The Euro climbed above the level of 1.06 against the US dollars for the first time since Friday, after the chairman of the European Central Bank (ECB), Mario Draghi, said the bank “has no more sense of urgency” to take additional monetary expansion measures.

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.

The trading on Wall street ended yesterday with declines.
In a daily summary the Dow Jones fell by 0.2%.
The S&P 500 went down by 0.3%, the Nasdaq rose by 0.4%.

The Oil prices are going down this morning on the background of concerns that the low growth forecasts in China will cause a reduction in global consumption. The WTI oil falling 0.1% to $ 53.1 per barrel and Brent oil dropping by 0.2%
to $ 55.9 per barrel.

The Reserve Bank of Australia left interest rates in a low level of 1.5%.
The Bank said that the global economic situation has improved and also the domestic consumption got stronger.

Asian trade is conducted with rising prices because of expectations the the US interest rate will rise next week.
Tokyo closed down by 0.2%, Hong Kong rising by 0.4%, the Shanghai trading is unchanged, Seoul rose by 0.5%, Singapore and Australia are rising by 0.2 %.

Trading Opportunity:
EUR/USD

On an hour chart the pair is on a rising trend.
There is a resistance level at 1.0630.
If the pair will brake above it we can look to enter with a call trade for short up to a medium time frame trades.

 

After it looks as if Greece’s economy starts to show signs of recovery, today the country’s statistics office released a data illustrating that the country is still stuck in deep mud.
The data indicate that the country’s economy shrank in the fourth quarter at a rate much faster than thought earlier.
In the fourth quarter, Greece’s economy shrank by 1.2% compared to the third quarter.

The US employment report will be published on Friday.
Analysts’ forecasts are to an increase of 195 thousand persons in employment in February.
If the report data would be stable, as predicted by analysts, the chances of a US interest rate rise next week by the Federal Reserve will be higher.

Central banks of China and Europe will publish this week the interest rate decision for March.
China lowered its growth targets to the year of 2017 due to the continued slowdown in the world’s second largest economy and the government’s attempt to promote reforms that will protect the country from financial hazards.
The Prime Minister of China said that the country’s economy is expecting a grow of 6.5% this year.

The ECB is expected to leave interest rates unchanged.
The Bank will continue the policy of quantitative easing, it was announced by the Bank President Mario Draghi in December.
However, inflation in the Euro zone in February amounted to 2%, the target set by the bank while the underlying inflation in the Euro area remained unchanged for the third month in a row , 0.9%.
These figures present a challenge for the Bank in choosing the correct monetary stimulus.

Trading Opportunity
GBP/CHF

On 4 hours the pair is making his way to a support area, around the level of 1.2345.
An opportunity to enter with a CALL trade can get under way as long as the pair doesn’t brake down this support area, and after the pair will broke the diagonal resistance line, around the level of 1.2400.

The European stock markets trading is conducted price declines following the trend in Asia and New York.
The FTSE drops by 0.3%, the DAX loses 0.5%.

German retail sales fell unexpectedly by 0.8% in January compared to December, while the forecasts expected a small increase of 0.2%.