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DAILY MARKET REPORT

The markets in the U.S. will be closed on Monday in observance of the President's Day holiday. Foreign financial markets are open Monday and currency markets are expected to remain open for trading.

DAILY MARKET REPORT

The markets in the U.S. will be closed on Monday in observance of the President's Day holiday. Foreign financial markets are open Monday and currency markets are expected to remain open for trading.

EQUITIES

Global stocks started the new week on a positive note supported by a strong Q4 earnings report and prospects of additional fiscal stimulus in the US. On Friday, President Biden appealed to a bipartisan group of local officials for their support in passing his proposed $1.9 trillion stimulus package.

OIL

Crude oil prices climbed to a fresh year high on Monday lifted by the rising tensions between the Iran-backed Houthis rebels and Saudi Arabia.

CURRENCIES

In the currency market, the EURO trading steady above 1.2130 on Monday. The key data for Euro for this week will once again be the FOMC as we get the latest minutes from their most recent meeting, German ZEW Economic Sentiment on Tuesday and Eurozone manufacturing & services PMI Figures on Friday.

GOLD

The safe-haven edged lower on Monday as a slowdown in the rate of coronavirus infections, and risk appetite improved. The metal also faced bearish pressure after the benchmark US Treasury yields soared to an almost 11-month high on Friday.

Economic Outlook

This week the main highlights of the economic calendar will be the retail sales data from the US, UK and Australia, FOMC and RBA meeting minutes and inflation data from the UK.

The other main attraction for this week Investors waiting for Wal-Mart earnings report. The world's biggest retailer will announce its holiday season results on Thursday.

Coronavirus update:

Worldwide, the number of COVID-19 cases reported is more than 108.6 million.  The United States has confirmed over 27.5 million cases and has had more than 484,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook

GBP/USD: The Pound enjoying the upside rally. The price crossed 1.3900 resistance level on Monday European session. The next important level to watch 1.3920 and 1.3940.

euraud

The important levels to watch for today: Support- 1.3860 and 1.3830 Resistance- 1.3920 and 1.3950.

GOLD: The yellow metal trading weaker below $1820 supported by $1800. Today, gold is again expected face resistance around $1,832 along with the support around $1806 and $1800.

gold neww

The important levels to watch for today: Support- 1806 and 1798 Resistance- 1826 and 1832.

Quote of the day: If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money – Bill Lipschutz.

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DAILY MARKET REPORT

DAILY MARKET REPORT

On Wednesday, the U.S. Commerce Department released the latest retail sales data. The data showed the retail sales for January increased stronger than anticipated, with a sharp gain of 5.3% against expectations of 1.1%.

DAILY MARKET REPORT

DAILY MARKET REPORT

UK and European shares slip lower on Wednesday after mixed corporate earnings results and amid growing concerns over rising bond yields in the US.

DAILY MARKET REPORT

DAILY MARKET REPORT

The UK has given the first dose of coronavirus vaccine to almost a quarter of the population, the Britain Government data showed the total receiving first vaccines doses was 15 million.

DAILY MARKET REPORT

DAILY MARKET REPORT

Walt Disney (NYSE: DIS) shares rose about 3% in after-market trading and reached a new all-time high of $193.89 after the company surprised Wall Street with the last quarter financial results. Disney+ subscribers totalled 94.9 million at the end of the quarter, more than double the subscriber base a year ago.