TECHNICAL ANALYSIS REPORT TODAY

TECHNICAL ANALYSIS REPORT TODAY – 20 AUGUST 2021

- August 20, 2021

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is down 1.59% at 3,410.70. Overall, the Singapore MSCI up 1.19% at 358.55. Over in Hong Kong, the Hang Seng Index down 1.46% at 24,845. In Japan, the Nikkei 225 down 0.92% at 26,960, while the Topix index is down 1.06% at 1875.5. South Korea’s Kospi down 1.17% to 3061.71. Australia S&P/ASX 200 down 0.03% at 7462.3.

European equities Thursday closing. The DAX futures contract in Germany traded down 1.25% at 15765.81, CAC 40 futures down 2.43% at 6605.90 and the UK 100 futures contract in the U.K. down 0.11% at 7,068.3.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.19% at 34894.13. The S&P 500 up 0.13% to 4405.79 and the Nasdaq 100 down 0.20% at 14918.2, NYSE closes at 16429.13 down 0.73%.

In the Forex market, GBPUSD down 0.05% at 1.36233. The USDJPY down 0.03% at 109.688. The USDCHF down 0.22% at 0.91643. EURUSD up 0.09% at 1.16850, EUR/GBP up 0.23% at 0.85756. The USD/CNY up 0.11% at 6.5018, at the time of writing.

In the commodity market U.S. Gold futures up 0.46% at $1,787.50. Elsewhere, Silver futures up 0.47% to $23.311 per ounce, Platinum up 1.34% at $986.53 per ounce, and Palladium up 0.92% at $2,334.19.

Crude Oil mix on Friday; Brent crude oil up 0.35% at $66.70 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.54% at $68.33.

In the Cryptocurrency Markets, BTCUSD at 47174.66 up 0.88%, Ethereum at 3231.25 up 1.45%, Litecoin at 176.79 up 0.71%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Netflix Inc. up 4.185% at $543.71, NVIDIA Corp. up 3.981% at $197.98, Cisco Systems Inc. up 3.844% to $57.27, Gap Inc. up 2.812% to $27.42, Moderna Inc. down 5.835% to $375.53, Mosaic Co. down 4.335% at $29.57.

Economic news:

US: U.S. states can use federal pandemic-related funds passed this year to extend unemployment aid, President Joe Biden’s administration said on Thursday, saying the Delta variant impact on some local economies may mean people need help for longer.

“There are some states where it may make sense for unemployed workers to continue receiving additional assistance for a longer period of time, allowing residents of those states more time to find a job in areas where unemployment remains high,” U.S. Treasury Secretary Janet Yellen and U.S. Labor Secretary Martin Walsh told congressional leaders in a letter.

“The Delta variant may also pose short-term challenges to local economies and labor markets,” they added.

Extra federal unemployment benefits will expire as planned on Sept. 6, they said. But states can tap funds from a law enacted in March called the American Rescue Plan, they told the heads of the Senate Finance Committee and the House of Representatives Ways and Means Committee.

Eurozone: The European Central Bank’s new policy guidance can boost inflation expectations, paving the ground to higher interest rates down the line, the ECB’s chief economist Philip Lane said on Thursday.

“The systematic approach to monetary policy embedded in rate forward guidance has the capacity to boost inflation expectations and thereby strengthen inflation dynamics,” Lane said in a blog post.

“In turn, stronger inflation dynamics are the key to eventual normalisation of policy rates.”

Important Data: CANADA Core Retail Sales (MoM) (Jun) today at 8:30 this time estimated 4.6%, previously which was -2.0%. CANADA New Housing Price Index (MoM) (Jul) today at 8:30, previously which was 0.6%. RUSSIA Retail Sales (YoY) (Jul) today at 12:00 this time estimated 5.4%, previously which was 10.9%. RUSSIA GDP Quarterly (YoY) (Q2) today at 14:00 previously which was 10.3%.

TECHNICAL SUMMARY

GBPUSD