Daily Technical Analysis Report On 18 March 2021 | Forex News

 Asia Pacific stocks were mostly up Thursday morning. The Shanghai composite is up 0.27% at 3,454.97. Overall, the Singapore MSCI up 0.84% at 354.45. Over in Hong Kong, the Hang Seng Index up 1.53% to 29,433. In Japan, the Nikkei 225 up 1.08% at 30,030, while the Topix index is up 1.53% at 1992.0. South Korea’s Kospi up 0.62% to 3066.53. Australia S&P/ASX 200 down 0.73% at 6745.9.

European equities Wednesday closing. The DAX futures contract in Germany traded 0.27% up at 14596.61, CAC 40 futures down 0.01% at 6054.8 and the UK 100 futures contract in the U.K. down 0.60% at 6,762.7.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.58% up at 33015.4, the S&P 500 up 0.29% to 3974.1 and the Nasdaq 100 up 0.38% at 13202.4, NYSE closes at 15731.14 up 0.39%.

In the Forex market, GBPUSD up 0.02% at 1.39616. The USDJPY up 0.04% at 108.878. The USDCHF up 0.07% at 0.92308. EURUSD down 0.07% at 1.19687, EUR/GBP down 0.03% at 0.85724. The USD/CNY down 0.13% at 6.4947, at the time of writing.

In the commodity market U.S Gold futures up 0.37% at $1,750.90. Elsewhere, Silver futures up 1.08% to $26.530 per ounce, Platinum up 0.52% at $1220.78 per ounce, and Palladium up 0.99% to $2,600.50.

Crude Oil down on Thursday; Brent crude oil down 0.19% to $67.62 barrel while U.S. West Texas Intermediate (CLc1) is down 0.14% at $64.80.

In the Cryptocurrency Markets, BTCUSD at 58851.98 down 0.08%, Ethereum at 1825.48 up 0.23%, Litecoin at 206.91 up 0.53%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

GENERAL MOTORS up 5.13% at $60.05, DOW Inc up 4.479% at $66.01, UNITED AIRLINES up 4.414% at $62.45, COMCAST Corp. down 0.93% at $57.50, FACEBOOK Inc. at 1.694% at $284.01, AMGEN Inc. up 1.644% at $244.27, 3M Co. up 0.776% at $188.3.

Economic news:

US: The global economy is set to grow by 4.7% this year thanks to a stronger-than-expected recovery in the United States, a report by the U.N. Conference on Trade and Development (UNCTAD) said on Thursday, revising up its previous forecast of 4.3%.

The upwards revision from its previous forecast made last September factors in an expected boost in U.S. consumer spending on the back of progress distributing COVID-19 vaccines and a vast stimulus package, the report said.

“The global recovery that began in the third quarter of 2020 is expected to continue through 2021, albeit with a good deal of unevenness and unpredictability, reflecting epidemiological, policy and coordination uncertainties,” the report said.

Eurozone: The Bank of England will probably try on Thursday to keep a lid on expectations that Britain’s economy is heading for a strong, vaccine-boosted recovery after suffering its worst crash in three centuries last year.

The central bank is not expected to change its huge, crisis-fighting stimulus programme at 1200 GMT, after its March policy meetings.

Instead, investors will be trying to gauge how confident it is that Europe’s fastest COVID-19 vaccination campaign and yet more spending and tax cuts in finance minister Rishi Sunak’s March 3 budget will trigger a bounce-back in the months ahead.

BoE Governor Andrew Bailey said on Monday he was more optimistic about the recovery. But he stressed his view came “with a large dose of caution” with Britain still in the grip of a third lockdown and facing the risk of new COVID-19 variants.

Important Data: US Initial Jobless Claims today at 8:30 this time estimated 700K, previously which was 712K. AUSTRALIA Retail Sales (MoM) today at 20:30 previously which was 0.5%. UK BoE Interest Rate Decision (Mar) today at 8:00 this time estimated 0.1%, previously which was 0.1%. EURO ZONE Wages in euro zone (YoY) (Q4) today at 6:00 previously which was 2.2%.

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