30 an ounce. The session high was $1,844.40. For the week, gold futures showed a 3.2% gain, the highest since the week ended Oct. 29. The spot price of gold rose by $16.35, or 0.9%, to $1,831.53, after a peak at $1,843.36. For the week, spot gold printed a much higher gain of 3.5%. Oil Gains for 2nd Week, But Prices Range-Bound Again WHAT IT HAD INFLUENCED: BRENT & WTI CRUDE OIL WHAT HAPPENED: Oil put in a second week of gains as crude prices reentered range-bound trading on Friday on concerns about slowing U.S. jobs growth and the Covid situation in No. 3 energy consuming nation India. New York-traded WTI, the benchmark for U.S. crude, settled up 19 cents, or 0.3%, at $64.90 per barrel. WTI hit an eight-week high of $66.75 on Wednesday, before snapping a four-day rally. For the week, it showed a 2% gain. London-traded Brent, the global benchmark for crude, also settled up 19 cents, or 0.3%, at $68.28. Brent hit an eight-week high of $69.94 on Wednesday, before losing its momentum. For the week, it was up 1.5%. “Oil prices might have a positive second consecutive week, but it is nothing to get energy traders excited that oil will break away from its tightening trading range,” said Ed Moya, head of America’s research at online trading platform OANDA. Pessimism grew again on the outlook for oil after the Labor Department reported on Friday that the U.S. unemployment rate rose to 6.1 percent in April as the country added a sharply lower-than-forecast 266,000 jobs in a pandemic-suppressed market. Economists had expected as many as 1 million new U.S. jobs for last month, building on to the March gains of 916,000. That made what the Labor Department reported disappointing to many. Expectations of runaway U.S. inflation in an economy sprinting from Covid-19 had fueled a rally across commodities since the start of the year, despite Fed attempts to assuage concerns that rising price pressures were only temporary. 5 KEY EVENTS TO WATCH OUT Australia Retail Sales MoM WHEN: WHAT IT INFLUENCES: 9th May 2021 AUD and its subsequent pairs WHAT’S HAPPENING: Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity. A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD. Germany ZEW Economic Sentiment WHEN: WHAT IT INFLUENCES: 11th May 2021 EUR and its subsequent pairs WHAT’S HAPPENING: The German Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment Index gauges the six-month economic outlook. A level above zero indicates optimism; below indicates pessimism. The reading is compiled from a survey of about 350 German institutional investors and analysts. 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. Bank of England Governor Bailey Speaks WHEN: WHAT IT INFLUENCES: 11th May 2021 GBP and its subsequent pairs WHAT’S HAPPENING: Bank of England (BOE) Governor Andrew Bailey (Mar 2020 – Mar 2028) is to speak. As head of the BOE’s Monetary Policy Committee (MPC) which controls short term interest rates, Bailey has more influence over sterling’s value than any other person. Traders scrutinize his public engagements for clues regarding future monetary policy. His comments may spark a short-term positive or negative trend. U.S. Core Consumer Price Index (CPI) MoM WHEN: WHAT IT INFLUENCES: 12th May 2021 USD and its subsequent Pairs WHAT’S HAPPENING: The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation. 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 European Central Bank Monetary Policy Statement WHEN: WHAT IT INFLUENCES: 14th May 2021 EUR and its subsequent pairs WHAT’S HAPPENING: European Central Bank Monetary Policy Statement contains the outcome of the ECB’s decision on asset purchases and commentary about the economic conditions that influenced their decision. EQUITIES IN THE COMING WEEK 1. Panasonic(0QYR) to announce its Quarterly Results on 10th May 2021, EPS estimated to 9.24 per share while revenue estimated 1752.15B 2. Walt Disney(DIS) to announce its Quarterly Results on 13th May 2021, EPS estimated to 0.2707 per share while revenue estimated 15.85B. 3.United Malt (UMG) to announce its Quarterly Results on 13thMay 2021, EPS estimated to 12.00 per share while revenue estimated .630.6M 4. Burberry Group(BRBY) to announce its Quarterly Results on 13th May 2021, EPS estimated to 42.71 per share while revenue estimated 1.391M. 5. Sage (SGE) to announce its Quarterly Results on 14th May 2021, EPS estimated to 11.79 per share while revenue estimated 925.23M. TOP CURRENCIES IN THE UPCOMING WEEK USD/JPY USD/JPY is trading in a upward channel, the Up side can be seen in the coming days. GBP/USD GBP/USD is trading in a Upward channel, the Upside can be seen in the coming days USD/CAD USD/CAD is trading in an Downward channel, the Down side can be seen in the coming days. TOP INDEX TO WATCH OUT DAX 30 DAX 30 is trading in a Upward channel, the Up side can be seen in the coming days. CAC 40 CAC 40 is trading in a upward channel, the Up side can be seen in the coming days. NIKKEI 225 NIKKEI 225 is trading in a upward channel, the Up side can be seen in the coming days. TOP COMMODITIES TO WATCH OUT GOLD Gold is trading in a upward channel, the Up side can be seen in the coming days. Crude Oil Crude Oil is trading in a upward channel, the Up side can be seen in the coming days. TOP CRYPTO -CURRENCIES TO WATCH OUT Bitcoin Bitcoin is trading in a upward channel, the Up side can be seen in the coming days. RIPPLE Ripple is trading in an upward channel, the Up side can be seen in the coming days. DATA WATCH
TECHNICAL ANALYSIS REPORT TODAY – 11 MAY 2021 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: 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 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:- 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:- TRADE SUGGESTION- BUY AT 1.21320, TAKE PROFIT AT 1.21620 AND STOP LOSS AT 1.21170 USD/CAD:- TRADE SUGGESTION- Sell AT 1.20950, TAKE PROFIT AT 1.20850 AND STOP LOSS AT 1.21000. GBP/USD:- TRADE SUGGESTION- BUY AT 1.4110, TAKE PROFIT AT 1.4160 AND STOP LOSS AT 1.4060 NASDAQ 100:- TRADE SUGGESTION- BUY AT 13,235.50, TAKE PROFIT AT 13,435.50 AND STOP LOSS AT 13,135.50. SILVER:- TRADE SUGGESTION- BUY AT 27.260, TAKE PROFIT AT 27.460 AND STOP LOSS AT 27.160 ETHEREUM:- TRADE SUGGESTION- BUY AT 3,925.50, TAKE PROFIT AT 4,125.50 AND STOP LOSS 3,825.50 .
