TECHNICAL ANALYSIS REPORT TODAY

Asian shares rose on Wednesday. The Shanghai composite is up 0.31% at 3,592.26. Overall, the Singapore MSCI down 0.62% at 354.90. Over in Hong Kong, the Hang Seng Index up 0.83% to 29,134. In Japan, the Nikkei 225 up 0.21% at 28,660, while the Topix index is down 0.03% at 1921.5. South Korea’s Kospi down 0.19% to 3165.28. Australia S&P/ASX 200 down 0.11% at 7107.3.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.18% up at 15465.09, CAC 40 futures down 0.28% at 6390.27 and the UK 100 futures contract in the U.K. up 0.30% at 7,032.6.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 34312.46 the S&P 500 down 0.21% to 4188.12 and the Nasdaq 100 up 0.14% at 13694.4, NYSE closes at 16390.19 down 0.45%.

In the Forex market, GBPUSD up 0.05% at 1.41523. The USDJPY up 0.07% at 108.814. The USDCHF up 0.08% at 0.89537. EURUSD down 0.02% at 1.22466, EUR/GBP down 0.02% at 0.86523. The USD/CNY down 0.22% at 6.3966, at the time of writing.

In the commodity market U.S. Gold futures up 0.17% at $1,901.26. Elsewhere, Silver futures up 0.28% to $28.03 per ounce, Platinum up 0.99% at $1202.75 per ounce, and Palladium up 0.85% to $2,794.14.

Crude Oil up on Wednesday; Brent crude oil up 0.23% to $68.74 barrel while U.S. West Texas Intermediate (CLc1) is up 2.28% at $66.35.

In the Cryptocurrency Markets, BTCUSD at 39845.99 up 3.77%, Ethereum at 2848.17 up 5.39%, Litecoin at 197.96 up 7.72%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

CARNIVAL Corp. up 2.437% at $28.58, BAIDU Inc. up 2.016% at $192.77, WORKDAY Inc. up 1.098% to $236.57, ADOBE Inc. up 1.456% to $505.08, BIOGEN Inc. down 1.94% to $273.45, SEAGEN Inc. down 1.939% at $150.69.

Economic news:

US: U.S. companies borrowed $9.8 billion for capital investments in April, up 19% from a year earlier, benefiting from an economic recovery triggered by mass COVID-19 vaccinations and easing restrictions, the Equipment Leasing and Finance Association (ELFA) said.

Borrowing in April rose 5% from the previous month, as companies across several sectors lined up for loans, leases and lines of credit.

“An increasing number of businesses are opening up, as more Americans are receiving a vaccination, traveling and otherwise trying to return to some semblance of normalcy,” ELFA Chief Executive Officer Ralph Petta said on Tuesday.

“What we see so far in terms of capital equipment investment is indeed encouraging as we head into the summer months.”

Eurozone: The European Central Bank should not reduce the pace of asset purchases after its June 10 meeting as the economic recovery is still in an early phase and inflation remains too low, ECB board member Fabio Panetta told Nikkei.

“The conditions that we see today do not justify reducing the pace of purchases, and a discussion about phasing out the PEPP is still clearly premature,” Panetta said in an interview.

The 1.85 trillion-euro ($2.27 trillion) Pandemic Emergency Purchase Programme (PEPP) should first neutralise the effects of the pandemic on inflation then needs to ensure that price pressures become more sustainable, Panetta added.

Important Data: US Crude Oil Inventories today at 10:30 this time estimated

-1.050M, previously which was 1.321M. US Private New Capital Expenditure (QoQ) (Q1) today at 21:30 this time estimated 2.0%, previously which was 3.0%. US Cushing Crude Oil Inventories today at 10:30 previously which was -0.142M. CANADA BoC Gov Council Member Lane Speaks today at 13:00.

TECHNICAL SUMMARY

GBPUSD