Oil continues his longest rally since December.
WTI crude oil rose by 0.2% to $ 53.5 per barrel and Brent crude oil rose by 0.3% to $ 56.4 a barrel.
The trading in Asian stock exchanges is on the decline in light of the strengthening of the Japanese yen and fears of escalation in the security tensions between the US, Syria and North Korea.
Tokyo is down by 1.2%, Hong Kong is down by 0.2%, Shanghai is losing 0.3%, and Seoul is trading slightly up 0.1%.
Singapore and Sydney are trading unchanged.
The Japanese yen is strengthening against the US dollar to its highest level this year. The dollar weakened against the yen to 109.54 yen per dollar.
The Euro and the pound weakened slightly against the dollar to $ 1.0602 and $ 1.2484 respectively.
China’s producer price index rose by 7.6 percent in March from analysts’ forecasts of a 7.5 percent rise and a 7.8 percent rise in February.
This is the fastest annualized increase since 2008, but the fall in February indicates a slowdown in industrial growth.
Trading Opportunity
AUD/CAD
There is a CALL opportunity on this pair.
After a downtrend, on a daily chart the pair reached a support area, around the level of 0.9980.
The RSI indicates of a decrease in volume of the power of the sells.
How can we act from here?
On 4 hours chart there is divergence against the range which was develop on the support area in the last few hours.
We can try and buy the pair from here.
The next level the pair should be reached is 1.0095.
The next level the pair should be reached is 1.0095.
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