Markets FX

EUROPEAN DAILY MARKET REVIEW

March 1 , 10:26 GMT

European stocks markets and shares advanced today heading for their longest winning streak since October.

London Stock Exchange Group Plc gained 7.5 % after Intercontinental Exchange Inc. confirmed considering a counter bid for the company.

U.K. shares are fluctuating today, as trading in March got underway. The U.K’s FTSE 100 rallied 0.2% to 6,110.17 after opening in the red.

Shares of U.K. bank Barclays suffered after the company reported further restructuring, a dividend cut and an 8 % loss in statutory pre-tax profit last year to £2.1 billion ($2.9 billion).

Euro-area factories reduced its prices at the fastest rate in the last three years in February. Markit Economics said the price gauge of its manufacturing Purchasing Managers Index dropped below the key 50 level, falling to the lowest since June 2013.

German joblessness declined for a fifth month in a row in February, which signals in that economic momentum will continue to be underpinned by household spending. The number unemployed labor units dropped by a seasonally adjusted 10,000 to 2.72 million, data from the Federal Labor Agency in Nuremberg showed today.

CRUDE OIL

March 1 , 08:34 GMT

Crude оil futures market initially slipped on Monday’s session but then found the level of $32 to be supportive enough to turn things back around.

In this way, it seems in case the level above $34 could be the beginning of pretty significant resistance. In reality, on Friday, the $35 level supplied a solid resistance to turn the market around completely and form a shooting star.

Several market analysts still suggest that in the longer-term a dropping pattern of the oil market will take place.

However, there are multiple dynamic factors and headlines coming across the market that imply in that OPEC members are starting to perhaps agree on production cuts.

Furthermore, there is a permanent ceiling in the oil market as far as traders and investors can see, because quite frankly many industry experts do not have the demand out there necessary.

Additionally, US shale oil producers stated that $40 a barrel is more than enough for them to surge back into the market with increased vigor, driving the supply up again.

DAILY MARKET SIGNALS
EUR/USD Entry: 1.0890
Strategy: SELL
Take Profit: 1.0840 Stop Loss: 1.0950

DAILY MARKET SIGNALS
USD/CAD Entry: 1.3539
Strategy: SELL
Take Profit: 1.3470 Stop Loss: 1.3580