TECHNICAL ANALYSIS REPORT TODAY

Asian shares rose on Friday. The Shanghai composite is up 1.07% at 3,604.82. Overall, the Singapore MSCI up 0.14% at 354.70. Over in Hong Kong, the Hang Seng Index up 1.24% to 29,191. In Japan, the Nikkei 225 up 0.73% at 29,020, while the Topix index is up 0.72% at 1956.5. South Korea’s Kospi up 0.48% to 3301.52. Australia S&P/ASX 200 up 0.50% at 7311.8.

European equities Thursday closing. The DAX futures contract in Germany traded 0.86% up at 15589.23, CAC 40 futures up 1.22% at 6631.16 and the UK 100 futures contract in the U.K. up 0.51% at 7,109.96.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.95% at 34196.83. The S&P 500 up 0.58% to 4266.48 and the Nasdaq 100 up 0.05% at 14381.5, NYSE closes at 16558.62 up 0.74%.

In the Forex market, GBPUSD up 0.12% at 1.39295. The USDJPY down 0.01% at 110.835. The USDCHF down 0.01% at 0.91766. EURUSD up 0.08% at 1.19404, EUR/GBP up 0.12% at 0.85722. The USD/CNY down 0.21% at 6.4581, at the time of writing.

In the commodity market U.S. Gold futures up 0.29% at $1,780.44. Elsewhere, Silver futures up 0.90% to $26.137 per ounce, Platinum up 0.25% at $1099.7 per ounce, and Palladium up 0.40% to $2,656.00.

Crude Oil up on Friday; Brent crude oil up 0.30% to $75.76 barrel while U.S. West Texas Intermediate (CLc1) is up 0.01% at $70.60.

In the Cryptocurrency Markets, BTCUSD at 34551.77 down 0.28%, Ethereum at 1969.34 down 1.02%, Litecoin at 134.47 down 0.01%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TESLA Inc. up 3.541% at $679.82, DISCOVERY Inc. up 3.021% at $28.65, BOEING Co. up 2.874% to $250.57, DOLLAR TREE Inc. down 2.118% to $99.34, BAIDU Inc. up 2.96% to $194.77, INTEL Corp. up 1.466% at $56.07.

Economic news:

US: Hours after President Joe Biden declared “We have a deal” to renew the infrastructure of the United States, the Senate’s top Republican lashed out at plans to follow the $1.2 trillion bipartisan bill with another measure funding what Democrats call “human infrastructure.”

Biden and top congressional Democrats – House of Representatives Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer – had long signaled their plan to link the bipartisan deal with another bill including spending on home health care and child care.

The second measure would be passed through a Senate maneuver called reconciliation https://www.reuters.com/world/us/us-senates-reconciliation-process-its-not-way-it-sounds-2021-06-16, which would allow it to take effect without Republican votes.

Biden told reporters at the White House that he expected quick action on both measures – or neither would survive.

“I expect that in the coming months this summer, before the fiscal year is over, that we will have voted on this (bipartisan) bill – the infrastructure bill – as well as voted on the budget resolution,” he said. “But if only one comes to me, I’m not signing it. It’s in tandem.”

Eurozone: European Central Bank Executive Board member Isabel Schnabel pledged that she and her colleagues will do everything needed to sustain the economic recovery, and warned governments not to undermine that by tightening fiscal policy too soon.

“The worst thing that can happen is that the support is ended prematurely. I can assure you that on the monetary-policy side, we’ll do everything to avoid that,” Schnabel said in an online event on Thursday.

“Maybe we should be worried more about fiscal policy,” she added, saying that in some countries “there’s already a debate ongoing about consolidation of public finances which may actually come a bit too early.”

Tensions were on display this week when Italian Prime Minister Mario Draghi, a former ECB president, insisted euro-area fiscal rules can’t return to how they were before the pandemic.

The directly contradicts Armin Laschet, the front-runner to succeed Angela Merkel as German chancellor, who said last week that stability policies will have to be reinstated when the effects of the pandemic on the global economy are over. Austrian Finance Minister Gernot Bluemel has made a similar case.

Important Data: US Personal Spending (MoM) (May) today at 8:30 this time estimated 0.4%, previously which was 0.5%. GfK German Consumer Climate (Jul) today at 7:00 this time estimated -4.0, previously which was -6.9. EURO ZONE Private Sector Loans (YoY) today at 4:00 previously which was 3.8%. US PCE price index (MoM) (May) today at 8:30 previously which was 0.6%.

TECHNICAL SUMMARY

GBPUSD