Financial Markets & Stock Market Technical Analysis - June 16, 2021

Technical Analysis - Asian shares retreated slightly on Wednesday. The Shanghai composite is down 0.92% at 3,523.70. Overall, the Singapore MSCI down 1.03% at 358.80. Over in Hong Kong, the Hang Seng Index down 0.22% to 28,450. In Japan, the Nikkei 225 down 0.54% at 29,250, while the Topix index is up 0.08% at 1972.5. South Korea’s Kospi up 0.62% to 3278.98. Australia S&P/ASX 200 up 0.12% at 7388.3.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.36% up at 15729.52, CAC 40 futures up 0.35% at 6639.53 and the UK 100 futures contract in the U.K. up 0.36% at 7,172.49.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.27% at 34299.34 the S&P 500 down 0.20% to 4246.58 and the Nasdaq 100 up 0.01% at 14054.6, NYSE closes at 16655.81 down 0.04%.

In the Forex market, GBPUSD up 0.06% at 1.40896. The USDJPY up 0.10% at 110.118. The USDCHF up 0.15% at 0.89888. EURUSD down 0.01% at 1.21251, EUR/GBP down 0.04% at 0.86043. The USD/CNY down 0.08% at 6.4004, at the time of writing.

In the commodity market U.S. Gold futures up 0.09% at $1,861.02. Elsewhere, Silver futures up 0.38% to $27.742 per ounce, Platinum down 0.32% at $1148.30 per ounce, and Palladium down 0.14% to $2,760.50.

Crude Oil up on Wednesday; Brent crude oil up 0.42% to $74.53 barrel while U.S. West Texas Intermediate (CLc1) is up 0.70% at $70.48.

In the Cryptocurrency Markets, BTCUSD at 40426.49 up 0.62%, Ethereum at 2532.48 down 0.48%, Litecoin at 174.95 down 0.19%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

GARTNER Inc. up 2.256% at $234.80, NOV Inc. up 4.164% at $17.51, EXXON MOBIL Corp. up 3.641% to $64.33, TESLA Inc. down 2.968% to $599.36, ETSY Inc. down 2.49% to $166.06, BIOGEN Inc. down 2.477% at $396.08.

Economic news:

US: Jared Kushner, son-in-law of former U.S. President Donald Trump and a senior adviser in his administration, has reached a deal to write a book billed by his publisher as the “definitive” recounting of Trump’s presidency.

The book will be released early next year, according to publisher Broadside Books, an imprint of HarperCollins Publishers specializing in conservative authors.

Broadside did not make financial terms of the agreement public.

“Jared Kushner was the most consequential adviser throughout President Trump’s presidency, and as a senior adviser, he played a central role in the administration’s most significant accomplishments – including the Abraham Accords, Criminal Justice Reform, Operation Warp Speed, and USMCA,” Broadside said in announcing the deal.

“His book will be the definitive, thorough recounting of the administration and the truth about what happened behind closed doors,” the publisher said.

Eurozone: British consumer price inflation jumped to 2.1% in May, above the Bank of England’s 2.0% target and its highest since July 2019, official figures showed on Wednesday.

The acceleration of price growth from April’s 1.5% was driven in large part by the comparison effect with May 2020 when the country was in its first tight lockdown, especially for clothing, motor fuel, games and take-away food.

A Reuters poll of economists had pointed to a rise in inflation to 1.8%.

Core inflation, which excludes the price of food, energy and other volatile items, rose to 2.0% in the 12 months to May, the Office for National Statistics said.

Investors around the world are trying to gauge the risks of a sustained jump in inflation, especially in the United States where annual inflation hit 5.0% in May, the highest in almost 13 years.

The BoE has said it expects inflation to hit 2.5% by the end of this year as the economy reopens after its coronavirus lockdowns and as global oil prices rise.

Important Data: US Building Permits (May) today at 8:30 this time estimated 1.73M, previously which was 1.733M. CANADA Core CPI (MoM) (May) today at 8:30 this time estimated 0.4%, previously which was 0.5%.NZD GDP (QoQ) (Q1) today at 18:45 this time estimated 0.5%, previously which was -1.0%. AUSTRALIA Employment Change (May) today at 21:30 this time estimated 30.0K, previously which was -30.6K.

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