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Futures on major US indices were trading mixed at the time of writing. Dow Jones and Nasdaq 100 futures inched up to 20660 and 7532 respectively at the time of writing.

In the major news overnight, the S&P 500 rose 9.38% to close at 2,447.33 on Tuesday. It was its best one-day percentage gain since October 2008. The DJIA rallied 11.37% to end at 20,704.91 on Tuesday. It was its best day in 87 years.

On the economic front, the API reported late on Tuesday that U.S. crude inventories dropped by 1.25 million barrels for the week ended March 20. Inventory data from the EIA will be released today at 10:30 am ET. The EIA is expected to report a decline of 2.774 million barrels in US crude inventories for the week ended 20th March.

European equities were trading higher on Wednesday morning. In the Cash Markets, the FTSE 100 and the CAC 40 were up 1.44% and 1.23% respectively at the time of writing.

On the data front, UK CPI (YoY) for February released earlier today came in at 1.7%. The CPI was in line with market expectations.

Asia-Pacific markets closed in positive territory on Wednesday. The Shanghai Composite added 2.17% to close at 2,781.59. The Hang Seng rose 3.81% to finish its trading day at 23,527.19. The ASX 200 gained 5.54% to close at 4,998.10.

On the data front, New Zealand’s Exports for February released earlier today came in at 4.92 New Zealand dollars. Exports were above the consensus estimates of 4.3 New Zealand dollars.

US Dollar Index futures inched down 0.32% to 101.48 at the time of writing. The US dollar steadied today as a fresh increase in the China-linked virus cases kept markets on edge and the currency’s funding market tight.

In the Commodity Markets, Silver and Gold inched down to 14.260 and 1618.03 respectively at the time of writing. In news related to commodity markets, Crude prices rose today on hopes Washington will soon approve a massive aid package to stem the economic fallout of the pneumonia-causing virus pandemic.

In the Cryptocurrency Markets, Bitcoin and Ethereum fell to $6,616.50 and $137.24 respectively at the time of writing. In news related to the cryptocurrency markets, prices of major cryptocurrencies were trading lower on Wednesday morning. Bitcoin’s market capitalization dropped to $120.99B at the time of writing.

 

TECHNICAL SUMMARY

 

GBP/USD

GBP/USD D1

TRADE SUGGESTION- STOP BUY AT 1.19240 TAKE PROFIT AT 1.19690 STOP LOSS AT 1.19020

 

USD/JPY

USD/JPY D1

TRADE SUGGESTION-STOP BUY AT 111.300 TAKE PROFIT AT 111.700 STOP LOSS AT 111.100

 

EUR/JPY

EUR/JPY D1

TRADE SUGGESTION- STOP BUY AT 120.520 TAKE PROFIT AT 120.920 STOP LOSS AT 120.320

 

AUD/USD

AUD/USD D1

TRADE SUGGESTION- STOP BUY AT 0.60330 TAKE PROFIT AT 0.60590 STOP LOSS AT 0.60200

 

NATURAL GAS

NATURAL GAS D1

TRADE SUGGESTION- LIMIT BUY AT 1.720 TAKE PROFIT AT 1.755 STOP LOSS AT 1.702

 

SILVER

SILVER D1

TRADE SUGGESTION- LIMIT BUY AT 14.350 TAKE PROFIT AT 14.650 STOP LOSS AT 14.200

 

NASDAQ 100

NASDAQ 100 D1

TRADE SUGGESTION- LIMIT BUY AT 7610 TAKE PROFIT AT 7710 STOP LOSS AT 7560

 

DOW JONES

DOW JONES D1

TRADE SUGGESTION- LIMIT BUY AT 21000 TAKE PROFIT AT 21400 STOP LOSS AT 20800