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

General Market NewsThe 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 NewsThe 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 NewsOil 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.

Name S3 S2 S1 Pivot Points R1 R2 R3EUR/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 LevelsDate Time

(GMT)Cur. Impact Event

ThuMar 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

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