Technical Analysis of the Financial Markets, Technical Analysis is the art of forecasting future price movement.
Asian shares hovered just below a record high on Friday as mixed U.S. economic data caused some investors to show restraint after a global stock market rally pushed many bourses to dizzying heights. The Shanghai composite is up 1.43% at 3,655.08. Overall, the Singapore MSCI up 0.35% at 333.95. Over in Hong Kong, the Hang Seng Index down 0.01% to 30,134. In Japan, the Nikkei 225 up 0.14% at 29,460, while the Topix index is up 0.55% at 1932.5. South Korea’s Kospi up 0.52% to 3100.58. Australia S&P/ASX 200 down 0.63% at 6806.7.
European equities Thursday closing. The DAX futures contract in Germany traded 0.77% up at 14040.91, CAC 40 futures down 0.02% at 5669.8 and the UK 100 futures contract in the U.K. up 0.07% at 6,528.7.
In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.02% down at 31430.7 the S&P 500 up 0.17% to 3916.4 and the Nasdaq 100 up 0.58% at 13734.3, NYSE closes at 15297.08 up 0.15%.
In the Forex market, GBPUSD down 0.13% at 1.37971. The USDJPY up 0.10% at 104.84. The USDCHF up 0.05% at 0.89034. EURUSD flat at 1.21277, EUR/GBP up 0.15% at 0.87894. The USD/CNY down 0.05% at 6.4542, at the time of writing.
In the commodity market U.S. Gold futures down 0.15% at $1,822.51. Elsewhere, Silver futures up 0.46% to $27.08 per ounce, Platinum down 0.88% at $1223.14 per ounce, and Palladium up 0.19% to $2,356.0.
Crude Oil down on Friday; Brent crude oil down 0.25% to $60.69 barrel while U.S. West Texas Intermediate (CLc1) is down 0.35% at $57.52.
In the Cryptocurrency Markets, BTCUSD at 47107.62 down 1.82%, Ethereum at 1752.46 down 2.00%, Litecoin at 181.39 down 1.44%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
MICRON Tech. up 5.015% at $86.48, KRAFT HEINZ Co. up 4.869% at $35.54, WESTERN DIGITAL up 5.903% to $63.955, PEPSI Co. Inc. down 1.983% to $134.97, NIKE Inc. up 0.758% to $143.54, NVIDIA. Corp. up 3.295% at $610.03.
US: A slower-than-expected vaccine rollout and the rise of coronavirus variants may make attaining herd immunity against COVID-19 difficult, but that should not stop the economy from rebounding, according to a U.S. central banker Thursday.
“I don’t think the economy requires herd immunity,” Richmond Federal Reserve Bank President Thomas Barkin told Reuters Thursday. “Consumers who get vaccines, who have money in their pockets…are going to be free to spend,” he said.
Analysts have long predicted economic activity will pick up as more people are vaccinated, but hopes for a quick path to a fully immunized populace have faded amid vaccine shortages and other roadblocks. President Joe Biden said earlier this week it will be “challenging” for the economy to reach herd immunity by summer’s end. Barkin’s remarks signal a growing understanding that an economic rebound and an ongoing pandemic are not mutually exclusive realities.
Eurozone: The euro zone economy is in double-dip recession amid lockdown restrictions due to a resurgence in coronavirus cases, according to a Reuters poll of economists, who said the risks to their already weak outlook was skewed more to the downside.
Given delays to the European Union’s vaccine roll-out and concerns about new coronavirus variants supporting current lockdowns, stalled economic activity and rising unemployment pose a serious threat to any expected recovery.
Only last month the economy was predicted to make a sharp recovery and grow 0.6% this quarter after shrinking 0.7% in Q4.
Important Data: UK GDP (QoQ) (Q4) today at 2:00 this time estimated 0.5%, previously which was 16.0%. UK Manufacturing Production (MoM) (Dec) today at 2:00 this time estimated 0.5%, previously which was 0.7%. RUSSIA Interest Rate Decision (Feb) today at 5:30 previously which was 4.25%. US Federal Budget today at 14:00 previously which was at -430.0B.
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