TECHNICAL ANALYSIS REPORT TODAY – 12 MAY 2021 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: 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 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:- 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:- TRADE SUGGESTION- BUY AT 1.21240, TAKE PROFIT AT 1.21440 AND STOP LOSS AT 1.21140 USD/CAD:- TRADE SUGGESTION- Sell AT 1.21130, TAKE PROFIT AT 1.21030 AND STOP LOSS AT 1.21180. GBP/USD:- TRADE SUGGESTION- BUY AT 1.4110, TAKE PROFIT AT 1.4160 AND STOP LOSS AT 1.4060 CAC 40:- TRADE SUGGESTION- BUY AT 6,250.50, TAKE PROFIT AT 6,350.50 AND STOP LOSS AT 6,200.50. SILVER:- TRADE SUGGESTION- BUY AT 27.360, TAKE PROFIT AT 27.560 AND STOP LOSS AT 27.260 ETHEREUM:- TRADE SUGGESTION- BUY AT 4,320.50, TAKE PROFIT AT 4,520.50 AND STOP LOSS 4,220.50 .
TECHNICAL ANALYSIS REPORT TODAY – 13 MAY 2021 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: 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 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:- 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:- TRADE SUGGESTION- BUY AT 1.20810, TAKE PROFIT AT 1.21010 AND STOP LOSS AT 1.20710 USD/CAD:- TRADE SUGGESTION- Sell AT 1.21320, TAKE PROFIT AT 1.21020 AND STOP LOSS AT 1.21480. GBP/USD:- TRADE SUGGESTION- BUY AT 1.4050, TAKE PROFIT AT 1.4150 AND STOP LOSS AT 1.4000 NASDAQ 100:- TRADE SUGGESTION- SELL AT 13,020.50, TAKE PROFIT AT 12,820.50 AND STOP LOSS AT 13,170.50. Gold:- TRADE SUGGESTION- BUY AT 1820.360, TAKE PROFIT AT 1870.360 AND STOP LOSS AT 1795.360 ETHEREUM:- TRADE SUGGESTION- BUY AT 3,990.50, TAKE PROFIT AT 4,190.50 AND STOP LOSS 3,890.50 .
TECHNICAL ANALYSIS REPORT TODAY – 14 MAY 2021 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: 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 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:- 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:- TRADE SUGGESTION- BUY AT 109.480, TAKE PROFIT AT 109.680 AND STOP LOSS AT 109.380 EUR/USD:- TRADE SUGGESTION- BUY AT 1.20880, TAKE PROFIT AT 1.20980 AND STOP LOSS AT 1.20780 USD/CAD:- TRADE SUGGESTION- Sell AT 1.21720, TAKE PROFIT AT 1.21520 AND STOP LOSS AT 1.21820. S&P 500:- TRADE SUGGESTION- SELL AT 4,120.50, TAKE PROFIT AT 4,070.50 AND STOP LOSS AT 4,145.50. Gold:- TRADE SUGGESTION- BUY AT 1825.360, TAKE PROFIT AT 1875.360 AND STOP LOSS AT 1800.360 ETHEREUM:- TRADE SUGGESTION- BUY AT 3,810.50, TAKE PROFIT AT 3,910.50 AND STOP LOSS 3,760.50 .
TECHNICAL ANALYSIS REPORT TODAY – 17 MAY 2021 Asian share markets turned mixed on Monday. The Shanghai composite is up 0.78% at 3,517.615. Overall, the Singapore MSCI up 0.75% at 347.80. Over in Hong Kong, the Hang Seng Index up 0.60% to 28,083. In Japan, the Nikkei 225 down 0.96% at 27,770, while the Topix index is down 0.27% at 1876.0. South Korea’s Kospi down 0.60% to 3134.53. Australia S&P/ASX 200 up 0.13% at 7023.6. European equities Friday closing. The DAX futures contract in Germany traded 1.43% up at 15416.64, CAC 40 futures up 0.26% at 6402.85 and the UK 100 futures contract in the U.K. up 0.26% at 7,062.2. In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.06% up at 34382.5 the S&P 500 up 1.49% to 4173.9 and the Nasdaq 100 down 0.10% at 13396.9, NYSE closes at 16415.35 up 1.44%. In the Forex market, GBPUSD up 0.19% at 1.41159. The USDJPY down 0.15% at 109.168. The USDCHF up 0.02% at 0.90132. EURUSD flat at 1.21446, EUR/GBP down 0.10% at 0.86040. The USD/CNY up 0.02% at 6.4380, at the time of writing. In the commodity market U.S. Gold futures up 0.64% at $1,854.00. Elsewhere, Silver futures up 1.07% to $27.703 per ounce, Platinum up 0.82% at $1235.03 per ounce, and Palladium up 0.36% to $2,903. Crude Oil mix on Monday; Brent crude oil down 0.29% to $68.61 barrel while U.S. West Texas Intermediate (CLc1) is up 0.90% at $65.09. In the Cryptocurrency Markets, BTCUSD at 44570.82 down 4.04%, Ethereum at 3448.85 down 3.76%, Litecoin at 285.72 up 3.61%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: SEAGATE TECH. up 12.441% at $97.97, WESTERN DIGITAL up 8.287% at $71.87, GAP Inc. up 6.597% to $35.71, WALT DISNEY Co. down 2.602% to $173.7, BOEING Inc. up 2.619% to $228.47, WALT DISNEY down 2.602% at $173.7. Economic news: US: High unemployment. Rising prices. Gas lines. They’re a bad memory for Americans old enough to remember the 1970s – but they’re also likely causing a few sleepless nights in the White House, as the United States’ economic recovery from the unprecedented coronavirus recession hits some bumps. The jolts are dampening consumer confidence, ramping up inflation fears, and helping Republicans build their case against President Joe Biden and his ambitious plans to revamp the U.S. economy with trillions in new spending. As the 1970s show, high joblessness and rising prices the United States saw in April can be a potent political force. Republicans crafted a “misery index” out of the two factors to attack then-president Jimmy Carter. After hitting 75% approval ratings early in his presidency, the Democrat was trounced in a 1980 landslide. Eurozone: Euro zone governments’ borrowing costs are at multi-month highs and German 10-year bond yields are rising towards 0%, yet ECB policymakers and investors appear unruffled, a sign that they view the bloc’s ongoing economic recovery as the real thing. It’s a contrast with February when yields on German bonds, the euro area benchmark rate, rose 35 basis points within a month to -0.20%. That led European Central Bank officials to line up and talk the markets down with veiled threats