Daily Technical Analysis | Forex News | Technical Analysis Report 08-February-2021

Daily Technical Analysis | Forex News | Technical Analysis Report 08-February-2021 - Capital Street FX

February 08, 2021

Asia Pacific stocks were up on Monday morning. The Shanghai composite is up 1.00% at 3,530.86. Overall, the Singapore MSCI up 1.16% at 332.25. Over in Hong Kong, the Hang Seng Index up 0.10% to 29,298. In Japan, the Nikkei 225 up 1.88% at 29,350, while the Topix index is up 1.48% at 1921.5. South Korea’s Kospi down 0.72% to 3096.11. Australia S&P/ASX 200 up 0.59% at 6880.7.

European equities Friday closing. The DAX futures contract in Germany traded 0.03% down at 14056.72, CAC 40 futures up 0.90% at 5659.3 and the UK 100 futures contract in the U.K. down 0.22% at 6,489.3.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.30% up at 31148.2 the S&P 500 up 0.39% to 3886.8 and the Nasdaq 100 up 0.32% at 13604.0, NYSE closes at 15069.60 up 0.63%.

In the Forex market, GBPUSD up 0.01% at 1.37295. The USDJPY up 0.18% at 105.506. The USDCHF up 0.09% at 0.89963. EURUSD down 0.09% at 1.20384, EUR/GBP up 0.07% at 0.87680. The USD/CNY down 0.15% at 6.4569, at the time of writing.

In the commodity market U.S. Gold futures up 0.12% at $1,814.87. Elsewhere, Silver futures up 0.53% to $27.039 per ounce, Platinum up 1.78% at $1142.43 per ounce, and Palladium down 0.09% to $2,347.5.

Crude Oil up on Monday; Brent crude oil up 0.52% to $59.88 barrel while U.S. West Texas Intermediate (CLc1) is up 0.78% at $56.64.

In the Cryptocurrency Markets, BTCUSD at 39171.34 up 0.84%, Ethereum at 1632.05 up 1.03%, Litecoin at 151.82 up 0.42%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 4.655% at $231.12, STARBUCKS Corp. up 2.74% at $106.48, ZOOM VIDEO Corp. up 7.593% to $419.59, QUALCOMM Inc. down 1.44% to $145.84, NIKE Inc. up 3.186% to $145.11, COCA-COLA Inc. up 1.306% at $49.65.

Economic news:

US: U.S. Treasury Secretary Janet Yellen said on Sunday that American workers who earn $60,000 per year should receive stimulus checks as part of the White House’s proposed $1.9 trillion coronavirus relief package.

“The exact details of how it should be targeted are to be determined, but struggling middle class families need help,” Yellen said on CNN’s “State of the Union.”

The White House has said it is open to negotiation on who should be eligible to receive the proposed $1,400 checks, and has declined to specify where it thinks the income cut-off should be.

“President (Joe) Biden is certainly willing to work with members of Congress to define what’s fair and he wouldn’t want to see a household making over $300,000 receive these payments,” Yellen said, without offering further detail.

Eurozone: Exports from Britain to the European Union fell by 68% in January as trade was disrupted after the end of a transition period following Britain’s departure from the European Union, according to a trade body representing hauliers.

The government did not confirm the data and said disruption at the border had been minimal since Britain completed its journey out of the EU’s orbit at the of 2020 following an agreement on trading arrangements.

Since the start of the year, businesses and hauliers have had to adapt to new trading arrangements, including new systems for companies and officials in the British province of Northern Ireland.

Some businesses have struggled with new customs declarations and health certificates as the coronavirus pandemic also hits firms.

Important Data: German Industrial Production (MoM) (Dec) today at 2:30 this time estimated 0.3%, previously which was 0.9%. UK BRC Retail Sales Monitor (YoY) (Jan) today at 19:01 previously which was 4.8%. US CB Employment Trends Index (Jan) today at 10:00 previously which was 99.01. JAPAN M2 Money Stock (YoY) today at 18:50 previously which was at 9.0%.

TECHNICAL SUMMARY

GBPUSD