Market Update 24/08/2021
As the markets seem to be settling down, we have seen the EURUSD pair break the 1.1700 support level, this break led the most traded pair to reach as low as the 1.1663 – 1.1670 range. Since then, it has recovered above the 1.1700 handle. Our support level can now be found at our most recent low 1.1663 – 1.1670 range, with our next resistance at the 1.1750 & 1.1805 a break of these 2 level to the upside may produce some momentum for the EUR/USD pair to move higher to the 1.1900 July highs.
Daily Currency Heatmap
On the Daily currency Heatmap we can see that the New Zealand Dollar, Australian Dollar and Canadian Dollar all gaining strength, with the first of the 3 being the strongest. The Swiss Franc is showing the most weakness against the other pairs in the recent days.
Since the NFP “mini crash” we have seen a recovery in the price of the precious metal vs the US Dollar, gold reached as low as $1681 before recovering above the $1800 price level. We could see $1800 as key psychological support for Gold, which is now trading at $1803.75. The $1795 area serves as our short-term support. The key level of resistance is the $1815 level; a break of this may see gold rise to the $1824 - $1832 price range. In the short term will gold retest the $1795 level, before trying to move higher?
*Source Investing.com Calculator
In the above table we can see that after the sharp spike in the gold volatility after the NFP result, the price volatility is slowly returning to more normal levels. This downward trend in the volatility should continue as the market settles down.
Stocks to Watch
Earnings: Below are the stocks to monitor for the rest of the week will announce their earnings.
|Monday, August 23, 2021||Stock||EPS Forecast||Revenue Forecast||Market Cap||Time|
|UK||Land Securities (LAND)||--||--||5.27B||--|
|US||Riot Blockchain (RIOT)||0.0486||30.86M||3.43B||After Market Close|
|Tuesday, August 24, 2021||Stock||EPS Forecast||Revenue Forecast||Market Cap||Time|
|US||Best Buy (BBY)||1.89||11.49B||28.09B||Before Market Open|
|UK||Johnson Matthey (JMPLY)||--||--||7.92B||--|
|US||Urban Outfitters (URBN)||0.7844||1.09B||3.8B||After Market Close|
|US||Grubhub Inc (GRUB)||0.27||561.83M||1.68B||--|
|Wednesday, August 25, 2021||Stock||EPS Forecast||Revenue Forecast||Market Cap||Time|
|US||Salesforce.com (CRM)||0.9216||6.24B||253.1B||After Market Close|
|US||Snowflake (SNOW)||-0.1475||256.13M||81.86B||After Market Close|
|Thursday, August 26, 2021||Stock||EPS Forecast||Revenue Forecast||Market Cap||Time|
|US||Dell Tech (DELL)||2.03||25.54B||77.01B||After Market Close|
|US||HP Inc (HPQ)||0.8376||15.87B||34.31B||After Market Close|
|US||Xpeng (XPEV)||-1.21||3.49B||33.96B||Before Market Open|
|US||Peloton Interactive (PTON)||-0.4432||923.52M||31.8B||After Market Close|
|Friday, August 27, 2021||Stock||EPS Forecast||Revenue Forecast||Market Cap||Time|
Dividends: The following stocks will be paying dividends over this week.
|Monday, August 23, 2021||Stock||Ex Div Date||Dividend||Type||Yield|
|US||Prudential Financial (PRU)||23-Aug||1.15||Quarterly||4.46%|
|Wednesday, August 25, 2021||Stock||Ex Div Date||Dividend||Type||Yield|
|US||Applied Materials (AMAT)||25-Aug||0.24||Quarterly||0.75%|
|Thursday, August 26, 2021||Stock||Ex Div Date||Dividend||Type||Yield|
|US||Analog Devices (ADI)||26-Aug||0.69||Quarterly||1.66%|
|UK||Aviva (AV)||26-Aug||14.35||12 months trailing||3.47%|
|UK||Diageo (DGE)||26-Aug||72.55||12 months trailing||2.06%|
|UK||Foxtons (FOXT)||26-Aug||0.18||12 months trailing||0.33%|
|UK||Land Securities (LAND)||26-Aug||34||12 months trailing||4.78%|
|US||NextEra Energy (NEE)||26-Aug||0.385||Quarterly||1.78%|
|UK||Plus500 (PLUSP)||26-Aug||81.9||12 months trailing||5.39%|
|Friday, August 27, 2021||Stock||Ex Div Date||Dividend||Type||Yield|