Mar 01


  • BY:
  • March, 01st, 2016 20:48 +00:00

Good evening,

US indices are rallying with the S&P500 gaining 42.29 points at 1,974.52 (+2.19%) and the Nasdaq Composite is at 4,676.03 (+2.59%).  Gold is nearly flat at 1,236.2 $/oz and Crude Oil is trading at  34.45 $/barrel (+1.78%).

EurUsd is flat at 1.0871 and UsdJpy is at 113.89 (+1.09%). GbpUsd is up 44 pips at 1.3956 (+0.32%).

Better than expected US economic data gave positive market sentiment that lifted indices to 7 week high, but all the Chinese figures released last night were below the consensus and the S&P500 made a 50% Fibonacci retracement from its 2016 low, thus the rally should be seen as a bullish wave in a bearish framework.

Tomorrow the most relevant macro data will be the Eurozone PPI at 10:00 GMT, but the Swiss Franc should be quite volatile during GDP data at 06:45 GMT.  At 15:30 EIA Crude Oil Stocks Change.