During today’s early trading session, Asian stocks traded lower after weak Japanese data showed a decline in the difference between exported and imported goods, furthermore, the yearly and fourth quarterly GDP figures also showed lower than expected figures adding to concerns that Japan could struggle to reach their inflation target of 2%. Tomorrow, China will release more data including the yearly CPI, if the report is positive than this could push the price of gold up in the short term.

During the European session, the EUR/USD retreated slightly from 11 and a half year lows, however, the pair is trading with little volatility after Friday’s slump following the release of positive U.S. data. The Nonfarm Payrolls showed that 295,000 jobs were added during the month of February, far higher than the expected figure of 240,000. Today, the ECB started its €60 Billion a month bond buying program which could keep the Euro trading lower against a basket of major currencies, and push investors towards the stock market. Traders are now awaiting the outcome of the Greek bailout agreement as finance ministers hold talks later today.

During early U.S. trade, the Dollar remains supported against major currencies after Friday’s strong U.S. jobs report. The significantly stronger Nonfarm payrolls renewed expectations that the Fed is to raise interest rates mid year as the American economy continues to show improvement. USOil jumped at the open of Wallstreet, as the market reacted to data showing that the number of Crude stockpiles rose less than expected last week, the commodity is currently trading above $50/barrel.

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During today’s early trading session, Asian stocks traded higher after the European Central Bank’s press conference. ECB’s President, Mario Draghi laid out details of the quantitative easing program which is to start on March 9th. Implementing stimulus measures in the Eurozone, will drive market spectators to the stock market and in turn weaken the Euro. Elsewhere, shares in China rose following comments by Minister of Finance, Lou Jowei, he stated that he will increase the intensity of fiscal policy to ensure economic growth”.

During the European session, the Euro continues to drop sharply against the Dollar and has now reached its lowest level in over 11 years. The weaker Euro is an expected move following Thursday’s ECB press conference, ECB President Mario Draghi announced that €60 Billion a month of asset purchases will begin on March 9th. Following the details of the quantitative easing programme, European shares remain higher as the Euro declines.

During early U.S. trade, the Dollar is rallying against a basket of major currencies ahead of the Nonfarm Payrolls release later today. It is expected that 240,000 people were employed during the month of February. The U.S. unemployment rate will also be released, expected to have risen by 5.6%. Better than forecasted figures could influence the Fed to increase interest rates sooner.

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During today’s early trading session, Asian stocks edged higher as optimism over the Japanese economy boosted sentiment, Bank of Japan’s board member, Takahide Kiuchi, indicated that massive government bond buying is not necessary and called for the policy to be reviewed. Furthermore, the Dollar rallied against the Yen this morning following yesterday’s positive U.S. ISM Non-Manufacturing PMI. The weakening Yen swayed market spectators to the stock market.

During the European session, the Euro continued to trade lower after the pair dropped following weak PMI data from around the Eurozone. The European Central bank press conference is currently taking place where we expect to see high volatility as ECB officials discuss the recent interest rate decision, which was kept the same at 0.05%. Board members will also reveal critical details on the quantitative easing program which was approved last month. It is expected that the Euro will continue to trade lower as stimulus measures are implemented to lift the inflation rates.

During early U.S. trade, the Dollar continued to trade higher against a basket of major currencies as currency traders anticipate the ECB press conference, furthermore the USD remained supported following strong U.S. data indicating improved economic conditions in the service sector, this report could influence the Fed to increase interest rates sooner. The price of oil jumped yesterday after a main storage hub in Oklahoma increased by just 0.5M, however, more data showed that the overall U.S. Crude oil inventories revealed its biggest increase in supplies in 14 years. Traders are now awaiting the release of Fridays Nonfarm Payrolls expected to increase by 240,000, if the released figure is higher, then this could strengthen the Dollar over the short term.

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During today’s early trading session, Asian stocks continued to trade lower off the back of yesterday’s declining U.S. stock market, losses on Wall Street prompted investors to take profits in Tokyo.

During the European session, the Euro dropped against the Dollar following weak European data. The Spanish and Italian Services PMI showed worse than expected figures and more importantly the European Market Composite PMI, Services PMI and the German Services PMI came out negative. The GBP also declined against the Dollar after a week Services PMI during the month of February and is currently trading around 1.530, its lowest level in 3 weeks.

Traders are now awaiting Thursdays ECB Press conference, it is expected that ECB officials will announce the plans of its quantitative easing program. Implementing further stimulus could weaken the Euro against a basket of major currencies over the long term.

During early U.S. trade, The Dollar Index rallied to its highest level in nearly 3 weeks following U.S. economic reports, despite the ADP Nonfarm Employment change showing a lower than expected figure, the ISM Non Manufacturing PMI came out stronger indicating improved economic conditions for the Composite index. Traders are now awaiting the release of Fridays Nonfarm Payrolls expected to increase by 240,000, if the released figure is higher, then this could strengthen the Dollar over the short term. Recent and possible near future positive reports from the U.S. could influence the Fed to increase interest rates in the coming FOMC meetings.

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During today’s early trading session, Asian stocks edged lower as investors made gains from recent profits. Following the RBA announcement that they are to maintain the current interest rate, the AUD jumped 0.88% against the Dollar, market spectators had expected the rate to be brought down from 2.25% to 2%, furthermore, other positive reports showed that the Australian Building Approvals and Current accounts showed better than expected data. Tomorrow morning Australia will release the fourth quarterly and yearly Gross Domestic Product figures.

During the European session, the Euro traded lower despite positive data showing that the German Retail sales during the month of January had increased significantly to 2.9%. Traders are cautious before Thursday’s European Central Bank Press conference and the Interest rate decision. It is expected that ECB officials will announce the plans of its quantitative easing program and a detailed outlook of the economy and inflation. Implementing further stimulus could weaken the Euro against a basket of major currencies over the long term.

During early U.S. trade, the Dollar dropped sharply against the CAD following the release of strong data from Canada. 

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During today’s early trading session, Asian stocks traded higher as the Yen weakened due to comments made from a BoJ official, board member Koji Ishida indicated that reaching the 2% inflation rate in the near future looks bleak.

During the European session, the Euro dropped sharply against the Dollar despite positive European data. The German Unemployment change fell by 20,000 this month, higher than the expected figure of 10,000. The EUR/USD is currently trading below 1.129 as the U.S. released mixed data, the Core CPI came out positive, but the Core Durable Goods orders showed decreased manufacturing activity for the month of January. European stocks are trading slightly higher after Greece’s debt bailout extension was approved for further 4 months.

During early U.S. trade, the Dollar rallied against a basket of major currencies following the release of a number of important U.S. economic events. Crude oil is trading lower following the strengthening Dollar and also due to concerns of oversupply in the U.S., the commodity is currently trading below $50 a barrel.

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