to tamp down borrowing costs. They then followed up in March by accelerating the pace of emergency bond buys. This time, Germany’s Bund yield is near its highest level in almost two years and looks set to breach the 0% milestone for the first time since 2019. Important Data: US NY Empire State Manufacturing Index (May) today at 8:30 this time estimated 23.9, previously which was 26.3. CANADA Housing Starts (Apr) today at 8:15 this time estimated 292.5K, previously which was 335.2K. RUSSIA GDP Quarterly (YoY) (Q1) today at 12:00 this time estimated 2.2%, previously which was -1.8%. JAPAN GDP (QoQ) (Q1) today at 19:50 previously which was at 2.8%. TECHNICAL SUMMARY GBPUSD TRADE SUGGESTION- BUY AT 1.41032, TAKE PROFIT AT 1.41473 AND STOP LOSS AT 1.40657 EURUSD TRADE SUGGESTION- BUY AT 1.21373, TAKE PROFIT AT 1.21626 AND STOP LOSS AT 1.2111 USDJPY TRADE SUGGESTION- SELL AT 109.221, TAKE PROFIT AT 109.034 AND STOP LOSS AT 109.456 EURJPY TRADE SUGGESTION- BUY AT 132.569, TAKE PROFIT AT 132.806 AND STOP LOSS AT 132.436 DAX 30 TRADE SUGGESTION- BUY AT 15407.5 TAKE PROFIT AT 15503.9 AND STOP LOSS AT 15261.5 WTI CRUDE OIL TRADE SUGGESTION- BUY AT 65.34 TAKE PROFIT AT 65.71 AND STOP LOSS AT 64.72 GOLD TRADE SUGGESTION- BUY AT 1853.00, TAKE PROFIT AT 1863.07 AND STOP AT 1842.96 BTC USD TRADE SUGGESTION- SELL AT 45201.00 TAKE PROFIT AT 44319.68 AND STOP AT 46310.62
TECHNICAL ANALYSIS REPORT TODAY – 18 MAY 2021 Asian shares rose on Tuesday. The Shanghai composite is up 0.17% at 3,523.50. Overall, the Singapore MSCI up 2.24% at 355.60. Over in Hong Kong, the Hang Seng Index up 1.41% to 28,487. In Japan, the Nikkei 225 up 2.48% at 28,460, while the Topix index is up 1.79% at 1909.5. South Korea’s Kospi up 1.23% to 3173.50. Australia S&P/ASX 200 up 0.60% at 7066.0. European equities Monday closing. The DAX futures contract in Germany traded 0.13% down at 15396.62, CAC 40 futures down 0.28% at 6367.36 and the UK 100 futures contract in the U.K. down 0.15% at 7,032.9. In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.16% down at 34327.8 the S&P 500 down 0.25% to 4163.3 and the Nasdaq 100 up 0.81% at 13430.3, NYSE closes at 16422.96 up 0.55%. In the Forex market, GBPUSD up 0.43% at 1.41874. The USDJPY down 0.13% at 109.049. The USDCHF down 0.42% at 0.89940. EURUSD up 0.31% at 1.21867, EUR/GBP down 0.02% at 0.85906. The USD/CNY down 0.22% at 6.4248, at the time of writing. In the commodity market U.S. Gold futures up 0.224% at $1,870.26. Elsewhere, Silver futures up 1.24% to $28.526 per ounce, Platinum up 0.27% at $1242.32 per ounce, and Palladium up 0.44% to $2,915.87. Crude Oil up on Tuesday; Brent crude oil up 0.36% to $69.79 barrel while U.S. West Texas Intermediate (CLc1) is up 0.41% at $66.56. In the Cryptocurrency Markets, BTCUSD at 44968.03 up 3.08%, Ethereum at 3472.58 up 5.83%, Litecoin at 302.74 up 7.63%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: SEAGATE TECH. up 6.39% at $104.23, WESTERN DIGITAL up 6.331% at $76.42, COMCAST Corp. down 5.496% to $55.455, DISCOVERY Inc. down 5.049% to $33.85, AT&T Inc. down 2.699% to $31.37, NIEK Inc. up 0.353% at $136.41. Economic news: US: The United States and Canada urged Mexico to respect foreign investments during trade discussions on Monday, officials said, while Washington also raised issues over Mexican farm produce. The talks came at the start of the first meeting of the United States-Mexico-Canada Agreement (USMCA) Free Trade Commission, which centers on the trade accord that last year replaced the North American Free Trade Agreement (USMCA). Virtual talks were held bilaterally between Mexican Economy Minister Tatiana Clouthier and her counterparts U.S. Trade Representative Katherine Tai and Mary Ng, Canada’s Minister of Small Business, Export Promotion and International Trade. The Mexican Economy Ministry said Clouthier and Tai discussed auto sector rules of origin, Mexico’s labor market reform, collaboration on environmental issues and ongoing U.S. probes into Mexican agricultural products. Eurozone: The European Commission wants to propose in 2023 a more unified way of taxing companies in the European Union, hoping that such rules, which have failed to win support in the past, will stand a better chance if they follow global OECD solutions expected this year. The Commission will present a plan on Tuesday including this proposal and other measures for adjusting the EU’s business taxation to make it more up to date with the modern world, where cross-border business, often carried out via the Internet, is commonplace. Important Data: US Building Permits (Apr) today at 8:30 this time estimated 1.77M, previously which was 1.759M. AUSTRALIA Wage Price Index (QoQ) (Q1) today at 21:30 this time estimated 0.5%, previously which was 0.6%. US API Weekly Crude Oil Stock today at 16:30 previously which was -2.533M. EURO ZONE GDP (YoY) (Q1) today at 5:00 previously which was at -1.8%. TECHNICAL SUMMARY GBPUSD TRADE SUGGESTION- SELL AT 1.37671, TAKE PROFIT AT 1.37141 AND STOP LOSS AT 1.38503 EURUSD TRADE SUGGESTION- SELL AT 1.17572, TAKE PROFIT AT 1.17179 AND STOP LOSS AT 1.17993 GBPJPY TRADE SUGGESTION- BUY AT 151.390, TAKE PROFIT AT 152.121 AND STOP LOSS AT 150.754 CHFJPY TRADE SUGGESTION- SELL AT 116.981, TAKE PROFIT AT 116.765 AND STOP LOSS AT 117.215 DOW JONES TRADE SUGGESTION- BUY AT 33074 TAKE PROFIT AT 33164 AND STOP LOSS AT 32993 WTI CRUDE OIL TRADE SUGGESTION- SELL AT 61.37 TAKE PROFIT AT 61.02 AND STOP LOSS AT 61.73 GOLD TRADE SUGGESTION- SELL AT 1703.85, TAKE PROFIT AT 1699.61 AND STOP AT 1709.27 LITECOIN USD TRADE SUGGESTION- SELL AT 192.55 TAKE PROFIT AT 186.23 AND STOP AT 199.47
