The European Central Bank left all its key interest rates unchanged.
Also, the European Central Bank kept its quantitative-easing program unchanged as policy makers gauge whether a recent jump in inflation will endure.
The Governing Council reaffirmed its decision that monthly asset purchases will be reduced to 60 billion euros ($63 billion) from April, compared with 80 billion euros currently.
The price of the falls below 50 dollars the first time since December.
Yesterday it was reported that US weekly crude inventories reached to a peak together with a drop in oil exports to China last month.
The WTI oil price falling by 1.75% to 49.40 per barrel.
The price of oil Brent falls by 1.73% to 52.19 per barrel.
The European stock markets are traded with small declines this morning, towards the publish of the interest rate of the European Central Bank.
The FTSE weakened by 0.4%, the CAC decreasing by 0.3% and the DAX by 0.3%.
The ECB is expected to leave today the current level of interest, even though the inflation in the Euro zone reached the target of 2%.
The ECB President Mario Draghi is expected to announce the continuation of quantitative easing program.
The price of the gold fall back to $ 1,200 an ounce, the worst sequence declines since October, following the publication of US economic data which supported the assessment of a rate hike next week.
China producer price index for February rose by 7.8 compared with analysts’ forecasts an increase of 7.7% and 6.9% in January.
The PPI rising is because the demand in China to fueling commodity prices.
Trading Opportunity
USD/CHF
On an hour 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 1.0160, it will be a sign and an opportunity of the continued rise.
US private sector in February was producing 298 thousand new jobs compared with the previous forecast predicted an addition of 184 thousand jobs and as the figure of January pointed to the addition of 261 thousand jobs jobs.
The future contracts on the Dow Jones, Nasdaq 100 and S&P 500 all indicate of a decline of 0.1%.
The three indices closed on Tuesday with a negative trend for the second consecutive day – and the Dow Jones and S&P 500 closed by a decline one day after another for the first time since late January.
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
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.
Wall Street stock markets trading is conducted with price declines on speculation that the Federal Reserve will raise interest rates in the next week.
The index pharmaceutical companies companies in the S&P 500 falling by 0.8% after the president Donald Trump pledged on Twitter on encourage a competition in the market.
The trading on Wall Street expected to open with declines in light of the uncertainty surrounding the economic policies of Trump.
UK housing prices continued to rise, and in February they climbed 0.1% but below expectations.
In the last 12 months housing prices in the country rose by 5.1%.
The growth in the Euro zone in the fourth quarter of 2016 amounted to 1.7% compared to the fourth quarter a year earlier, and up 0.4% compared to the third quarter.
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