Technical Analysis Report – 24 February 2021 | Forex News | Capital Street FX

 

Asia Pacific stocks were down Wednesday morning, even as Treasury yields steadied and the U.S. Federal Reserve pledged continued support for the U.S. economic recovery from COVID-19. The Shanghai composite is down 2.79% at 3,533.93. Overall, the Singapore MSCI up 1.07% at 334.40. Over in Hong Kong, the Hang Seng Index down 2.78% to 29,731. In Japan, the Nikkei 225 down 1.56% at 29,700, while the Topix index is down 1.73% at 1903.5. South Korea’s Kospi down 2.32% to 2997.38. Australia S&P/ASX 200 down 0.90% at 6777.8.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.61% down at 13864.81, CAC 40 futures up 0.22% at 5779.8 and the UK 100 futures contract in the U.K. up 0.21% at 6,625.9.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.05% up at 31537.4 the S&P 500 up 0.13% to 3881.4 and the Nasdaq 100 down 0.22% at 13194.7, NYSE closes at 15359.13 up 0.12%.

In the Forex market, GBPUSD up 0.32% at 1.41575. The USDJPY up 0.26% at 105.51. The USDCHF up 0.25% at 0.90718. EURUSD down 0.03% at 1.21455, EUR/GBP down 0.32% at 0.85788. The USD/CNY down 0.04% at 6.4615, at the time of writing.

In the commodity market U.S Gold futures up 0.05% at $1,806.28. Elsewhere, Silver futures down 0.3% to $27.531 per ounce, Platinum down 0.27% at $1234.00 per ounce, and Palladium up 0.40% to $2,360.00.

Crude Oil down on Wednesday; Brent crude oil down 0.08% to $65.00 barrel while U.S. West Texas Intermediate (CLc1) is down 0.02% at $58.57.

In the Cryptocurrency Markets, BTCUSD at 49714.32 up 1.70%, Ethereum at 1618.31 up 2.55%, Litecoin at 179.22 up 0.97%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NETFLIX Inc. up 2.317% at $546.15, FACEBOOK up 2.122% at $265.85, FINSERV Inc. up 1.976% to $115.5, WORKDAY Inc. down 2.503% to $290.25, MODERNA Inc. down 5.773% to $150.17, TESLA Inc. down 2.192% at $698.84.

Economic news:

US: The U.S. House of Representatives will vote on Friday on legislation to provide $1.9 trillion in new coronavirus relief, Representative Steny Hoyer, the chamber’s No. 2 Democrat, said.

“The American people strongly support this bill, and we are moving swiftly to see it enacted into law,” Hoyer said on Twitter on Tuesday.

The House Budget Committee approved the measure on Monday. Passing more relief to ease the economic effects of the pandemic is a top priority of Democratic President Joe Biden.

Although polls show Americans want more economic support, Democrats – who narrowly control Congress – and Republicans differ sharply over how best to provide it. The U.S. coronavirus death toll this week surpassed the grim benchmark of 500,000 victims. Millions more have been left jobless by the pandemic.

Eurozone: Britain has agreed to the European Union’s request to delay ratification of their post-Brexit trade agreement until April 30, cabinet office minister Michael Gove said on Tuesday.

Earlier this month, the EU asked Britain if it could take extra time to ratify the agreement by extending until April 30 provisional application of the deal to ensure it was in all 24 of the bloc’s languages for parliamentary scrutiny.

In a letter to Maros Sefcovic, vice president of the European Commission, Gove wrote: “I can confirm that the United Kingdom is content to agree that the date on which provisional application shall cease to apply … should be extended to 30 April 2021.”

Important Data: German GDP (QoQ) (Q4) today at 2:00 this time estimated 0.1%, previously which was 8.5%. US        New Home Sales (Jan) today at 10:00 this time estimated 855K, previously which was 842K. US Crude Oil Inventories today at 10:30 this time estimated -5.19M, previously which was -7.258M. AUSTRALIA Private New Capital Expenditure (QoQ) (Q4) today at 19:00 this time estimated 0.4%, previously which was -3.0%.

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