Daily market review – March 7th 2017

Group of black oil barrels

The trading on Wall street ended yesterday with declines.
In a daily summary the Dow Jones fell by 0.2%.
The S&P 500 went down by 0.3%, the Nasdaq rose by 0.4%.

The Oil prices are going down this morning on the background of concerns that the low growth forecasts in China will cause a reduction in global consumption. The WTI oil falling 0.1% to $ 53.1 per barrel and Brent oil dropping by 0.2%
to $ 55.9 per barrel.

The Reserve Bank of Australia left interest rates in a low level of 1.5%.
The Bank said that the global economic situation has improved and also the domestic consumption got stronger.

Asian trade is conducted with rising prices because of expectations the the US interest rate will rise next week.
Tokyo closed down by 0.2%, Hong Kong rising by 0.4%, the Shanghai trading is unchanged, Seoul rose by 0.5%, Singapore and Australia are rising by 0.2 %.

Trading Opportunity:
EUR/USD

eur.usd 1h 7.3.17

On an hour chart the pair is on a rising trend.
There is a resistance level at 1.0630.
If the pair will brake above it we can look to enter with a call trade for short up to a medium time frame trades.

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