Technical Analysis of the Financial Markets | Technical Analysis 📉📈 Report

Technical Analysis of the Financial Markets | Technical Analysis 📉📈 Report – 26 February 2021📊

February 26, 2021

Asian stocks skidded to one-month lows on Friday as a rout in global bond markets sent yields flying. The Shanghai composite is down 2.29% at 3,502.75. Overall, the Singapore MSCI down 0.82% at 338.00. Over in Hong Kong, the Hang Seng Index down 3.07% to 29,042. In Japan, the Nikkei 225 down 3.81% at 29,040, while the Topix index is down 3.24% at 1869.0. South Korea’s Kospi down 3.36% to 2995.42. Australia S&P/ASX 200 down 2.35% at 6673.3.

European equities Thursday closing. The DAX futures contract in Germany traded 0.69% down at 13879.33, CAC 40 futures down 0.24% at 5783.9 and the UK 100 futures contract in the U.K. down 0.11% at 6,652.0.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.75% down at 31402.0 the S&P 500 down 2.45% to 3829.3 and the Nasdaq 100 down 0.66% at 12707.8, NYSE closes at 15206.66 down 2.14%.

In the Forex market, GBPUSD down 0.38% at 1.39524. The USDJPY up 0.05% at 106.19. The USDCHF up 0.11% at 0.9057. EURUSD down 0.11% at 1.21541, EUR/GBP up 0.43% at 0.87131. The USD/CNY up 0.21% at 6.4674, at the time of writing.

In the commodity market U.S Gold futures down 0.57% at $1,759.78. Elsewhere, Silver futures down 1.69% to $26.940 per ounce, Platinum down 0.30% at $1212.18 per ounce, and Palladium down 1.66% to $2,372.00.

Crude Oil mix on Friday; Brent crude oil down 1.12% to $66.28 barrel while U.S. West Texas Intermediate (CLc1) is up 9.78% at $64.46.

In the Cryptocurrency Markets, BTCUSD at 46150.00 down 2.01%, Ethereum at 1469.01 down 0.75%, Litecoin at 169.34 down 5.53%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TWITTER Inc. up 4.289% at $84.61, DOMINO’S Pizza down 7.019% at $339, NVIDIA Corp. down 8.218% to $532.3, TESLA Inc. down 8.059% to $682.22, MODERNA Inc. up 2.48% to $148.38, Intel Corp. down 4.415% at $60.4.

Economic news:

US: Federal Reserve policymakers are shrugging off the surge in longer-term U.S. government bond yields as a sign of growing optimism about the economy, which could pick up steam as more people are vaccinated against the coronavirus.

And none of the officials so far are signalling an interest in lightening up on the U.S. central bank’s accommodative monetary policy stance, even as the yield on the benchmark 10-year Treasury note on Thursday topped the 1.50% level for the first time in a year, sending stocks sharply lower. The 10-year yield has tripled since last August.

“Much of this increase likely reflects growing optimism in the strength of the recovery and could be viewed as an encouraging sign of increasing growth expectations,” Kansas City Fed President Esther George told farm executives in a virtual event on Thursday, adding to a chorus of similar remarks from other Fed officials in recent days.

Eurozone: British trade minister Liz Truss said on Thursday she would urgently seek a meeting with U.S. Trade Representative nominee Katherine Tai to discuss the removal of punitive tariffs.

Britain wants the United States to remove tariffs on exports like Scotch whisky which were imposed during its membership of the European Union as part of a long running dispute over aircraft subsidies.

Tai will appear at a confirmation hearing before the Senate Finance Committee on Thursday.

Important Data: French GDP (QoQ) (Q4) today at 2:45 this time estimated -1.3%, previously which was -1.3%. US Personal Spending (MoM) (Jan) today at 8:30 this time estimated 2.5%, previously which was 0.2%. CANADA RMPI (MoM) (Jan) today at 8:30 previously which was 3.5%. SWITZERLAND Employment Level (Q4) today at 2:30 previously which was 5.138M.

TECHNICAL SUMMARY

GBPUSD