Daily market review – March 16th 2017

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The Federal Reserve raised the base rate in the United States range of 0.75% to 1%, compared with 0.5% -0.75% so far.
The rate hike yesterday was only the third increase since 2006.

China’s central bank raised a short-term interest rates for the second time in two months following the increase in the US interest rate of 1%.
Term interest rates of one week, two weeks and 28 days each rose by 0.1%. Seven-day rate rose to -2.45%.

In Japan, the central bank has decided to leave unchanged the interest rates at zero, and also kept short-term interest rate of 0.1% negative.
The Bank announced that it will continue as long as buy Japanese government bonds at an annual rate of 80 trillion yen (705 billion dollars).

The European stock exchanges trading takes place this morning with rising prices following the trend in Asia and on Wall Street.
The FTSE rising by 0.6%, the DAX climbed by 1.1%, the CAC IS stronger by 0.6%.

Trading Opportunity
GBP/JPY

gbp.jpy 4h 16.3.17

On 4 hours chart the pair convergent in a triangle pattern.
We are waiting for the decision of the market forces which way the pair is about to go, up or down.
A call trade would be from the price level of 140.50 and up.
A put trade would be from a price level of 138.50 and down.

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