Easy Forex Signals Intraday Forex Trader Report
Stocks around the world are slipping following a strong earthquake along with a tsunami struck Japan and fears of damage to the Japanese economic climate are weighing on investors’ mood. The 8.9-magnitude earthquake that shook Japan Friday brought about a 10-meter high tsunami along seaside zones. Tsunami signals had been issued for almost 20 countries, including Hawaii and the West Coast. In addition, higher than predicted CPI in China signals fears that the Chinese economic system is getting too hot and the local government will be forced to slow it down by way of elevating interest rates.
The Feb CPI came in at 4.9%, a small fraction greater than the 4.8% expected, while the Industrial Production information came in at 14.1% up against the forecast 13.3%. Consequently, this will slow demand from China, effecting commodity exporters worldwide.
The Stoxx Europe 600 index was down 0.6% at 276.32 assisted a bit off the session’s lows as rumours that Portugal will be bailed out by the European Union attained momentum. London’s FTSE 100 index was down 0.4% at 5824.66, Frankfurt’s DAX fell 0.9% to 6999.32, and Paris’s CAC-40 was 0.7% lower at 3935.75. Futures on the Dow Jones Industrial Average fell 76 points to 11907 and futures on the Standard & Poor’s 500 index slid 6 points to 1283.50. Asian stock markets closed in the red Friday. Australia’s S&P/ASX 200 decreased 1.2% and South Korea’s Kospi Composite lost 1.3%. Hong Kong’s Hang Seng Index fell 1.5% and China’s Shanghai Composite shed 0.8%.
The Economic calendar is rather sparse today. The PPI in U.K. printed at 1.1% below 1.4% forecast and sharply lower January’s 2.3% increase. Canada’s employment increased a smaller amount than expected and declined from January’s 69.2K added jobs to just 15.1K added last month. The unemployment rate in Canada remained at 7.8% in February as in January; the consensus was for an advancement to 7.7%.
In forex trading, the USD and the Japanese Yen continue to gain from the rising risk aversion signals. Commodity connected foreign currencies such as CAD, AUD, NOK are among the biggest losers. NZD is amazingly trading higher. Commodities are dramatically lower with Silver leading the pack. Silver is down 2.63% to US$34.40 an ounce, gold is flat at US$1412.11 per ounce and crude oil WTI mark traded below US$100 per barrel for the very first time this month.
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