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

General Market NewsThe 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 NewsUSD 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 NewsGold 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.

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 LevelsDate Time

(GMT)Cur. Impact Event

TueMar 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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