TECHNICAL ANALYSIS REPORT TODAY – 19 MAY 2021 Asia-Pacific shares outside Japan dropped 0.3%. The Shanghai composite is down 0.51% at 3,510.96. Overall, the Singapore MSCI down 1.25% at 352.15. Over in Hong Kong, the Hang Seng Index down 0.13% to 28,418. In Japan, the Nikkei 225 down 1.72% at 27,970, while the Topix index is down 1.07% at 1889.0. South Korea’s Kospi up 1.23% to 3173.50. Australia S&P/ASX 200 down 1.90% at 6931.7. European equities Tuesday closing. The DAX futures contract in Germany traded 0.07% down at 15386.58, CAC 40 futures down 0.99% at 6290.49 and the UK 100 futures contract in the U.K. down 0.69% at 6970.1. In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.78% down at 34060.66 the S&P 500 down 0.85% to 4127.83 and the Nasdaq 100 down 0.59% at 13117.6, NYSE closes at 16337.73 down 0.52%. In the Forex market, GBPUSD up 0.03% at 1.41933. The USDJPY up 0.10% at 108.984. The USDCHF down 0.06% at 0.89716. EURUSD up 0.14% at 1.22391, EUR/GBP up 0.13% at 0.86248. The USD/CNY up 0.04% at 6.4278, at the time of writing. In the commodity market U.S. Gold futures up 0.12% at $1,871.45. Elsewhere, Silver futures down 0.25% to $28.078 per ounce, Platinum down 0.08% at $1219.03 per ounce, and Palladium up 0.03% to $2,904.50. Crude Oil mix on Wednesday; Brent crude oil down 0.93% to $67.88 barrel while U.S. West Texas Intermediate (CLc1) is down 0.32% at $65.16. In the Cryptocurrency Markets, BTCUSD at 39105.81 down 8.63%, Ethereum at 2917.71 down 13.69%, Litecoin at 264.17 down 10.16%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: Top 5 Stock WALMART Inc. up 2.174% at $141.91, NETEASE Inc. up 3.537% at $108.61, DEXCOM Inc. up 1.447% to $330.11, CSX Corp. down 1.494% to $98.90, AT&T Inc. down 5.802% to $29.55, GAP Inc. down 3.716% at $34.98. Economic news: US: The Biden administration on Tuesday gave investors two extra weeks to buy or sell securities in certain companies it deems are tied to the Chinese military, an extension it said was needed to craft a stronger policy to prohibit such trades. President Joe Biden’s administration has been reviewing a number of aspects of U.S.-China policy, including a ban imposed under his predecessor Donald Trump on investments in certain Chinese companies that the United States says are linked to China’s armed forces and intelligence agencies. Investors now have until 9:30 a.m. (1330 GMT) on June 11 to compete their transactions, the U.S. Treasury Department said in a notice posted on its website. The previous deadline was May 27. Eurozone: British Prime Minister Boris Johnson on Wednesday announced a series of urban renewal projects worth 830 million pounds ($1.2 billion) in towns and cities away from London as part of his promise to “level up” the country’s economy. Johnson, who won a 2019 election thanks largely to voters in struggling regions of England and is facing pressure from nationalists in Scotland and Northern Ireland, also said more than 3,000 interior and business ministry jobs would move to Stoke-on-Trent in central England, Edinburgh and Belfast by 2025. “As the country gets back on its feet, the government has renewed its commitment to levelling up and tackling the issues that really matter to people,” Johnson said in a statement. Important Data: EURO ZONE CPI (YoY) (Apr) today at 5:00 this time estimated 1.6%, previously which was 1.3%. CANADA Core CPI (MoM) (Apr) today at 8:30 previously which was 0.3%. US Crude Oil Inventories Stock today at 10:30 this time estimated 1.623M previously which was -0.427M. JAPAN Adjusted Trade Balance today at 19:50 previously which was at 0.30T. TECHNICAL SUMMARY GBPUSD TRADE SUGGESTION- BUY AT 1.41772, TAKE PROFIT AT 1.41968 AND STOP LOSS AT 1.41716 EURUSD TRADE SUGGESTION- BUY AT 1.22196, TAKE PROFIT AT 1.22261 AND STOP LOSS AT 1.22129 USDJPY TRADE SUGGESTION- SELL AT 109.059, TAKE PROFIT AT 108.899 AND STOP LOSS AT 109.146 USDCHF TRADE SUGGESTION- SELL AT 0.90, TAKE PROFIT AT 0.89863 AND STOP LOSS AT 0.90110 HANG SENG TRADE SUGGESTION- BUY AT 28397.0 TAKE PROFIT AT 28538 AND STOP LOSS AT 27889 WTI CRUDE OIL TRADE SUGGESTION- SELL AT 64.25 TAKE PROFIT AT 63.60 AND STOP LOSS AT 65.04 GOLD TRADE SUGGESTION- BUY AT 1860.70, TAKE PROFIT AT 1867.95 AND STOP AT 1859.85 LITECOIN TRADE SUGGESTION- SELL AT 271.42 TAKE PROFIT AT 249.30 AND STOP AT 282.95
TECHNICAL ANALYSIS REPORT TODAY – 20 MAY 2021 Asia Pacific stocks were mostly down Thursday morning. The Shanghai composite is down 0.14% at 3,486.06. Overall, the Singapore MSCI up 0.43% at 352.75. Over in Hong Kong, the Hang Seng Index down 0.44% to 28,328. In Japan, the Nikkei 225 up 0.43% at 28,090, while the Topix index is up 0.29% at 1894.5. South Korea’s Kospi down 0.34% to 3162.28. Australia S&P/ASX 200 up 1.27% at 7019.6. European equities Wednesday closing. The DAX futures contract in Germany traded 1.77% down at 15113.56, CAC 40 futures down 1.43% at 6262.56 and the UK 100 futures contract in the U.K. down 1.19% at 6,950.2. In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.48% down at 33896.04 the S&P 500 down 0.29% to 4115.68 and the Nasdaq 100 down 0.13% at 13207.7, NYSE closes at 16233.31 down 0.64%. In the Forex market, GBPUSD up 0.08% at 1.41263. The USDJPY down 0.13% at 109.055. The USDCHF down 0.02% at 0.90347. EURUSD up 0.14% at 1.21865, EUR/GBP up 0.05% at 0.86250. The USD/CNY up 0.09% at 6.4404, at the time of writing. In the commodity market U.S. Gold futures up 0.14% at $1,872.35. Elsewhere, Silver futures up 0.27% to $27.805 per ounce, Platinum up 1.53% at $1206.03 per ounce, and Palladium up 0.43% to $2,879.77. Crude Oil mix on Thursday; Brent crude oil up 0.35% to $66.87 barrel while U.S. West Texas Intermediate (CLc1) is down 0.75% at $64.67. In the Cryptocurrency Markets, BTCUSD at 40268.94 up 9.55%, Ethereum at 2689.41 up 9.97%, Litecoin at 208.47 up 11.78%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: Top 5 Stock TARGET Corp. up 6.094% at $219.01, KLA Corp. up 3.409% at $303.94, TERADYNE Inc. up 3.065% to $122.41, TESLA Inc. down 2.494% to $563.46, EBAY Inc. down 2.447% to $59.79, STARBUCKS Corp. down 1.261% at $109.67. Economic news: US: A bipartisan group of 20 U.S. senators introduced legislation on Wednesday to provide the cash-strapped U.S. Postal Service (USPS) with $46 billion in financial relief over 10 years. The U.S. House of Representatives Oversight and Reform Committee voted unanimously to approve companion legislation last week. The legislation would eliminate a requirement that USPS pre-fund retiree health benefits for 75 years and would require postal employees to enroll in the Medicare government-retiree health plan. Instead, USPS would pay a small, yearly “top-up” payment to address actual annual retiree costs. The agency has reported net losses of $86.7 billion since 2007. One reason is 2006 legislation mandating that it pre-fund more than $120 billion in retiree healthcare and pension liabilities, a requirement that labour unions have called an unfair burden not shared by other businesses. Eurozone: Britain wants to use its independent post-Brexit tariff regime to help make domestic manufacturers more internationally competitive, launching a scheme for firms to apply for a suspension of tariffs on their imported manufacturing inputs. Tariff suspensions are used to help a huge range of sectors like agriculture, microelectronics and chemicals, by lowering the cost of importing raw materials or other inputs where they are scarce or unavailable locally. The scheme replaces an equivalent European Union (EU) programme which applied to Britain before it left the bloc and was temporarily rolled over when that exit was completed at the end of 2020. Under the EU scheme, suspensions had to be assessed by all member states. Important Data: US Initial Jobless Claims today at 8:30 this time estimated 450K, previously which was 473K. CANADA New Housing Price Index (MoM) (Apr) today at 8:30 previously which was 1.1%. JAPAN National CPI (MoM) today at 19:30 previously which was 0.2%. JAPAN Services PMI today at 20:30 previously which was at 49.5. TECHNICAL SUMMARY GBPUSD TRADE SUGGESTION- BUY AT 1.41315, TAKE PROFIT AT 1.41480 AND STOP LOSS AT 1.41217 EURUSD TRADE SUGGESTION- BUY AT 1.21957, TAKE PROFIT AT 1.22069 AND STOP LOSS AT 1.21931 AUDCAD TRADE SUGGESTION- SELL AT 0.93932, TAKE PROFIT AT 0.93866 AND STOP LOSS AT 0.94 AUDUSD TRADE SUGGESTION- SELL AT 0.77431, TAKE PROFIT AT 0.77206 AND STOP LOSS AT 0.77666 DAX 30 TRADE SUGGESTION- SELL AT 15186.4 TAKE PROFIT AT 15079.9 AND STOP LOSS AT 15269.6 WTI CRUDE OIL TRADE SUGGESTION- SELL AT 62.94 TAKE PROFIT AT 62.48 AND STOP LOSS AT 63.60 GOLD TRADE SUGGESTION- BUY AT 1871.37, TAKE PROFIT AT 1875.76 AND STOP AT 1868.07 RIPPLE TRADE SUGGESTION- SELL AT 1.1630 TAKE PROFIT AT 1.4242 AND STOP AT 1.2098
TECHNICAL ANALYSIS REPORT TODAY – 26 MAY 2021 Asian shares rose on Wednesday. The Shanghai composite is up 0.31% at 3,592.26. Overall, the Singapore MSCI down 0.62% at 354.90. Over in Hong Kong, the Hang Seng Index up 0.83% to 29,134. In Japan, the Nikkei 225 up 0.21% at 28,660, while the Topix index is down 0.03% at 1921.5. South Korea’s Kospi down 0.19% to 3165.28. Australia S&P/ASX 200 down 0.11% at 7107.3. European equities Tuesday closing. The DAX futures contract in Germany traded 0.18% up at 15465.09, CAC 40 futures down 0.28% at 6390.27 and the UK 100 futures contract in the U.K. up 0.30% at 7,032.6. In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 34312.46 the S&P 500 down 0.21% to 4188.12 and the Nasdaq 100 up 0.14% at 13694.4, NYSE closes at 16390.19 down 0.45%. In the Forex market, GBPUSD up 0.05% at 1.41523. The USDJPY up 0.07% at 108.814. The USDCHF up 0.08% at 0.89537. EURUSD down 0.02% at 1.22466, EUR/GBP down 0.02% at 0.86523. The USD/CNY down 0.22% at 6.3966, at the time of writing. In the commodity market U.S. Gold futures up 0.17% at $1,901.26. Elsewhere, Silver futures up 0.28% to $28.03 per ounce, Platinum up 0.99% at $1202.75 per ounce, and Palladium up 0.85% to $2,794.14. Crude Oil up on Wednesday; Brent crude oil up 0.23% to $68.74 barrel while U.S. West Texas Intermediate (CLc1) is up 2.28% at $66.35. In the Cryptocurrency Markets, BTCUSD at 39845.99 up 3.77%, Ethereum at 2848.17 up 5.39%, Litecoin at 197.96 up 7.72%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: Top 5 Stock CARNIVAL Corp. up 2.437% at $28.58, BAIDU Inc. up 2.016% at $192.77, WORKDAY Inc. up 1.098% to $236.57, ADOBE Inc. up 1.456% to $505.08, BIOGEN Inc. down 1.94% to $273.45, SEAGEN Inc. down 1.939% at $150.69. Economic news: US: U.S. companies borrowed $9.8 billion for capital investments in April, up 19% from a year earlier, benefiting from an economic recovery triggered by mass COVID-19 vaccinations and easing restrictions, the Equipment Leasing and Finance Association (ELFA) said. Borrowing in April rose 5% from the previous month, as companies across several sectors lined up for loans, leases and lines of credit. “An increasing number of