Easy Forex Signals Daily Fx Trader Update

Stocks across the world are falling after a potent earthquake along with a tsunami struck Japan and fears of injury to the Japanese financial system are balancing on investors' mood. The 8.9-magnitude earthquake that shook Japan Friday induced a 10-meter high tsunami along seaside zones. Tsunami signals have been issued for nearly twenty countries, such as Hawaii and the West Coast. Additionally, higher than predicted CPI in China signals fears that the Chinese economic system is getting too hot and the local government will probably be pressured to slow it down by way of increasing interest rates.

The Feb CPI came in at 4.9%, a small fraction greater than the 4.8% anticipated, while the Industrial Production statistics came in at 14.1% against the forecast 13.3%. This in turn will slow demand from China, effecting commodity exporters globally.

The Stoxx Europe 600 index was down 0.6% at 276.32 assisted a bit off the session's lows as supposition that Portugal would be bailed out by the European Union gained traction. 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 dropped 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 Financial calendar is rather sparse today. The PPI in U.K. printed at 1.1% below 1.4% estimate and greatly lower January's 2.3% increase. Canada's employment expanded less than predicted and dropped 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 had been for an improvement to 7.7%.

In forex trading, the USD and the Japanese Yen continue to benefit from the rising risk aversion signals. Commodity related currencies such as CAD, AUD, NOK are amongst the greatest losers. NZD is remarkably 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.

By: Felicia Ganterwitz

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