Technical Analysis of the Financial Markets – Report On 08 April 2021

 Asia Pacific stocks were mixed Thursday morning. The Shanghai composite is up 0.43% at 3,494.08. Overall, the Singapore MSCI down 0.14% at 360.50. Over in Hong Kong, the Hang Seng Index up 1.48% at 28,963. In Japan, the Nikkei 225 flat at 29,710, while the Topix index is down 0.71% at 1952.0. South Korea’s Kospi up 0.17% to 3142.68. Australia S&P/ASX 200 up 0.91% at 6990.7.

European equities Wednesday closing. The DAX futures contract in Germany traded down 0.24% at 15176.36, CAC 40 futures down 0.01% at 6130.7 and the UK 100 futures contract in the U.K. up 0.91% at 6,885.3.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.05% up at 33446.3, the S&P 500 up 0.15% to 4080.0 and the Nasdaq 100 up 0.28% at 13616.7, NYSE closes at 15838.84 down 0.25%.

In the Forex market, GBPUSD up 0.22% at 1.37660. The USDJPY down 0.17% at 109.643. The USDCHF down 0.09% at 0.92868. EURUSD up 0.10% at 1.18738, EUR/GBP down 0.16% at 0.86250. The USD/CNY up 0.07% at 6.5468, at the time of writing.

In the commodity market U.S Gold futures up 0.42% at $1,744.10. Elsewhere, Silver futures up 0.78% to $25.324 per ounce, Platinum up 0.58% at $1233.62 per ounce, and Palladium down 0.04% to $2,622.00.

Crude Oil mix on Thursday; Brent crude oil down 0.38% to $62.66 barrel while U.S. West Texas Intermediate (CLc1) is up 0.43% at $60.37.

In the Cryptocurrency Markets, BTCUSD at 57176.81 up 2.18%, Ethereum at 2017.87 up 2.79%, Litecoin at 223.70 up 2.12%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TWITTER Inc. up 2.97% at $68.99, FACEBOOK up 2.23% at $313.09, NVIDIA Corp. up 2.034% at $565.74, TESLA Inc. down 2.986% at $670.97, APPLE Inc. up 1.339% at $127.9, INTEC Corp. up 1.053% at $66.25, VISA Inc. up 0.284% at $219.27, NIKE Inc. down 0.452% at $136.54.

Economic news:

US: Federal Reserve officials remain wary about the ongoing risks of the coronavirus pandemic and are committed to bolstering the economy until its recovery is more secure, minutes of the U.S. central bank’s latest policy meeting showed on Wednesday.

With their own forecasts projecting the strongest run of U.S. economic growth in nearly 40 years, “participants agreed that the economy remained far from the (Fed’s) longer-run goals and that the path ahead remained highly uncertain,” the minutes from the March 16-17 meeting said.

“Participants noted that it would likely be some time,” before conditions improved enough for the central bank to consider reducing its current level of support.

Though several policymakers at the meeting indicated they thought interest rates might need to increase sooner than anticipated by the bulk of their colleagues, and perhaps as soon as next year, there was little sense of urgency around that issue in the minutes.

Eurozone: The European Central Bank sped up the pace of its emergency bond-buying programme by 22.7% in March despite a slowdown in the runup to Easter, with Germany the biggest beneficiary of its stimulus, data showed on Tuesday.

The ECB bought 73.5 billion euros worth of bonds under its Pandemic Emergency Purchase Programme (PEPP) last month after pledging to raise buying volumes and cap a rise in borrowing costs that threatened to derail the euro zone’s recovery from a pandemic-induced recession.

However, data for the five days to April 2 showed net PEPP purchases were nearly halved compared with the previous week, at just 10.6 billion euros – likely due to lower market activity in the runup to Easter.

German government bonds took the lion’s share of the ECB’s largesse in February and March at 44.8 billion euros, combined data for PEPP and the ECB’s regular Public Sector Purchase Programme showed.

This was more than twice the net supply of German sovereign paper over those months at 21 billion euros, according to UniCredit estimates, and helped bring the country back to its theoretical quota in the programmes.

Important Data: UK Construction PMI (Mar) today at 4:30 this time estimated 54.6, previously which was 53.3. US Initial Jobless Claims today at 8:30 this time estimated 680K, previously which was 719K. AUSTRALIA Building Approvals (MoM) today at 21:30 this time estimated 21.6%, previously which was -19.4%. US Fed Chair Powell Speaks today at 12:00.

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