Euro zone inflation accelerated to the fastest pace since January 2013, providing fresh arguments to those who were calling for an exit from the European Central Bank’s monetary stimulus program.
The consumer prices rose 2 percent in February from a year earlier,

The unemployment rate in the Euro zone remained unchanged at 9.6% – the lowest level since May 2009.

 

Wall Street stock markets recorded yesterday the sharpest daily jump since the election victory of Donald Trump and the Dow Jones Industrial Average closed above the 21,000 points for the first time in its history, in view of expectations that the US economy is strong enough to withstand upload another of interest rate soon.

The Dow Jones Industrial Average jumped yesterday by 1.5% and broke for the first time the level of 21,000 points, only 24 trading days after he crossed the threshold of 20,000 points.

The optimism in the US since the beginning of the year was cooled slightly, because according to the “Beige Book” – the periodic report of the Federal Reserve on the state of the US economy published yesterday, the growth in all 12 districts of the Federal Reserve rate continued to be “modest to moderate” which characterized the American economy during most of the past eight years.

The US dollar continues to strengthen in the world after a senior Federal Reserve said on Tuesday that a new interest rate rise is expected soon.

Trading Opportunity:
USD/CAD

On a daily chart the pair is getting closer to a descending resistance diagonal line.
The resistance level is around 1.3400.
From there try to schedule entry for decline, and as long as the resistance level isn’t broke up.

The Wall Street stock markets closed yesterday with a slight decline, but completed the fourth consecutive month of increases.
On a monthly summary:
The S&P 500 jumped by 3.7% in February following an increase of 1.8% in January.
The Dow Jones index fell yesterday by 0.1%, but the leaped blue-chip stock index rose in February by 4.9%.
The Nasdaq Composite rose by 3.8% in February, the best month since July.

US economic data released yesterday showed that gross domestic product grew in the fourth quarter was at a slower pace than expected, but the consumer confidence jumped this month to a record 15 years.
The Index of manufacturing activity in the Chicago area jumped sharply in February this year.

The Indices in Asia this morning are rising.
Tokyo Stock Exchange rose by 1.4%, Hong Kong rising by 0.2%, Seoul going up by 0.3% and Shanghai by 0.5%.

China’s manufacturing activity index rose sharply than expected in February following a strong demand, and government incentives.
PMI of China’s manufacturing sector last month climbed to 51.6 points compared to 51.3 in January.

Forex – there is a positive trend for the US dollar, against the Japanese yen is gaining 0.6%, the Euro weakened by 0.2% against the dollar.
Commodities – WTI crude oil is rising by 0.2% to a price level of 54.12 dollars per barrel.
The Gold retreated by 0.9% to a price level of 1243.30 dollars per ounce.

Trading Opportunity
GBP/JPY

On a daily chart the pair is on a rising trend.
A triangle pattern is created, and the tendency is to look when the pair breaks the upper leg of the triangle.
A brake above the level of 142.00 could led us into a trade, to a long term expiry time.