businesses are opening up, as more Americans are receiving a vaccination, traveling and otherwise trying to return to some semblance of normalcy,” ELFA Chief Executive Officer Ralph Petta said on Tuesday. “What we see so far in terms of capital equipment investment is indeed encouraging as we head into the summer months.” Eurozone: The European Central Bank should not reduce the pace of asset purchases after its June 10 meeting as the economic recovery is still in an early phase and inflation remains too low, ECB board member Fabio Panetta told Nikkei. “The conditions that we see today do not justify reducing the pace of purchases, and a discussion about phasing out the PEPP is still clearly premature,” Panetta said in an interview. The 1.85 trillion-euro ($2.27 trillion) Pandemic Emergency Purchase Programme (PEPP) should first neutralise the effects of the pandemic on inflation then needs to ensure that price pressures become more sustainable, Panetta added. Important Data: US Crude Oil Inventories today at 10:30 this time estimated -1.050M, previously which was 1.321M. US Private New Capital Expenditure (QoQ) (Q1) today at 21:30 this time estimated 2.0%, previously which was 3.0%. US Cushing Crude Oil Inventories today at 10:30 previously which was -0.142M. CANADA BoC Gov Council Member Lane Speaks today at 13:00. TECHNICAL SUMMARY GBPUSD TRADE SUGGESTION- BUY AT 1.41503, TAKE PROFIT AT 1.41676 AND STOP LOSS AT 1.41425 EURUSD TRADE SUGGESTION- BUY AT 1.22411, TAKE PROFIT AT 1.22531 AND STOP LOSS AT 1.22361 CHFJPY TRADE SUGGESTION- BUY AT 121.610, TAKE PROFIT AT 121.647 AND STOP LOSS AT 121.607 GBPCAD TRADE SUGGESTION- SELL AT 1.70536, TAKE PROFIT AT 1.70425 AND STOP LOSS AT 1.70724 CAC 40 TRADE SUGGESTION- BUY AT 6401.8 TAKE PROFIT AT 6417.7 AND STOP LOSS AT 6393.3 WTI CRUDE OIL TRADE SUGGESTION- BUY AT 66.31 TAKE PROFIT AT 66.48 AND STOP LOSS AT 66.09 GOLD TRADE SUGGESTION- BUY AT 1905.58, TAKE PROFIT AT 1913.98 AND STOP AT 1900.38 ETHEREUM TRADE SUGGESTION- BUY AT 2878.22 TAKE PROFIT AT 2919.69 AND STOP AT 2845.49
TECHNICAL ANALYSIS REPORT TODAY – 31 MAY 2021 Asia Pacific stocks were mostly down Monday morning. The Shanghai composite is up 0.15% at 3,606.15. Overall, the Singapore MSCI down 0.43% at 358.65. Over in Hong Kong, the Hang Seng Index down 0.54% to 28,831. In Japan, the Nikkei 225 down 0.52% at 28,970, while the Topix index is down 1.00% at 1928.5. South Korea’s Kospi up 0.48% to 3203.92. Australia S&P/ASX 200 down 0.25% at 7161.6. European equities Friday closing. The DAX futures contract in Germany traded 0.02% up at 15488.60, CAC 40 futures up 0.75% at 6484.12 and the UK 100 futures contract in the U.K. down 0.22% at 7,014.6. In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.21% at 34535.91 the S&P 500 up 0.08% to 4204.12 and the Nasdaq 100 up 0.06% at 13700.3, NYSE closes at 16555.65 up 0.14%. In the Forex market, GBPUSD flat at 1.41804. The USDJPY down 0.05% at 109.77. The USDCHF up 0.03% at 0.90011. EURUSD down 0.03% at 1.21877, EUR/GBP up 0.07% at 0.85944. The USD/CNY up 0.01% at 6.3679, at the time of writing. In the commodity market U.S. Gold futures up 0.11% at $1,904.82. Elsewhere, Silver futures up 0.09% to $27.920 per ounce, Platinum up 0.57% at $1184.17 per ounce, and Palladium up 0.50% to $2,839.50. Crude Oil mix on Monday; Brent crude oil up 0.38% to $69.24 barrel while U.S. West Texas Intermediate (CLc1) is down 0.66% at $66.61. In the Cryptocurrency Markets, BTCUSD at 34987.88 down 1.93%, Ethereum at 2385.39 down 0.19%, Litecoin at 168.50 down 1.12%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: Top 5 Stock NVIDIA Corp. up 4.884% at $649.78, EBAY Inc. up 2.613% at $60.88, HP Inc. down 8.941% to $29.23, GAP Inc. down 4.836% to $33.45, ZOOM VIDEO Comm. up 1.562% to $331.53, DOLLAR TREE Inc. down 2.607% at $97.50. Economic news: US: Negotiations with U.S. President Joe Biden over a potentially massive infrastructure investment package are inching forward even though disagreements remain over the size and scope of such legislation, Republican Senator Shelley Moore Capito said on Sunday. “I think we can get to real compromise, absolutely, because we’re both still in the game,” Capito said in an interview with “Fox News Sunday.” Capito leads a group of six Senate Republicans who have been in regular contact with Biden and White House aides over a bill the administration wants to move through Congress promptly. The Republican senators have proposed $928 billion to improve roads, bridges and other traditional infrastructure projects. Much of the funding would come from money already enacted into law for other purposes that they argue is unused. The Biden administration’s latest offer in negotiations is for $1.7 trillion and would include federal spending on projects that go beyond traditional infrastructure, such as home care for the elderly. Eurozone: A planned reform of the euro zone’s bailout fund poses substantial risks for Germany’s state budget, its federal audit office says in a confidential report, broadcaster ZDF reported on Sunday. Euro zone finance ministers agreed in November to widen the responsibilities of the fund, known as the European Stability Mechanism (ESM), to strengthen the resilience of the common currency area amid worries that the COVID-19 pandemic increased risks of future economic trouble. The changes will allow the ESM to lend to the euro zone’s bank resolution fund to wind down failing banks if, in a banking crisis, the fund runs out of its own money. That would result in “banking