Financial Markets & Stock Market Technical Analysis - 01 April 2021

 Technical Analysis – Asia Pacific stocks were up Thursday morning. The Shanghai composite is up 0.51% at 3,459.54. Overall, the Singapore MSCI down 0.01% at 357.90. Over in Hong Kong, the Hang Seng Index up 1.10% to 28,630. In Japan, the Nikkei 225 up 0.75% at 29,400, while the Topix index is up 0.15% at 1957.0. South Korea’s Kospi up 0.71% to 3083.13. Australia S&P/ASX 200 up 0.56% at 6828.7.

European equities Wednesday closing. The DAX futures contract in Germany traded flat at 15008.34, CAC 40 futures down 0.34% at 6067.2 and the UK 100 futures contract in the U.K. down 0.86% at 6,713.6.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.26% down at 32981.6, the S&P 500 up 0.36% to 3972.9 and the Nasdaq 100 up 1.51% at 13091.4, NYSE closes at 15601.73 down 0.16%.

In the Forex market, GBPUSD down 0.14% at 1.37586. The USDJPY up 0.07% at 110.751. The USDCHF up 0.18% at 0.94517. EURUSD down 0.07% at 1.17220, EUR/GBP up 0.16% at 0.85203. The USD/CNY up 0.28% at 6.5726, at the time of writing.

In the commodity market U.S Gold futures up 0.31% at $1,713.08. Elsewhere, Silver futures down 0.42% to $24.298 per ounce, Platinum up 0.02% at $1186.25 per ounce, and Palladium down 0.06% to $2,621.00.

Crude Oil mix on Thursday; Brent crude oil up 0.63% to $63.42 barrel while U.S. West Texas Intermediate (CLc1) is down 1.99% at $59.98.

In the Cryptocurrency Markets, BTCUSD at 58961.33 up 0.27%, Ethereum at 1916.32 down 0.10%, Litecoin at 197.18 up 0.31%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NVIDIA Corp. up 3.702% at $533.93, DEXCOM Inc. up 3.511% at $359.39, TESLA Inc. up 5.083% at $667.93, MODERNA Inc. up 10.516% at $130.95, KLA Corp. up 4.204% at $330.4, FINSERV Inc. down 1.424% at $119.04, STARBUCKS Corp. down 0.907% at $109.27, DOLLAR TREE Inc. down 1.523% at $114.46.

Economic news:

US: U.S. President Joe Biden’s sweeping $2.3 trillion plan to rebuild America’s crumbling infrastructure proposes doubling federal funding for mass transit and spending $80 billion to expand and modernize passenger rail service.

Public transit systems have suffered through the COVID-19 pandemic as tens of millions of Americans worked from home and curbed business and tourism travel. Many avoided subways and buses due to health concerns over traveling in confined spaces.

But even with widespread vaccinations, it is unclear if demand will return any time soon. Work-from-home arrangements initially seen as temporary pandemic measures now appear to be a long-lasting phenomenon for millions of U.S. workers.

In several cities with the largest, often most decrepit public transit systems, residents have literally headed for the hills to places beyond mass transport networks. Lower-income workers reliant on public transportation are at risk of being at a permanent disadvantage if investment lags in those systems.

In 2019, Americans took 9.92 billion trips on buses and rail systems. It is a figure that fell 53% to 4.64 billion trips in 2020, according to the American Public Transportation Association. Fourth-quarter demand fell 62% in 2020 from the previous year, while in Washington, D.C., transit fell 86% in the same period.

By comparison, annual U.S. private vehicle travel fell only 13.2% in 2020.

Eurozone: A financial services cooperation pact agreed by Britain and the European Union to enable regulators to share information forsees two meetings a year and stops short of any substantive reference to market access, a document showed on Tuesday.

Britain left the EU’s orbit on Dec. 31, cutting the City of London from its largest export customer.

The pact had not been expected to create a forum for deciding on market access as this will up to Brussels granting “equivalence” for specific financial activities.

But the four-page memorandum of understanding seen by Reuters makes scant reference to access, saying that both sides will “jointly endeavour to pursue a robust and ambitious bilateral regulatory cooperation”.

Important Data: German Manufacturing PMI (Mar) today at 3:55 this time estimated 66.6, previously which was 60.7. UK Manufacturing PMI (Mar) today at 4:30 this time estimated 57.9, previously which was 55.1. US Initial Jobless Claims today at 8:30 this time estimated 680K, previously which was 684K. CANADA Building Permits (MoM) (Feb) today at 8:30 this time estimated -1.4%, previously which was 8.2%.

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