Daily market review – March 10th 2017

index

Wall Street rose for the first time in four days ahead of the employment report.

Wall Street stock exchanges closed steadily but Dow Jones and the S&P 500 managed to extract for the first increase in four days ahead of the publication of the US employment report later in the day, and after the president of the European Central Bank (ECB) has estimated that there are less chances the the economic outlook will risk the Euro.

The S&P 500 closed up by 0.1% after declining in the previous three trading days. The Dow Jones and the Nasdaq climbed less than 0.1%.

The Crude oil fell below the threshold of 50 dollars a barrel for the first time this year, due to concerns that an increase in US oil production harms the impact of output cuts OPEC countries on prices in global oil markets.
The WTI oil close at 49.28 dollars a barrel, the lowest close since November 29 – after a decline of 2%.

The Asian stock markets trading is conducted today by rising prices, after the fall in the bond market.

Trading Opportunity
EUR/JPY

eur.jpy 4h 10.3.17

On 4 hours the pair is reaching a resistance area around the level of 123.00.
A bearish divergence is developing, and if the resistance will hold the pair, we can look to enter with put trades from around that level.

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