Technical Analysis Report On Stocks, Crypto, Commodities – 23 December 2021

 Asia Pacific stocks were up on Thursday morning. The Shanghai composite is up 0.06% at 3,624.49. Overall, the Singapore MSCI up 0.22% at 335.90. Over in Hong Kong, the Hang Seng Index up 0.27% at 23,156.00. In Japan, the Nikkei 225 up 0.84% at 28,680.00, while the Topix index is up 0.87% at 1981.0. South Korea’s Kospi up 0.29% to 2993.04. Australia S&P/ASX 200 up 0.31% at 7387.6.

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.95% at 15593.47, CAC 40 futures up 1.24% at 7051.67 and the UK 100 futures contract in the U.K. up 0.61% at 7,341.66.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.74% at 35753.90. The S&P 500 up 1.02% at 4696.57 and the Nasdaq 100 up 1.21% at 16180.14, NYSE closes up 0.78% at 16874.88.

In the Forex market, GBPUSD up 0.06% at 1.33536. The USDJPY up 0.05% at 114.147. The USDCHF down 0.01% at 0.9189. EURUSD up 0.13% at 1.13409, EUR/GBP up 0.15% at 0.84934. The USD/CNY flat at 6.3698 at the time of writing.

In the commodity market U.S. Gold futures up 0.25% at $1,807.94. Elsewhere, Silver futures up 0.41% at $22.870 per ounce, Platinum up 0.26% at $974.00 per ounce, and Palladium down 1.88% at $1853.00.

Crude Oil mix on Thursday; Brent crude oil down 0.09% at $75.49 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.31% at $70.83.

In the Cryptocurrency Markets, Bitcoin at 48286.77 down 0.68%, Ethereum down 0.96% at 3943.67, Litecoin at 155.61 up 0.15%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Tesla Inc. up 7.495% at $1,008.87, Mosaic Co. up 3.724% at $38.72, Carnival Corp. up 3.547% to $21.25, Carmax Inc. down 6.657% to $127.87, Moderna Inc. down 6.258% to $251.36, Oracle Corp. down 1.803% at $89.86.

Economic news:

US: Corporate tax advisers are warning clients not to celebrate the apparent demise of U.S. President Joe Biden’s $1.75 trillion climate and social spending package, which they say could be resuscitated with a similar price tag and proposed tax hikes.

Any changes in a new version of the bill negotiated between Biden and his fellow Democrat, U.S. Senator Joe Manchin, are likely to focus more on the spending side than on revenue-raising measures, said Ryan Abraham, a principal with Ernst & Young’s Washington Council advisory practice.

The bill’s revenue measures include higher taxes on companies and the wealthiest households.

Over the weekend, Manchin shocked the White House when he said in an interview on the “Fox News Sunday” program that he would not support the spending package. The moderate Democrat has expressed concerns about its impact on inflation as well as measures such as the expansion of the child tax credit program.

But Manchin, who represents West Virginia, one of the poorest states in the country, has continuously said he supports increasing taxes on corporations and the wealthy and reversing some of the Trump administration’s 2017 tax cuts that he opposed.

Eurozone: British businesses have reported their weakest growth since the country was under lockdown earlier this year and they expect a further slowdown in early 2022, the Confederation of British Industry (CBI) said on Thursday.

The CBI’s monthly growth indicator – which combines surveys of output from manufacturers, retailers and other services companies – fell 11 points to +21 in the three months to December, the lowest since the three months to April.

Growth was expected to slow again in the coming three months as the Omicron variant of the coronavirus weighs on the economy.

“Substantial challenges remain for businesses heading into Christmas: labour and materials shortages, rising costs and new COVID measures are restricting businesses’ ability to trade during this crucial period,” CBI Lead Economist Alpesh Paleja said in a statement.

Prime Minister Boris Johnson has ruled out new COVID restrictions in England before Christmas but said he might have to act afterwards. Scotland and Wales have tightened controls.

Important Data: US Initial Jobless Claims today at 8:30 this time estimated 205K, previously which was 206K. CANADA GDP (MoM) (Oct) at 8:30 this time estimated 0.8%, previously which was 0.1%. US New Home Sales (Nov) today at 10:00 this time estimated 770K, previously which was 745K. JAPAN National Core CPI (YoY) (Nov) today at 18:30 this time estimated 0.4%, previously which was 0.1%.

TECHNICAL REPORT

GBPUSD

TRADE SUGGESTION- BUY AT 1.33490, TAKE PROFIT AT 1.33691 AND STOP LOSS AT 1.33389

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