Financial Markets and Stock Market Technical Analysis – 02 April 2021

 Stock Market Technical Analysis – Asian markets were set to open higher on Friday in a holiday-lightened trading session. The Shanghai composite is up 1.54% at 3,471.02. Overall, the Singapore MSCI up 1.97% at 364.40. Over in Hong Kong, the Hang Seng Index up 0.40% to 28,931. In Japan, the Nikkei 225 up 2.54% at 29,840, while the Topix index is down 0.15% at 1970.0. South Korea’s Kospi up 2.32% to 3111.61. Australia S&P/ASX 200 up 0.07% at 6828.7.

European equities Thursday closing. The DAX futures contract in Germany traded up 2.43% at 15107.17, CAC 40 futures up 1.91% at 6103.0 and the UK 100 futures contract in the U.K. down 0.05% at 6,737.3.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.24% up at 33153.2, the S&P 500 up 1.14% to 4019.9 and the Nasdaq 100 up 3.01% at 13365.0, NYSE closes at 15752.24 up 0.44%.

In the Forex market, GBPUSD up 0.43% at 1.38403. The USDJPY up 0.77% at 110.516. The USDCHF up 0.29% at 0.94162. EURUSD down 0.14% at 1.17762, EUR/GBP down 0.48% at 0.85077. The USD/CNY up 0.30% at 6.5608, at the time of writing.

In the commodity market U.S Gold futures up 0.24% at $1,734.97. Elsewhere, Silver futures down 0.40% to $24.946 per ounce, Platinum up 2.32% at $1211.98 per ounce, and Palladium down 0.30% to $2,667.00.

Crude Oil up on Friday; Brent crude oil up 0.42% to $64.64 barrel while U.S. West Texas Intermediate (CLc1) is up 0.47% at $61.81.

In the Cryptocurrency Markets, BTCUSD at 59485.35 up 6.62%, Ethereum at 1991.66 up 18.09%, Litecoin at 204.27 up 10.81%, at the time of writing.


HESS Corp. up 5.257% at $74.48, TERADYNE Inc. up 5.86% at $128.81, MICRON TECH. up 4.761% at $92.41, TESLA Inc. down 0.925% at $661.75, MICROSOFT Corp. up 2.791% at $242.35, VISA Inc. up 2.423% at $216.86, APPLE Inc. down 0.696% at $123.00, BOEING Inc. down 0.696% at $252.96.

Economic news:

US: U.S. employers likely stepped up hiring in March amid increased vaccinations and more pandemic relief money from the government, which would cement expectations for a boom that could push this year’s economic growth to the strongest since 1984.

The Labour Department’s closely watched employment report on Friday is also expected to show people, mostly women, wading back into the labour market, drawn by those brightening economic prospects. But the labour market is hardly out of the woods yet, with the job’s deficit still huge and long-term unemployment becoming entrenched.

“The economy is on fire, fuelled by vaccines and government stimulus,” said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles. “All the stars are lined up to surprise us on the upside.”

Nonfarm payrolls likely surged by 647,000 jobs last month after increasing by 379,000 in February, according to a Reuters survey of economists. That would be the biggest gain since October. Estimates ranged from as low as 115,000 to as high as 1.1 million jobs.

Friday’s report marks a painful anniversary for the labour market. The March 2020 employment report was the first to reflect the mandatory closures of non-essential businesses such as restaurants, bars and gyms to slow the onset of the just-emerging COVID-19 pandemic. Nearly 1.7 million jobs were lost that month, and another 20.7 million would vanish the next.

Eurozone: Europe should match the ambition shown by the United States with its huge new economic stimulus, French Finance Minister Bruno Le Maire said on Thursday.

The new administration of U.S. President Joe Biden is already making payments to households under a new $1.9 trillion COVID-19 relief package and plans to plough $2.3 trillion into infrastructure investments to fire up the world’s biggest economy.

“Whatever we may think about it, the American stimulus plan shows ambition, and the return of U.S. ambition is a good thing,” Le Maire said in a speech at the Geneva Graduate Institute.

“The best response to U.S. ambition isn’t to fight it. It is to match it. Europe needs to challenge itself like America does,” he added.

While European countries’ support for their economies last year was on par with that seen in the United States, the new U.S. stimulus dwarves the European Union’s 750 billion euro ($881 billion) economic recovery plan.

Though the 27-nation bloc agreed the landmark stimulus fund last summer, EU governments are still submitting detailed plans on how they aim to spend money from the fund, which many still need to ratify.

Important Data: US Nonfarm Payrolls (Mar) today at 8:30 this time estimated 647K, previously which was 379K. US Unemployment Rate (Mar) today at 8:30 this time estimated 6.0%, previously which was 6.2%. US Government Payrolls (Mar) today at 8:30 previously which was -86K. US Average Hourly Earnings (YoY) (YoY) (Mar) today at 8:30 this time estimated 4.5%, previously which was 5.3%.


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