Technical Analysis Report 11 February 2021 | Forex Technical Analysis By Capital Street Fx

 

Asian shares rested at record highs on Thursday as investors digested recent meaty gains. The Shanghai composite is up 1.43% at 3,644.08. Overall, the Singapore MSCI down 0.13% at 333.00. Over in Hong Kong, the Hang Seng Index up 0.64% to 30,134. In Japan, the Nikkei 225 down 0.41% at 29,300, while the Topix index is down 0.08% at 1920.5. South Korea’s Kospi up 0.52% to 3100.58. Australia S&P/ASX 200 down 0.10% at 6850.1.

European equities Wednesday closing. The DAX futures contract in Germany traded 0.56% down at 13932.97, CAC 40 futures up 0.36% at 5670.8 and the UK 100 futures contract in the U.K. down 0.11% at 6,524.4.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.20% up at 31437.8 the S&P 500 down 0.03% to 3909.9 and the Nasdaq 100 down 0.12% at 13657.3, NYSE closes at 15273.89 up 0.19%.

In the Forex market, GBPUSD up 0.12% at 1.38473. The USDJPY flat at 104.58. The USDCHF down 0.04% at 0.88981. EURUSD up 0.09% at 1.21280, EUR/GBP up 0.01% at 0.87583. The USD/CNY down 0.03% at 6.4557, at the time of writing.

In the commodity market U.S. Gold futures down 0.33% at $1,837.03. Elsewhere, Silver futures down 0.50% to $26.86 per ounce, Platinum up 0.05% at $1241.18 per ounce, and Palladium down 0.76% to $2,350.0.

Crude Oil mix on Thursday; Brent crude oil down 0.02% to $61.13 barrel while U.S. West Texas Intermediate (CLc1) is up 0.26% at $57.72.

In the Cryptocurrency Markets, BTCUSD at 44805.99 down 0.11%, Ethereum at 1725.18 down 0.93%, Litecoin at 181.24 down 0.31%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TWITTER Inc. up 13.195% at $67.77, DISCOVERY Inc. up 3.609% at $45.07, FINSERV Inc. down 3.552% to $109.42, CME GROUP Inc. down 3.527% to $185.2, TESLA Inc. down 5.255% to $804.82, NVIDIA. Corp. up 3.513% at $590.57.

Economic news:

US: Neera Tanden, Democratic President Joe Biden’s nominee to head the U.S. Office of Management and Budget, told U.S. senators on Wednesday she would support raising the federal minimum wage, without giving a target for a higher rate.

“Absolutely,” she said at a confirmation hearing before the Senate Budget Committee after the panel’s chairman, Senator Bernie Sanders, asked her if she would help move to end “starvation wages” in the country “by raising the minimum wage over a period of several years.”

Tanden said recent studies had challenged the conventional view about the impact of minimum wage increases on jobs and determined that job loss rates due to such raises were “relatively low.”

Eurozone: Euro zone states must keep fiscal spending up this year and into 2022 to protect the bloc from permanent damage caused by the coronavirus pandemic, European Central Bank President Christine Lagarde said in an online interview with the Economist on Wednesday.

Lagarde also called on European Union leaders to kick start the bloc’s 750-billion-euro Next Generation EU spending package as some economic restrictions could remain in place until the second half of the year.

Important Data: US Initial Jobless Claims today at 8:30 this time estimated 757K, previously which was 779K. RUSSIA Central Bank reserves (USD) today at 8:00 previously which was 589.5B. NEW ZEALAND Business NZ PMI (Jan) today at 16:30 previously which was 48.7. JAPAN Foreign Bonds Buying today at 18:50 previously which was at 729.6B.

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