Market review 28.03.2017

1. Daily Market Review
Market Review was generated at 09.30 GMT+2 on Tuesday 28th of March 2016
By Michalis Markides

2. General Market News
The Dow Jones and S&P 500 closed lower, after early steep losses, as investors evaluated the recent stumbling blocks for Trump and prospects for his
ambitious economic agenda. Nasdaq recovered to close up 0.2% even though declines and gainers were in a 1:1 ratio. The FTSE 100 was the worst
performer, down 0.59%, while Germany's Dax was down 0.57%. France's CAC was the best performer with only a 0.07% loss. Risk-off trade hit mainly
European banks, Lloyds Banking Group PLC dropping 1.6%, UBS Group fell 0.6% and Société Générale declined 0.4%. Miners and oil companies were not
spared, with shares of metals giant Glencore PLC down 4.4% and energy heavyweight Royal Dutch Shell PLC gave up 0.3%. US data will dominate the
economic news today, including the Conference Board’s US Consumer Confidence Index for March. Meanwhile, keep your eye on the rising euro, which
has been rallying against the US dollar lately. Traders will also be watching the benchmark 10-year yield in the days ahead to see if it falls through the
2.31% support level. Today’s monthly update on how consumers rate US economic conditions is expected to reaffirm the upbeat data found in competing
sentiment metrics. Econoday.com’s consensus forecast sees the Conference Board’s Consumer Confidence Index slipping to 113.5 for March, down from
114.8 in the previous month. But that's not worrisome since the anticipated setback would keep the index near a 15-year high.
Forex News
USD continues to be offered after President Trump failed to pass the US healthcare bill and amid uncertainties regarding the rest of his policies. DXY
dropped just above the 200-day moving average at 98.685, which should now be the support. USDJPY has been settling down just above the 110 level and
we could have a short-term squeeze to get rid of the weak short before resuming the trend lower and attempt to test the 200-day MA at 108.28. GBPUSD
is now trading well above the support at the 100-day MA and is aiming for the 200-day MA at 1.2693 before Article 50 is triggered. After climbing to the
vicinity of 1.0900 the figure at the beginning of the week, EUR/USD is now looking to consolidate around 1.0860. Spot has surrendered part of Monday’s
strong gains and is now trading in line with the broader rangebound sentiment, while the greenback is attempting a tepid recovery after sinking to multi-
month lows on Monday when tracked by the US Dollar Index.
Metals and Commodities News
Gold prices held steady on Tuesday as investors looked to see if US President Donald Trump would be able to enact promised tax cuts and infrastructure
spending, with the dollar drifting from multi month lows in the previous session. Spot gold was mostly unchanged at $1,253.66/oz at 2.38am GMT, after
touching its highest in a month at $1,261.03 the day before. US gold futures inched down 0.2% to $1,253.7. Crude oil prices were up on Tuesday (March
28) compared to the previous day. The price of Brent oil was at $51.02, up from $50.52, while U.S. WTI crude was at $48.02 from $47.55. OPEC and non-
OPEC producers on December 10 reached their first deal since 2001 to jointly curtail oil output and ease a global glut after more than two years of low
prices that overstretched many budgets and spurred unrest in some countries.

3. Name S3 S2 S1 Pivot Points R1 R2 R3
EUR/USD 1.0694 1.0744 1.0805 1.0855 1.0916 1.0966 1.1027
USD/JPY 108.89 109.49 110.07 110.67 111.25 111.85 112.43
GBP/USD 1.2335 1.2404 1.2480 1.2549 1.2625 1.2694 1.2770
USD/CHF 0.9726 0.9769 0.9813 0.9856 0.9900 0.9943 0.9987
USD/CAD 1.3245 1.3282 1.3329 1.3366 1.3413 1.3450 1.3497
EUR/JPY 118.84 119.17 119.70 120.03 120.56 120.89 121.42
AUD/USD 0.7553 0.7579 0.7599 0.7625 0.7645 0.7671 0.7691
NZD/USD 0.6936 0.6968 0.7007 0.7039 0.7078 0.7110 0.7149
EUR/GBP 0.8547 0.8584 0.8617 0.8654 0.8687 0.8724 0.8757
EUR/CHF 1.0616 1.0651 1.0680 1.0715 1.0744 1.0779 1.0808
GBP/CHF 1.2244 1.2285 1.2332 1.2373 1.2420 1.2461 1.2508
GBP/JPY 137.08 137.53 138.26 138.71 139.44 139.89 140.62
Gold 1249.66 1251.73 1253.56 1255.63 1257.46 1259.53 1261.36
Silver 17.506 17.643 17.876 18.013 18.246 18.383 18.616
Brent Oil 49.09 49.56 50.16 50.63 51.23 51.70 52.30
Crude Oil 45.92 46.50 47.12 47.70 48.32 48.90 49.52
Daily Support and Resistance Levels
Date Time
(GMT)
Cur. Impact Event
Tue
Mar 28
1:30pm USD Low Goods Trade Balance
1:30pm USD Low Prelim Wholesale Inventories m/m
2:00pm USD Low S&P/CS Composite-20 HPI y/y
3:00pm USD High CB Consumer Confidence
3:00pm USD Low Richmond Manufacturing Index
3:10pm CAD High BOC Gov Poloz Speaks
6:00pm USD Medium FOMC Member Kaplan Speaks
Economic Calendar
Risk Warning: The trading of complex financial products such as foreign exchange, CFDs and Binary Options involves a high
level of risk and may not be appropriate for all investors. There is possibility that investors may lose more than their initial
investment.
Disclaimer: The information in this review comprises market updates and personal opinions and should not be taken or
misunderstood as investment advice.
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