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

General Market NewsMixed durable goods numbers were reported overnight, with the headline number up 1.8% vs 1.6% expected, while the details, ex transport, cap good orders and goods shopped all declined month on month . Pending home sales surprised with a month on month contraction of 2.8%. President Trump promised there will be something significant in his address to Congress with respect to infrastructure plans. He talked up a very large boost in the infrastructure budget by 10%, to be funded by budget cuts elsewhere, lifting defence stocks. A busy day for US economic reports awaits, including revised GDP numbers for the fourth quarter of 2016. We’ll also see new house-price data for December (via the S&P Corelogic Case-Shiller Housing Price Index) and the first look at the Conference Board’s US Consumer Confidence Index for February. Samsung's heir apparent Lee Jae-yong is to be formally indicted on multiple charges including bribery and embezzlement, prosecutors said. The case is tied to the scandal which led to the impeachment of the country's president, Park Geun-hye. Wal-Mart Stores Inc. announced an upgrade to its mobile app Tuesday that will allow customers using its pharmacies and money services to skip paperwork and save time waiting in lines by using “express lanes.”Forex NewsThe USD/JPY pair came under some renewed selling pressure on Tuesday and reversed majority of previous session's recovery move from nearly three week lows. The Sterling seems to have recovered the smile on Tuesday, now lifting GBP/USD back above the mid-1.2400s, or session tops. The pair is reverting two consecutive sessions with losses today, advancing to the area of daily highs in the vicinity of 1.245o amidst a softer tone in the greenback. The USD/CAD pair struggled to extend early Asian session up-move to 1.3200 neighborhood and has now drifted into negative territory to a fresh session low near 1.3170 region. The EUR/USD pair is seen reversing from daily lows of 1.0570 reached at Tokyo-open, peeking into the green zone just under 1.06 handle, as investors gear up for another round of Trump trade. The Kiwi is seen extending its drop below 0.72 handle, as the bears retain control amid a big miss in the January trade balance deficit of 285m. Also, a dip in the NZ business confidence numbers, as reported by ANZ, added to bearish momentum seen behind the NZD.

Metals and Commodities NewsOil prices crept higher Tuesday in thin volume as market players held back their bets ahead of more data points to trade on. On the New York Mercantile Exchange, light, sweet crude futures for delivery in April CLJ7, +0.02% traded at $54.18 a barrel, up $0.13 in the Globex electronic session. April Brent crude LCOJ7, +0.09% on London’s ICE Futures exchange rose $0.21, or 0.4%, to $56.14 a barrel. Gold prices turned sharply lower in late North American trade, erasing prior gains that brought the metal to the highest level since mid-November to finish the day fractionally lower. The move played out inversely of a parallel rebound in the US Dollar and US Treasury yields. Tellingly, the reversal occurred after the day’s stock of US news-flow was exhausted. This means it probably reflected the unwinding of near-term bets against the so-called “Trump trade”, which envisions an inflationary fiscal program steepening the Fed rate hike cycle, ahead of the US President’s speech tomorrow.

Name S3 S2 S1 Pivot Points R1 R2 R3EUR/USD 1.0463 1.0506 1.0547 1.0590 1.0631 1.0674 1.0715

USD/JPY 111.13 111.51 112.10 112.48 113.07 113.45 114.04

GBP/USD 1.2284 1.2333 1.2388 1.2437 1.2492 1.2541 1.2596

USD/CHF 0.9996 1.0019 1.0054 1.0077 1.0112 1.0135 1.0170

USD/CAD 1.3013 1.3047 1.3114 1.3148 1.3215 1.3249 1.3316

EUR/JPY 117.22 117.71 118.51 119.00 119.80 120.29 121.09

AUD/USD 0.7601 0.7630 0.7652 0.7681 0.7703 0.7732 0.7754

NZD/USD 0.7127 0.7155 0.7173 0.7201 0.7219 0.7247 0.7265

EUR/GBP 0.8373 0.8414 0.8461 0.8502 0.8549 0.8590 0.8637

EUR/CHF 1.0570 1.0596 1.0639 1.0665 1.0708 1.0734 1.0777

GBP/CHF 1.2394 1.2435 1.2493 1.2534 1.2592 1.2633 1.2691

GBP/JPY 137.83 138.39 139.31 139.87 140.79 141.35 142.27

Gold 1238.14 1244.27 1250.84 1256.97 1263.54 1269.67 1276.24

Silver 17.945 18.075 18.215 18.345 18.485 18.615 18.755

Brent Oil 54.70 55.28 55.61 56.19 56.52 57.10 57.43

Crude Oil 53.12 53.53 53.79 54.20 54.46 54.87 55.13

Daily Support and Resistance LevelsDate Time

(GMT)Cur. Impact Event

TueFeb 28

1:30pm CAD Medium RMPI m/m

1:30pm USD High Prelim GDP q/q

1:30pm USD Low Goods Trade Balance

1:30pm USD Low Prelim GDP Price Index q/q

2:00pm USD Low S&P/CS Composite-20 HPI y/y

2:45pm USD Medium Chicago PMI

3:00pm USD High CB Consumer Confidence

3:00pm USD Low Richmond Manufacturing Index

9:45pm NZD Low Overseas Trade Index q/q

10:30pm AUD Low AIG Manufacturing Index

11:50pm JPY Low Capital Spending q/y

Economic Calendar

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