risks being communalised at the public funds level,” ZDF quoted the report as saying, which means that the audit office is concerned that the state would have to pay in cases of banking crisis. Important Data: JAPAN Capital Spending (YoY) (Q1) today at 19:50 previously which was -4.8%. EURO ZONE Private Sector Loans (YoY) today at 4:30 previously which was 3.3%. AUSTARLIA Manufacturing PMI today at 19:00 previously which was 59.9. CANADA RMPI (MoM) (Apr) today at 8:30 previously which was 2.3%. TECHNICAL SUMMARY GBPUSD TRADE SUGGESTION- BUY AT 1.41782, TAKE PROFIT AT 1.42036 AND STOP LOSS AT 1.41600 EURUSD TRADE SUGGESTION- BUY AT 1.21926, TAKE PROFIT AT 1.22065 AND STOP LOSS AT 1.21786 USDJPY TRADE SUGGESTION- BUY AT 109.658, TAKE PROFIT AT 109.934 AND STOP LOSS AT 109.463 USDCHF TRADE SUGGESTION- SELL AT 0.90062, TAKE PROFIT AT 0.90000 AND STOP LOSS AT 0.90157 NIKKEI 225 TRADE SUGGESTION- BUY AT 28993 TAKE PROFIT AT 29117 AND STOP LOSS AT 28873 WTI CRUDE OIL TRADE SUGGESTION- BUY AT 67.13 TAKE PROFIT AT 67.29 AND STOP LOSS AT 66.97 GOLD TRADE SUGGESTION- BUY AT 1904.57, TAKE PROFIT AT 1907.63 AND STOP AT 1902.21 BTCUSD TRADE SUGGESTION- SELL AT 35791.35 TAKE PROFIT AT 34701.91 AND STOP AT 36463.00
TECHNICAL ANALYSIS REPORT TODAY – 01 JUNE 2021 Asia Pacific stocks were mostly up Tuesday morning. The Shanghai composite is up 0.19% at 3,622.32. Overall, the Singapore MSCI up 0.26% at 360.50. Over in Hong Kong, the Hang Seng Index up 0.96% to 29,235. In Japan, the Nikkei 225 down 0.72% at 28,760, while the Topix index is down 0.44% at 1920.0. South Korea’s Kospi up 0.56% to 3221.87. Australia S&P/ASX 200 down 0.27% at 7142.6. European equities Monday closing. The DAX futures contract in Germany traded 0.64% down at 15421.38, CAC 40 futures down 0.57% at 6447.18 and the UK 100 futures contract in the U.K. up 0.44% at 7,022.71. In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.21% at 34535.91 the S&P 500 up 0.08% to 4204.12 and the Nasdaq 100 up 0.23% at 13709.3, NYSE closes at 16555.65 up 0.14%. In the Forex market, GBPUSD up 0.17% at 1.42292. The USDJPY down 0.06% at 109.45. The USDCHF up 0.03% at 0.89873. EURUSD up 0.05% at 1.22306, EUR/GBP down 0.01% at 0.85953. The USD/CNY up 0.01% at 6.3706, at the time of writing. In the commodity market U.S. Gold futures up 0.42% at $1,914.90. Elsewhere, Silver futures up 1.18% to $28.353per ounce, Platinum up 0.47% at $1192.54 per ounce, and Palladium up 0.97% to $2,860.00. Crude Oil mix on Tuesday; Brent crude oil up 1.22% to $70.28 barrel while U.S. West Texas Intermediate (CLc1) is down 0.66% at $66.61. In the Cryptocurrency Markets, BTCUSD at 36764.48 down 1.55%, Ethereum at 2645.03 down 2.30%, Litecoin at 183.58 down 2.51%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: Top 5 Stock NVIDIA Corp. up 4.884% at $649.78, EBAY Inc. up 2.613% at $60.88, HP Inc. down 8.941% to $29.23, GAP Inc. down 4.836% to $33.45, ZOOM VIDEO Comm. up 1.562% to $331.53, DOLLAR TREE Inc. down 2.607% at $97.50. Economic news: US: U.S. Customs and Border Protection on Friday imposed a new import ban on seafood from a Chinese fishing fleet that the agency says is using forced labor on its 32 vessels, including abuses against many Indonesian workers. The CBP said it will immediately detain tuna, swordfish and other products from the Dalian Ocean Fishing Co Ltd at U.S. ports of entry. The “withhold release order” banning the imports also applies to other end-use products containing seafood from the company, such as canned tuna and pet food, a CBP official said. Department of Homeland Security Secretary Alejandro Mayorkas said the action marks the first time the CBP has banned imports from an entire fishing fleet, as opposed to the individual vessels targeted in the past. “DHS will continue to aggressively investigate the use of forced labor by distant water fishing vessels, and by a wide range of other industries,” Mayorkas told a news briefing. “Producers and U.S. importers alike should understand that there will be consequences for entities that attempt to exploit workers to sell goods in the United States.” Eurozone: The European Union (EU) is set to unveil plans for a bloc-wide digital wallet on Wednesday, following requests from member states to find a safe way for citizens to access public and private services online, the Financial Times reported. The app will allow citizens across the EU to securely access a range of private and public services with a single online ID, according to the FT report on Tuesday. The digital wallet will securely store payment details and passwords and allow citizens from all 27 countries to log onto local government websites or pay utility bills using a single recognised identity, the newspaper said, citing people with direct knowledge of the plans. The EU-wide app can be accessed via fingerprint or retina scanning among other methods, and will also serve as a vault where users can store official documents like the driver’s licence, the newspaper reported. Important Data: German Manufacturing PMI (May) today at 3:55 this time estimated 64.0, previously which was 66.2. UK Manufacturing PMI (May) today at 4:30 this time estimated 66.1, previously which was 66.1. EURO ZONE CPI (YoY) (May) today at 5:00 this time estimated 1.9%, previously which was 1.6%. AUSTRALIA GDP (QoQ) (Q1) today at 21:30 previously which was 3.1%. TECHNICAL SUMMARY GBPUSD TRADE SUGGESTION- BUY AT 1.42245, TAKE PROFIT AT 1.42854 AND STOP LOSS AT 1.41625 EURUSD TRADE SUGGESTION- BUY AT 1.22265, TAKE PROFIT AT 1.22382 AND STOP LOSS AT 1.22186 EURGBP TRADE SUGGESTION- SELL AT 0.85884, TAKE PROFIT AT 0.85732 AND STOP LOSS AT 0.86041 EURJPY TRADE SUGGESTION- BUY AT 133.865, TAKE PROFIT AT 133.956 AND STOP LOSS AT 133.806 DAX 30 TRADE SUGGESTION- BUY AT 15533.5 TAKE PROFIT AT 15546.3 AND STOP LOSS AT 15515.3 WTI CRUDE OIL TRADE SUGGESTION- BUY AT 67.76 TAKE PROFIT AT 68.51 AND STOP LOSS AT 66.27 GOLD TRADE SUGGESTION- BUY AT 1913.82, TAKE PROFIT AT 1914.63 AND STOP AT 1913.00 LITECOINUSD TRADE SUGGESTION- SELL AT 182.55 TAKE PROFIT AT 176.37 AND STOP AT 189.02
