Daily Market ReviewMarket Review was generated at 09.30 GMT+2 on Monday 13th of March 2016 By Michalis Markides

General Market NewsAsian shares rose on Monday, taking their cue from gains on Wall Street after strong U.S. job data, though the mood was cautious as oil prices plunged to 3 1/2-month lows on fresh worries of oversupply. A confluence of major events this week including an expected interest rate hike by the U.S. Federal Reserve, a potentially divisive election in the Netherlands and a Group of 20 (G20) finance ministers' meeting kept many investors on edge. The Dutch election was upended by a diplomatic standoff with Turkish President Recep Tayyip Erdogan, as a spiral of increasingly hostile rhetoric threatened to overshadow the final stretch of campaigning and influence voting. U.K. house prices rose at their fastest pace in a year last month as high-value London property showed signs of a rebound. The 0.6 percent increase in values lifted the average to 297,832 pounds ($362,000), