Technical Analysis Report – 23 February 2021 | Forex News | Capital Street FX

 

Technical Analysis – Asian stocks rebounded from two-week lows struck on Tuesday as rising commodity prices boosted market expectations of an improved growth outlook, a day after rising U.S. Treasury yields and inflation prospects hit U.S. tech shares. The Shanghai composite is up 0.40% at 3,656.59. Overall, the Singapore MSCI up 0.53% at 332.55. Over in Hong Kong, the Hang Seng Index up 2.37% to 30,789. In Japan, the Nikkei 225 flat at 30,060, while the Topix index is flat at 1937.5. South Korea’s Kospi down 0.10% to 3076.69. Australia S&P/ASX 200 up 0.86% at 6839.2.

European equities Monday closing. The DAX futures contract in Germany traded 0.31% down at 13950.04, CAC 40 futures down 0.11% at 5767.4 and the UK 100 futures contract in the U.K. down 0.18% at 6,612.2.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.09% up at 31521.7 the S&P 500 down 0.77% to 3876.5 and the Nasdaq 100 down 2.63% at 13223.7, NYSE closes at 15340.47 down 0.14%.

In the Forex market, GBPUSD up 0.15% at 1.40825. The USDJPY down 0.02% at 105.04. The USDCHF down 0.04% at 0.89566. EURUSD up 0.14% at 1.21708, EUR/GBP down 0.01% at 0.86417. The USD/CNY down 0.06% at 6.4583, at the time of writing.

In the commodity market U.S Gold futures up 0.19% at $1,812.52. Elsewhere, Silver futures down 0.06% to $28.110 per ounce, Platinum up 0.07% at $1275.00 per ounce, and Palladium up 0.10% to $2,405.50.

Crude Oil up on Tuesday; Brent crude oil up 1.03% to $66.48 barrel while U.S. West Texas Intermediate (CLc1) is up 0.70% at $58.58.

In the Cryptocurrency Markets, BTCUSD at 49625.96 down 8.39%, Ethereum at 1610.50 down 9.50%, Litecoin at 187.26 down 10.08%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

DISCOVERY Inc. up 7.477% at $46, APACHE Corp. up 5.882% at $19.08, TESLA Inc. down 8.55% to $714.5, ETSY Inc. down 6.226% to $213.12, MICRON Tech. down 5.145% to $86.28, ZOOM Video Co. down 5.493% at $394.34.

Economic news:

US: The U.S. House of Representatives Budget Committee on Monday approved legislation with $1.9 trillion in new coronavirus relief, advancing a top priority of President Joe Biden toward a full House vote on passage expected later this week.

The measure passed the panel on a largely party-line vote of 19-16, as the U.S. death toll from the coronavirus pandemic surpassed the grim benchmark of 500,000 victims. Millions more have been left jobless by the pandemic.

The sweeping legislation is intended to stimulate the U.S. economy and carry out Biden’s proposals to provide additional money for COVID-19 vaccines and other medical equipment.

Eurozone: It is premature to write off big cities such as London which will bounce back strongly as the pandemic wanes, British Prime Minister Boris Johnson said on Monday after unveiling a plan that will keep offices deserted for months more.

The COVID-19 pandemic triggered a sweeping reassessment of urban life and work, with some predicting that the world’s premier financial centres such as New York, London, Shanghai and Tokyo could seep capital and talent and ultimately decline.

Counting houses and skyscrapers across London’s skyline — from the hedge funds of Mayfair and the lawyers’ chambers of Holborn to the trading floors of the City and Canary Wharf — have emptied during almost a year of restrictions.

Big banks, law firms and investment funds sent all but a skeleton staff home months ago, leaving one of the world’s biggest global financial capitals without its bustle.

Important Data: UK Claimant Count Change (Jan) today at 2:00 this time estimated 4.1%, previously which was 3.6%. EUROZONE CPI (YoY) (Jan) today at 5:00 this time estimated 0.9%, previously which was -0.3%. US API Weekly Crude Oil Stock today at 16:00 previously which was -5.8M. AUSTRALIA  Construction Work Done (QoQ) (Q4) today at 19:30 this time estimated 1.0%, previously which was -2.6%.

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