TECHNICAL ANALYSIS REPORT TODAY – 02 JUNE 2021 Asia Pacific stocks were mostly up Wednesday morning. The Shanghai composite is down 1.07% at 3,586.06. Overall, the Singapore MSCI down 1.24% at 358.15. Over in Hong Kong, the Hang Seng Index down 0.53% to 29,192. In Japan, the Nikkei 225 up 0.66% at 28,950, while the Topix index is up 1.15% at 1942.0. South Korea’s Kospi up 0.01% to 3220.89. Australia S&P/ASX 200 up 0.99% at 7213.3. European equities Tuesday closing. The DAX futures contract in Germany traded 0.95% up at 15567.36, CAC 40 futures up 0.66% at 6489.41 and the UK 100 futures contract in the U.K. up 0.11% at 7,083.50. In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.01% at 34575.32 the S&P 500 down 0.05% to 4202.03 and the Nasdaq 100 down 0.05% at 13645.6, NYSE closes at 16643.32 up 0.53%. In the Forex market, GBPUSD up 0.06% at 1.41542. The USDJPY up 0.24% at 109.73. The USDCHF up 0.07% at 0.89773. EURUSD down 0.01% at 1.22118, EUR/GBP flat at 0.86285. The USD/CNY up 0.08% at 6.3869, at the time of writing. In the commodity market U.S. Gold futures down 0.09% at $1,898.20. Elsewhere, Silver futures down 0.39% to $27.757 per ounce, Platinum down 0.71% at $1186.13 per ounce, and Palladium down 0.51% to $2,846.00. Crude Oil mix on Wednesday; Brent crude oil down 0.11% to $70.52 barrel while U.S. West Texas Intermediate (CLc1) is up 1.83% at $67.83. In the Cryptocurrency Markets, BTCUSD at 36845.25 up 0.41%, Ethereum at 2645.00 up 0.41%, Litecoin at 183.03 up 0.09%, at the time of writing. TOP STOCKS TO WATCH OUT TODAY: Top 5 Stock HESS Corp. up 4.713% at $87.77, NUCOR Corp. up 7.997% at $110.74, INVESCO Ltd. down 4.697% to $27.19, EBAY Inc. up 0.805% to $61.37, BAIDU Inc. up 2.828% to $201.82, ADOBE Inc. down 1.718% at $495.91. Economic news: US: The U.S. Securities and Exchange Commission (SEC) chair said on Tuesday the agency will review shareholder voting rule changes adopted under the administration of former President Donald Trump that have faced criticism for weakening investor power. Gary Gensler, appointed by Democratic U.S. President Joe Biden, said the regulator would consider drafting a new proposal for overseeing proxy advisers – firms that recommend to investors on how to vote in corporate elections and cast ballots on behalf of some asset managers. As proxy advisers have grown more influential on hot button corporate governance issues such as climate change, compensation and diversity in recent years, corporate lobbyists have pushed for greater oversight of the firms. In August 2019, the SEC issued guidance requiring proxy voting firms take more steps to disclose how they craft their shareholder recommendations. The agency also outlined steps that the firms should consider to ensure they are actually voting the way investors designate. Eurozone: The European Commission is set to borrow about 80 billion euros ($97.76 billion) this year in long-term bonds to finance the European Union’s plan for economic revival after the pandemic, the EU executive said in a statement on Tuesday. The Commission said the borrowing, to begin later in June, would be topped up with tens of billions of euros of short-term EU-Bills to cover the remaining financing requirements, adding it would update its funding plan in September. “The Commission will be able to fund, over the second half of the year, all planned grants and loans to member states under the Recovery and Resilience Facility, as well as cover the needs of the EU policies that receive NextGenerationEU funding,” the Commission said in a statement. The money is the first part of the EU’s landmark scheme of 800 billion euros, in current prices, that is be distributed to all 27 governments of the bloc in grants and loans. To get its share of the cash, each government has to submit to the Commission a plan of reforms and investment that will focus on making the economy greener and more digital and boosting its resilience to future health crises. Important Data: US API Weekly Crude Oil Stock today at 16:30 previously which was -0.439M. JAPAN Services PMI (May) today at 20:30 previously which was 49.5. AUSTRALIA Retail Sales (MoM) (Apr) today at 21:30 this time estimated 1.1%, previously which was 1.1%. UK BoE Gov Bailey Speaks today at 11:00. TECHNICAL SUMMARY GBPUSD TRADE SUGGESTION- SELL AT 1.41383, TAKE PROFIT AT 1.41263 AND STOP LOSS AT 1.41484 EURUSD TRADE SUGGESTION- SELL AT 1.22035, TAKE PROFIT AT 1.21779 AND STOP LOSS AT 1.22324 GBPJPY TRADE SUGGESTION- BUY AT 155.216, TAKE PROFIT AT 155.316 AND STOP LOSS AT 154.771 CHFJPY TRADE SUGGESTION- BUY AT 122.185, TAKE PROFIT AT 122.227 AND STOP LOSS AT 122.152 CAC 40 TRADE SUGGESTION- BUY AT 6485.1 TAKE PROFIT AT 6501.6 AND STOP LOSS AT 6480.2 WTI CRUDE OIL TRADE SUGGESTION- BUY AT 67.81 TAKE PROFIT AT 67.98 AND STOP LOSS AT 67.75 GOLD TRADE SUGGESTION- BUY AT 1899.65, TAKE PROFIT AT 1902.30 AND STOP AT 1895.66 ETHEREUM TRADE SUGGESTION- SELL AT 2700.52 TAKE PROFIT AT 2692.82 AND STOP AT 2749.45
