Daily market review – March 31st 2017

china-flag-new

The trading in Asian stock exchanges is underway in a mixed trend.
Yesterday the US markets closed higher, but the Trump meeting with the China’s president next week, puts the Asian markets in uncertainty.
This will be their first meeting and it will be a tense meeting.
Trump implicitly accused China during his election campaign of losing jobs in the United States.
Trump is trying to improve the US position in the world trade, which may come, among other things, at the expense of China.

In China, the manufacturing PMI rose above earlier forecasts.
Overall, the index rose to 51.8 points from 51.7 points and the February reading of 51.6 points.

In Japan, the core index rose by 0.2%, a sharp rise that didn’t recorded for two years.
At the same time, household expenditure fell more sharply than expected.

Trading Opportunity
GBP/CHF

gbp.chf 1h 31.3.17

On an hour chart, after a double wave up, the pair arrived to a resistance area, as the RSI indicator signalling on an over bought area.
The tendency now is to look for an opportunity to join in with a decline, part of a technical correction at least.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s