Nicolas Sarkozy, France’s President, said that the country may consider withdrawing for Schengen zone unless more efforts are put in stopping illegal immigration. Sarkozy speaking at President’s election rally stressed that the progress has to be made during next 12 months otherwise France will exit Schengen zone. Illegal immigration is expected to be the core issue during elections in France.
Crude oil futures eased down during the Asian session on Monday as traders started to cash out from the market after crude oil moved higher on the positive US labour data. Light, sweet crude oil futures for April delivery traded at 106.92 US Dollars per barrel on the New York Mercantile Exchange, tumbling.
According to Lloyds Bank Corporate Markets, concern of losing their jobs has been decreasing among Britons for the second month in the row. Job security index gaied 2 points in February, currently standing at -22 points. Bankers believe the labour market has still a long way to go to reach the pre-crisis levels of job security.
The official SNB exchange rate for EUR/CHF is 1.2057 today; yield on 10-year Swiss Confederation bonds decreased to 0.72%. 3-month LIBOR CHF stands at 0.09%, and is within the target range of 0.00-0.25%. Swiss SMI stock index has lost 0.04% since the opening bell, and is currently fluctuating around 6185 points.
Japan’s Nikkei Stock Average retreated after gains in previous two sessions as Yen appreciated and China reported a record high trade shortfall in February. Nikkei 225 index edged 0.4% or 39.88 points down to 9,889.86 with eight of ten industries posting losses. Nippon Paper Group led the drop among paper firms on a report which showed the wholesale prices of high-quality paper fell. Panasonic added 0.7% on news it plans to increase its sales of appliances by the end of March 2016.
Daily maximum: 1.3135
Daily minimum: 1.3078
The single currency depreciated today versus the greenback after the Greece completed the biggest sovereign debt restructuring in history. Daily Resistance: 1.3235; 1.3347; 1.3416. Daily Support: 1.3054; 1.2985; 1.2873. Daily Bias: Strongly bearish.
Daily maximum: 108.14
Daily minimum: 107.5
EUR/JPY slipped slightly today, breaching the daily pivot point at 108.18. Daily Resistance: 108.66; 109.13; 109.61. Daily Support: 107.71; 107.23; 106.76. Daily Bias: Bearish.
Daily maximum: 1.5695
Daily minimum: 1.5606
The British pound fell against the US dollar, heading towars a support level at 1.5551. Daily Resistance: 1.5779; 1.5891; 1.5949. Daily Support: 1.5609; 1.5551; 1.5439. Daily Bias: Strongly bearish.
Daily maximum: 82.43
Daily minimum: 82.11
USD/JPY declined for a second day, after rising sharply by 87 peeps on Friday. Daily Resistance: 82.90; 83.35; 84.07. Daily Support: 81.73; 81.01; 80.56. Daily Bias: Bullish.
Daily maximum: 0.9218
Daily minimum: 0.9178
USD/CHF Monday slid modestly towards the support level at 0.9106; technical indicators suggest the pair is likely to recover in the short-term. Daily Resistance: 0.9235; 0.9285; 0.9364. Daily Support: 0.9106; 0.9027; 0.8977. Daily Bias: Strongly bullish.
Euro zone ministers to sign off Greek cash, grill Spain
Euro zone finance ministers will sign off on a second bailout for Greece on Monday and shift their focus to Spain, whose government looks set to violate newly agreed EU budget rules by missing its deficit target again this year.
U.S. stock indexes pause after win streak
U.S. stocks were roughly flat Monday following a three-session rise as Europe readied to seal Greece’s rescue package and after China reported a large monthly trade deficit.
Japan Machinery Orders Beat Expectations
Japanese core machinery orders rose more than expected in January from the previous month, a bright sign for economic growth in the first quarter of the year as a pickup in global trade and demand related to disaster reconstruction are beginning to spur growth at home.