Daily Market ReviewMarket Review was generated at 09.30 GMT+2 on Monday 6th of March 2016 By Michalis Markides

General Market NewsRetail spending in the Eurozone fell for a third month in January, surprising economic forecasters and raising questions about the recent increase in growth projections for the countries that share the euro. A parade of Fed officials last week advised that a rate hike was near, perhaps at next week’s monetary policy meeting. The hawkish chatter was capped with Friday’s speech by Fed Chair Janet Yellen, who reaffirmed that another round of monetary policy tightening is near. China lowered its tone on economic growth target for 2017 as the National People's Congress meeting began on Sunday, when the country’s leaders meet. Premier Li Keqiang said “the economic growth this year of around 6.5% or higher, if possible”. Germany's biggest bank announced plans for the huge share sale on Sunday along with another overhaul of its strategy. Deutsche Bank (DB) said it will seek to raise about €8 billion ($8.5 billion) in the coming weeks -- its fourth capital hike since 2010. The four add up to a total of about €30 billion ($32 billion), more than the bank's current market value. General Motors has announced a deal to sell its money-losing European operations to the French maker of Peugeot and Citroen cars. Announced early Monday, the agreement with France's PSA will include the Opel and Vauxhall brands. GM is also selling its European financial arm to PSA and French bank BNP Paribas (BNPQF). The combined value of the deals is about $2.3 billion. All three leading US indices were up marginally with the Nasdaq up 0.16%, leading the US indices. European markets finished mixed with the CAC 40 gaining 0.63%, while the Dax led the FTSE 100 lower; the two indices fell 0.27% and 0.11% respectively.Forex NewsThe EUR/GBP cross was seen consolidating Friday's strong up-surge beyond 100-day SMA hurdle, to nearly one-month highs. Traders now look forward to the Euro-zone economic docket, featuring the release of Retail PMI and Sentix Investor Confidence index, for some short-term trading impetus. However, the broader trend would remain dependent on this week's key event risk - ECB monetary policy decision on Thursday. The Sterling is navigating within a tight range vs. the greenback at the beginning of the week, with GBP/USD now testing the area of daily lows near 1.2280. The USD/JPY pair extended Friday's reversal move from two-week highs and traded with bearish bias for the second consecutive session. The EUR/USD pair looks frozen near 1.06 handle in early Europe, with the bears gearing up for a decisive break lower towards next support located near 1.0580 region

Metals and Commodities NewsOil prices traded lower on Monday, pulled down by higher U.S. oil rig count and the likelihood of a U.S. interest rate increase later this month. On the New York Mercantile Exchange, light, sweet crude futures for delivery in April CLJ7, -0.73% traded at $52.94 a barrel, down 39 cents, or 0.7%, in the Globex electronic session. May Brent crude LCOK7, -0.64% on London’s ICE Futures exchange fell 36 cents, or 0.6%, to $55.53 a barrel. Gold was little changed on Monday, supported by safe haven interest amid rising geopolitical tensions over North Korea and a weaker dollar. Investors are closely watching developments after the reclusive state fired four ballistic missiles into the sea off Japan's northwest coast, days after it promised retaliation over U.S.-South Korean military drills.

Name S3 S2 S1 Pivot Points R1 R2 R3EUR/USD 1.0586 1.0593 1.0607 1.0614 1.0628 1.0635 1.0649

USD/JPY 113.36 113.58 113.70 113.92 114.04 114.26 114.38

GBP/USD 1.2277 1.2282 1.2291 1.2296 1.2305 1.2310 1.2319

USD/CHF 1.0052 1.0065 1.0071 1.0084 1.0090 1.0103 1.0109

USD/CAD 1.3369 1.3373 1.3378 1.3382 1.3387 1.3391 1.3396

EUR/JPY 120.47 120.65 120.78 120.96 121.09 121.27 121.40

AUD/USD 0.7575 0.7579 0.7587 0.7591 0.7599 0.7603 0.7611

NZD/USD 0.7013 0.7018 0.7028 0.7033 0.7043 0.7048 0.7058

EUR/GBP 0.8614 0.8620 0.8627 0.8633 0.8640 0.8646 0.8653

EUR/CHF 1.0684 1.0689 1.0697 1.0702 1.0710 1.0715 1.0723

GBP/CHF 1.2366 1.2376 1.2387 1.2397 1.2408 1.2418 1.2429

GBP/JPY 139.48 139.71 139.86 140.09 140.24 140.47 140.62

Gold 1229.40 1230.95 1234.05 1235.60 1238.70 1240.25 1243.35

Silver 17.908 17.923 17.950 17.965 17.992 18.007 18.034

Brent Oil 54.49 54.79 55.35 55.65 56.21 56.51 57.07

Crude Oil 53.02 53.11 53.19 53.28 53.36 53.45 53.53

Daily Support and Resistance LevelsDate Time

(GMT)Cur. Impact Event

MonMar 6

11:10am EUR Low Retail PMI

11:30am EUR Low Sentix Investor Confidence

1:30pm GBP Medium MPC Member Hogg Speaks

5:00pm USD Medium Factory Orders m/m

10:00pm USD Medium FOMC Member Kashkari Speaks

Economic Calendar

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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.