Daily Technical Analysis Report – 25 February 2021 | Forex News | Capital Street FX

 Technical Analysis

Asian stocks perked up on Thursday after U.S. Federal Reserve Chair Jerome Powell reaffirmed interest rates would stay low. The Shanghai composite is up 0.91% at 3,597.20. Overall, the Singapore MSCI up 1.57% at 340.50. Over in Hong Kong, the Hang Seng Index up 1.50% to 30,145. In Japan, the Nikkei 225 up 1.75% at 30,160, while the Topix index is up 1.37% at 1928.0. South Korea’s Kospi up 2.26% to 3062.59. Australia S&P/ASX 200 up 0.95% at 6842.2.

European equities Wednesday closing. The DAX futures contract in Germany traded 0.80 up at 13976.00, CAC 40 futures up 0.31% at 5798.0 and the UK 100 futures contract in the U.K. up 0.50% at 6,659.0.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.35% up at 31961.9 the S&P 500 up 1.14% to 3925.4 and the Nasdaq 100 up 0.06% at 13323.0, NYSE closes at 15539.41 up 1.17%.

In the Forex market, GBPUSD up 0.01% at 1.41398. The USDJPY up 0.16% at 106.01. The USDCHF up 0.01% at 0.9066. EURUSD up 0.03% at 1.21649, EUR/GBP up 0.03% at 0.86028. The USD/CNY down 0.01% at 6.4548, at the time of writing.

In the commodity market U.S Gold futures down 0.44% at $1,796.70. Elsewhere, Silver futures down 0.27% to $27.987per ounce, Platinum down 0.57% at $1259.81 per ounce, and Palladium down 0.10% to $2,437.00.

Crude Oil mix on Thursday; Brent crude oil down 0.06% to $67.20 barrel while U.S. West Texas Intermediate (CLc1) is up 0.26% at $58.72.

In the Cryptocurrency Markets, BTCUSD at 50184.00 up 0.86%, Ethereum at 1598.16 down 1.68%, Litecoin at 180.28 down 0.91%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

BOEING Co. up 8.118% at $229.34, EBAY Inc. down 3.243% at $59.38, INTEL Corp. up 3.387% to $63.19, MICRON Tech. up 4.862% to $92.52, BAIDU Inc. down 9.619% to $167.53, TESLA Inc. up 6.179% at $742.02.

Economic news:

US: President Joe Biden said on Wednesday he would seek funding for legislation to supercharge chip manufacturing in the United States as a shortfall of semiconductors has forced U.S. automakers and other manufacturers to cut production.

Biden also signed an executive order on Wednesday aimed at addressing the global semiconductor chip shortage that has alarmed the White House and members of Congress, administration officials said.

The scarcity, exacerbated by the pandemic, was also the subject of a discussion between Biden and a bipartisan group of U.S. lawmakers at the White House on Wednesday.

Eurozone: British finance minister Rishi Sunak should follow the lead of the United States by announcing a 100-billion-pound stimulus push in next week’s budget to fuel an economic recovery from the COVID-19 pandemic, a think tank said on Thursday.

Sunak, who is due to announce a new budget plan on March 3, has already racked up more than 280 billion pounds ($395 billion) in coronavirus spending and tax cuts, pushing Britain’s borrowing to its highest since World War Two.

The Resolution Foundation said Sunak should extend emergency support for businesses and workers and announce a new round of stimulus measures to alleviate unemployment, boost green investment and help retailers.

Important Data: US Core Durable Goods Orders (MoM) (Jan) today at 8:30 this time estimated 0.7%, previously which was 1.1%. US GDP (QoQ) (Q4)   today at 8:30 this time estimated 4.2%, previously which was 4%. US Initial Jobless Claims today at 8:30 this time estimated 838K, previously which was 861K. AUSTRALIA Trade Balance (YoY) (Jan) today at 16:45 previously which was 2940M.

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