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Indices Slumps Amid U.S Threatening of Delisting Chinese Companies & Oil Prices Soars Down Further

By Research Team Thursday, Mar 25, 2021
USD/CHF

    • 11.10am IStD1
    • High0.93657
    • Low0.9351
    • Close0.93589

USD/CHF is trading at 0.93552, 0.28% down since Wednesday. The stronger USD turned out to be negative for other basket of currencies. The chances of tax hike in U.S, threat of delisting Chinese companies from U.S bourses & lockdown phase in European regions further adds on the depreciation in the currencies. Last week, the Swiss nations’ Trade Balance surplus fell to 3.70B from 4.98B in the previous month & the PPI rate failed to change against the expected rise of 0.2%. The SNB is to hold its meeting today focusing on interest rate decision which will be closely monitored. As seen in the chart, the USD/CHF is hovering above the short term Moving Averages & hence, further selling may be noticed in CHF against the USD on daily basis.

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Daily Outlook

USD/CHF

Intra Day
Near Day

Technical Levels

R3 0.94828
R2 0.94235
R1 0.93910
Turnaround 0.93642
S1 0.93320
S2 0.93049
S3 0.92456
By Research Team Thursday, Mar 25, 2021
WTI OIL

    • 11.25am ISTD1
    • High60.83
    • Low59.68
    • Close59.91

WTI Oil is trading at $59.86, 0.07% down since Wednesday. The Energy Information Administration (EIA) report showed a rise in Oil inventory level by 1.9 mbpd against the previous rise of 2.4mbpd. Earlier, the API report revealed a rise in Oil stocks level by 2.92mbod against the expected fall of 0.90 mbpd which dragged down the prices. The fear looms over lockdown in European regions amid rising Covid-19 cases limits the Oil consumption demand. Last week, OPEC agreed to extend oil output cut measures & the passage of U.S stimulus bill may remain major factors for Oil prices on long term basis. Slight selling pressure may be seen in Oil since the commodity is trading below the Moving Averages.

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Daily Outlook

WTI Oil

Intra Day
Near Day

Technical Levels

R3 67.78000
R2 63.78000
R1 62.24000
Turnaround 59.78000
S1 58.24000
S2 55.78000
S3 51.78000
By Research Team Thursday, Mar 25, 2021
US30

    • 11.45am ISTD1
    • High32466
    • Low32325
    • Close32405

US30 is trading at 32427, 0.19% up since previous day close. The global shares wobbled on Thursday after the U.S authority stated the chances of delisting the companies from U.S bourses who will not comply to auditing standard & require them to disclose any government affiliations; indirectly targeting the Chinese companies. This aggravates the tension between US-China; adding on with expected retaliatory move from Beijing against the human rights sanctions imposed on China by U.S, Europe & Britain. The disappointing comments from Secretary Yellen towards economic reforms further dragged down the US30. As seen in the chart, the index is trading near MA (10) & MA (20) & hence, a breakdown or reversal can be recommended.

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Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 33288.00000
R2 32853.00000
R1 32603.00000
Turnaround 32418.00000
S1 32168.00000
S2 31983.00000
S3 31548.00000
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