Market review 02.03.2017

1. Daily Market Review
Market Review was generated at 09.30 GMT+2 on Thursday 2nd of March 2016
By Michalis Markides

2. General Market News
The Eurozone’s macro profile receives an update today via two key reports: unemployment for January and the flash estimate of consumer-price inflation
for February. Later, the main event for US data today is the weekly release of initial jobless claims. Shares rose in Asia on Thursday after investors bet big
on U.S. stocks overnight, pushing the major indexes to record highs. Tokyo shares were buoyed by the dollar's gain against the Japanese yen. The Dow
Jones industrial average surpassed 21,000 points for the first time in what was the biggest gain for the blue-chip index so far this year. Optimism over
corporate tax cuts, deregulation and other business-friendly policy proposals reiterated by President Donald Trump during a speech before Congress
helped fuel the rally. Banks were the biggest gainers amid heightened expectations that an improving economy will lead to higher interest rates. The Dow
jumped 1.5 percent to 21,115.55. The Standard & Poor's 500 index gained 1.4 percent, to 2,395.96 in its biggest single-day gain. The Nasdaq composite
index also added 1.4 percent, to 5,904.03. Snap Inc., maker of the disappearing photo app dependent upon the fickle favor of the millennial demographic,
is going public at a valuation at least twice as expensive as Facebook Inc., and four times more costly than Twitter Inc. Snap sold 200 million shares in its
initial public offering at $17 each, according to a statement Wednesday. At that price, it has a market value of about $20 billion, based on 1.16 billion
shares outstanding after the IPO. That implies a multiple of about 21.4 times EMarketer’s estimate for Snap’s 2017 advertising sales.
Forex News
The dollar gained against the yen and euro during early Asia trade Thursday, after the latest hawkish remarks from a Federal Reserve official further
fuelled expectations that the next U.S. rate increase will come at the Fed's March policy meeting. The USD/JPY pair continued to gain traction for the
fourth consecutive trading session and is now building on to its momentum back above 114.00 handle. After yesterday's failed attempt to recover back
above 0.7700 mark, the AUD/USD pair came under some renewed selling pressure on Thursday in wake of disappointing trade-balance data. The bears
take a breather from the overnight sell-off, allowing EUR/USD to breathe a sigh of relief in the Asian session. The USD/CAD pair prolongs it’s upwards
trajectory for the fourth straight session this Thursday, and remains on track to book a weekly rise amid persistent broad based US dollar strength.
Metals and Commodities News
Oil prices fell further Thursday, depressed by the latest pick up in U.S. crude stockpiles and production. U.S. crude inventories rose to a historical high last
week, increasing by 1.5 million barrels to 520.2 million barrels, according to data by the U.S. Energy Information Administration. The build was largely
driven by significant imports from Saudi Arabia, Iraq, and Canada, as well as strong domestic production which rose above 9 million barrels for the second
straight week. Gold prices slipped on Thursday as the dollar firmed on hawkish comments from US Federal Reserve officials that stoked expectations of a
US interest rate hike in March. Spot gold fell 0.2% to $1,246.14/oz by 2.55am GMT. On Monday, the metal rose to $1,263.80, its highest since November
11. US gold futures fell 0.3% to $1,246.60.

3. Name S3 S2 S1 Pivot Points R1 R2 R3
EUR/USD 1.0433 1.0473 1.0510 1.0550 1.0587 1.0627 1.0664
USD/JPY 111.59 112.15 112.94 113.50 114.29 114.85 115.64
GBP/USD 1.2117 1.2197 1.2246 1.2326 1.2375 1.2455 1.2504
USD/CHF 0.9963 1.0006 1.0048 1.0091 1.0133 1.0176 1.0218
USD/CAD 1.3211 1.3247 1.3286 1.3322 1.3361 1.3397 1.3436
EUR/JPY 118.28 118.73 119.34 119.79 120.40 120.85 121.46
AUD/USD 0.7571 0.7602 0.7639 0.7670 0.7707 0.7738 0.7775
NZD/USD 0.7000 0.7049 0.7096 0.7145 0.7192 0.7241 0.7288
EUR/GBP 0.8443 0.8475 0.8527 0.8559 0.8611 0.8643 0.8695
EUR/CHF 1.0587 1.0608 1.0624 1.0645 1.0661 1.0682 1.0698
GBP/CHF 1.2227 1.2303 1.2354 1.2430 1.2481 1.2557 1.2608
GBP/JPY 138.04 138.77 139.30 140.03 140.56 141.29 141.82
Gold 1229.70 1233.30 1241.10 1244.70 1252.50 1256.10 1263.90
Silver 18.106 18.178 18.311 18.383 18.516 18.588 18.721
Brent Oil 55.24 55.74 56.05 56.55 56.86 57.36 57.67
Crude Oil 52.69 53.16 53.50 53.97 54.31 54.78 55.12
Daily Support and Resistance Levels
Date Time
(GMT)
Cur. Impact Event
Thu
Mar 2
9:30am GBP High Construction PMI
10:00am EUR Medium CPI Flash Estimate y/y
10:00am EUR Medium Core CPI Flash Estimate y/y
10:00am EUR Low PPI m/m
10:00am EUR Low Unemployment Rate
1:30pm CAD High GDP m/m
1:30pm USD High Unemployment Claims
6:00pm CAD Medium Gov Council Member Lane Speaks
11:30pm JPY Low Household Spending y/y
11:30pm JPY Low National Core CPI y/y
11:30pm JPY Low Unemployment Rate
Economic Calendar
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Disclaimer: The information in this review comprises market updates and personal opinions and should not be taken or
misunderstood as investment advice.