Technical Analysis Report On Stocks, Crypto, Commodities – 17 December 2021

 

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is down 0.85% at 3,643.70. Overall, the Singapore MSCI down 1.21% at 335.50. Over in Hong Kong, the Hang Seng Index down 1.13% at 23,209.00. In Japan, the Nikkei 225 down 1.83% at 28,470.00, while the Topix index is down 1.59% at 1978.5. South Korea’s Kospi up 0.16% to 3011.07. Australia S&P/ASX 200 up 0.11% at 7304.0.

European equities Thursday closing. The DAX futures contract in Germany traded up 1.03% at 15636.40, CAC 40 futures up 1.12% at 7005.08 and the UK 100 futures contract in the U.K. up 1.25% at 7,260.62.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.08% at 35897.65. The S&P 500 down 0.87% at 4668.66 and the Nasdaq 100 down 2.61% at 15863.94, NYSE closes up 0.21% at 16849.09.

In the Forex market, GBPUSD up 0.09% at 1.3331. The USDJPY down 0.01% at 113.574. The USDCHF down 0.08% at 0.91837. EURUSD up 0.11% at 1.13423, EUR/GBP up 0.05% at 0.85072. The USD/CNY up 0.02% at 6.3685 at the time of writing.

In the commodity market U.S. Gold futures up 0.33% at $1,804.93. Elsewhere, Silver futures up 0.03% at $22.466 per ounce, Platinum down 0.16% at $935.50 per ounce, and Palladium down 0.52% at $1722.00.

Crude Oil down on Friday; Brent crude oil down 0.36% at $74.33 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.47% at $71.62.

In the Cryptocurrency Markets, Bitcoin at 47748.26 up 0.18%, Ethereum up 0.10% at 3958.86, Litecoin at 148.65 down 0.01%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

AT&T Inc. up 6.946% at $23.71, Nucor Corp. up 5.249% at $113.9, Pfizer Inc. up 1.167% to $61.25, Adobe Inc. down 10.192% to $566.09, NVIDIA Corp. down 6.803% to $283.87, Tesla Inc. down 5.028% at $926.92.

ECONOMIC NEWS:

US: New car sales in the United States are expected to rise next year, driven by pent-up demand as automakers in 2021 cut production due to pandemic-driven supply chain issues and semiconductor shortages, industry consultant Edmunds said on Thursday.

The online car shopping guide estimated that 15.2 million new cars will be sold in 2022, representing a 1.2% increase from its 2021 vehicle sales estimate.

Shortages of semiconductor chips that control everything from heated seats to infotainment systems have caused major automakers such as General Motors (NYSE:GM) to cut production or, in some cases, build vehicles without certain features.

“Sales have been depressed since the spring, but consumer appetite for new vehicles continues to run high, which will only serve to build up deferred demand next year and beyond,” said Jessica Caldwell, Edmunds’ executive director of insights.

Eurozone: Britain became the first G7 economy to hike interest rates since the onset of the pandemic on Thursday, with the U.S. Federal Reserve also signalling plans to tighten in 2022 but the European Central Bank only slightly reining in stimulus.

The different paths taken by major central banks underline deep uncertainties about how the fast-spreading Omicron variant will hit the global economy and their differing views on an inflation surge that is landing hard in the United States and Britain, but less so in Europe and less again in Japan.

While the risk of uncontrolled prices has taken precedent for the Fed and the Bank of England, European Central Bank President Christine Lagarde emphasised in a news conference that the pandemic was again depressing spending in the euro zone and threatening growth.

“To cope with the current pandemic, wave some countries have introduced tighter containment measures … This could delay the recovery … The pandemic is weighing on consumer and business confidence,” Lagarde said.

Important Data: UK Retail Sales (MoM) (Nov) today at 2:00 this time estimated 0.8%, previously which was 0.8%. GERMANY PPI (MoM) (Nov) at 2:00 this time estimated 1.4%, previously which was 3.8%. EURO ZONE CPI (YoY) (Nov) today at 5:00 this time estimated 4.9%, previously which was 4.9%. CANADA Foreign Securities Purchases (Oct) today at 8:30 previously which was 20.02B.

TECHNICAL REPORT

GBPUSD TECHNICAL ANALYSIS

TRADE SUGGESTION- BUY AT 1.3328, TAKE PROFIT AT 1.3357 AND STOP LOSS AT 1.3285

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