Technical Analysis Report On Stocks, Crypto, Commodities – 13 December 2021

 Asia Pacific stocks were up on Monday morning. The Shanghai composite is up 0.43% at 3,682.22. Overall, the Singapore MSCI down 0.84% at 342.35. Over in Hong Kong, the Hang Seng Index up 0.38% at 24,070.00. In Japan, the Nikkei 225 up 0.95% at 28,650.00, while the Topix index is up 0.25% at 1978.5. South Korea’s Kospi down 0.28% to 3001.66. Australia S&P/ASX 200 up 0.35% at 7379.3.

European equities Friday closing. The DAX futures contract in Germany traded down 0.10% at 15623.31, CAC 40 futures down 0.24% at 6991.67 and the UK 100 futures contract in the U.K. up 0.33% at 7,322.40.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.60% at 35971.00. The S&P 500 up 0.95% at 4712.01 and the Nasdaq 100 up 1.13% at 16331.98, NYSE closes up 0.45% at 16856.62.

In the Forex market, GBPUSD down 0.30% at 1.3227. The USDJPY up 0.20% at 113.55. The USDCHF up 0.21% at 0.9225. EURUSD down 0.27% at 1.12848, EUR/GBP up 0.05% at 0.85322. The USD/CNY down 0.06% at 6.3641 at the time of writing.

In the commodity market U.S. Gold futures up 0.10% at $1,784.17. Elsewhere, Silver futures up 0.33% to $22.221 per ounce, Platinum up 0.96% at $950.50 per ounce, and Palladium up 0.82% at $1775.50.

Crude Oil up on Monday; Brent crude oil up 1.26% at $76.23 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.61% at $71.01.

In the Cryptocurrency Markets, Bitcoin at 48970.87 down 2.30%, Ethereum down 3.40% at 3995.56, Litecoin at 154.54 down 2.84%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Oracle Corp. up 15.613% at $102.63, Ford Motor Co. up 9.607% at $21.45, General Motors Co. up 6.022% to $63.21, Moderna Inc. down 5.566% to $257.06, ETSY Inc. down 3.891% to $225.28, Citigroup Inc. down 2.301% at $60.71.

Economic news:

US: The U.S. government on Friday posted a $191 billion budget deficit for November, 32% higher than the $145 billion shortfall a year earlier as pandemic-related spending drove record outlays for the month and outstripped a sharp rise in personal income tax receipts on the back of the rebounding economy.

The November deficit was $4 billion below the median estimate among economists polled by Reuters of $195 billion.

Receipts for the second month of the federal government’s fiscal year totaled $281 billion, up 28% and a record for the month of November, the Treasury Department said. Individual tax receipts rose 27% to $244 billion.

A Treasury official said the increase stems largely from the improvement in the economy and people continuing to return to work after last year’s widespread shutdowns from the COVID-19 pandemic, which triggered a short but sharp recession.

Spending also was a record for the month of November, with total outlays of $473 billion, up 30% from November 2020’s $365 billion. Spending increases for the Health and Human Services and Treasury departments largely arising from pandemic programs drove most of the increase.

Eurozone: The European Central Bank is set to halve the amount of assets it buys each month from April, according to a Reuters poll of ECB-watchers who judged that a reprieve from high euro zone inflation by late 2022 means an interest rate rise is years away.

Policymakers at the Dec. 16 Governing Council meeting will debate options on how to adapt the bank’s regular asset purchase programme (APP) once a much larger pandemic-fighting scheme ends in March.

The survey found relatively steady euro zone growth forecasts, with most citing the spread of new coronavirus variants, not persistent inflation, as the biggest economic threat next year.

While the risk of variants is global, the ECB differs in its response from its U.S. and UK counterparts as they are almost certain to raise interest rates from near-zero in 2022 – the Bank of England perhaps as soon as February.

Important Data: AUSTRALIA HIA New Home Sales (MoM) today at 19:00 previously which was 11.1%. JAPAN Industrial Production (MoM) (Oct) at 23:30 previously which was 1.1%. AUSTRALIA NAB Business Confidence (Nov) today at 19:30 previously which was 21.00. Germany 12-Month Bubill Auction today at 5:40 previously which was -0.756%.

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.32276, TAKE PROFIT AT 1.32051 AND STOP LOSS AT 1.32733

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