Technical Analysis Report On Stocks, Crypto, Commodities – 22 December 2021

 Asia Pacific stocks were mostly up on Wednesday morning. The Shanghai composite is up 0.05% at 3,626.63. Overall, the Singapore MSCI up 1.33% at 334.95. Over in Hong Kong, the Hang Seng Index up 0.58% at 23,042.00. In Japan, the Nikkei 225 down 0.21% at 28,440.00, while the Topix index is down 0.20% at 1963.5. South Korea’s Kospi up 0.15% to 2979.50. Australia S&P/ASX 200 up 0.13% at 7364.8.

European equities Tuesday closing. The DAX futures contract in Germany traded up 1.36% at 15447.44, CAC 40 futures up 1.38% at 6965.00 and the UK 100 futures contract in the U.K. up 1.38% at 7,297.41.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.60% at 35492.71. The S&P 500 up 1.78% at 4649.22 and the Nasdaq 100 up 2.29% at 15986.28, NYSE closes up 1.84% at 16744.27.

In the Forex market, GBPUSD down 0.09% at 1.32465. The USDJPY up 0.06% at 114.141. The USDCHF up 0.13% at 0.92427. EURUSD down 0.12% at 1.12716, EUR/GBP up 0.10% at 0.85089. The USD/CNY flat at 6.3714 at the time of writing.

In the commodity market U.S. Gold futures down 0.04% at $1,787.75. Elsewhere, Silver futures up 0.03% at $22.510 per ounce, Platinum down 0.32% at $932.00 per ounce, and Palladium up 0.31% at $1803.00.

Crude Oil up on Wednesday; Brent crude oil up 0.08% at $74.08 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.61% at $70.61.

In the Cryptocurrency Markets, Bitcoin at 49083.16 up 0.31%, Ethereum up 0.60% at 4042.64, Litecoin at 155.61 up 0.48%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Micron Technology Inc. up 10.545% at $90.68, Expedia Group Inc. up 9.136% at $177.27, Carnival Corp. up 8.677% to $20.54, Pfizer Inc. down 3.392% to $58.95, Moderna Inc. down 2.981% to $268.14, Equinix Inc. down 2.161% at $804.58.

Economic news:

US: The U.S. current account deficit surged to a 15-year high in the third quarter amid a record increase in imports as businesses rushed to replenish depleted inventories to meet strong demand.

The Commerce Department said on Tuesday that the current account deficit, which measures the flow of goods, services and investments into and out of the country, accelerated 8.3% to $214.8 billion last quarter. That was the largest shortfall since the third quarter of 2006.

Data for the second quarter was revised to show a $198.3 billion deficit, instead of $190.3 billion as previously reported. Economists polled by Reuters had forecast a $205.0 billion deficit last quarter.

The current account gap represented 3.7% of gross domestic product. That was the largest share since the fourth quarter of 2008 and was up from 3.5% in the April-June quarter.

Eurozone: Britain announced on Tuesday 1 billion pounds ($1.3 billion) of extra support for businesses hit hardest by the wave of Omicron variant coronavirus cases, which is hammering the country’s hospitality sector and other businesses.

Finance minister Rishi Sunak said he was confident the measures would help hundreds of thousands of businesses. But he added that he would “respond proportionately and appropriately” if the government were to impose further restrictions to slow Omicron.

For now, hospitality businesses in England are not subject to any new legal restrictions despite a 60% surge in COVID-19 cases over the past week which has taken the number of infections to around 90,000 a day.

Bars and restaurants in Scotland will be restricted to table service only from Dec. 27 and public New Year’s Eve celebrations will be cancelled.

Prime Minister Boris Johnson said there was not enough evidence to justify new COVID-19 restrictions in England before Christmas, but the situation remained extremely difficult and the government might need to act afterwards.

Important Data: UK GDP (YoY) (Q3) today at 2:00 this time estimated 6.6%, previously which was 6.6%. US GDP (QoQ) (Q3) at 8:30 this time estimated 2.1%, previously which was 2.1%. US Crude Oil Inventories today at 10:30 this time estimated -2.75M, previously which was -4.584M. AUSTRALIA Private Sector Credit (MoM) (Nov) today at 19:30 previously which was 0.5%.

TECHNICAL REPORT

GBPUSD

TRADE SUGGESTION- SELL AT 1.32492, TAKE PROFIT AT 1.32067 AND STOP LOSS AT 1.32841

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