Daily market review – March 8th 2017

china-flag-new

The trading on exchanges on Wall Street yesterday ended with a negative trend on speculation that the Federal Reserve will raise the interest rates the next week.
On a daily summary: the Dow Jones was down by 0.15%, the S&P 500 lost 0.3% and the Nasdaq fell by 0.3%.

China’s exports rose in February by 4.2% (in the local currency)
February imports rose by 44.7% (in the local currency) compared with an increase of 25.2% in January.

The country’s trade deficit was 60.36 yuan (8.74 billion dollars), compared with a surplus of 354.53 billion yuan in January.
This is the first trade deficit since 2014 of China.

Asian markets closed with a mixed trend, because of the fall on Wall Street last night and the rise of the Japanese yen against the US dollar.
Tokyo fell by 0.5%, Hong Kong added 0.4%, Shanghai dropped by 0.1% and Singapore climbed by 0.5%.

The European stock markets opened the day with a slight declines.
The FTSE losing 0.1%, the DAX decreasing by 0.3% and the CAC lost 0.4%.

Trading Opportunity
AUD/CAD

aud.cad 4h 8.3.17

On 4 hours chart the pair is on a rising trend.
As seen on the chart, there is a strong diagonal support line.
There is a diagonal resistance line who stopped the pair , but if the pair will go above the level of 1.0200, it will be a sign and an opportunity of the continued rise.

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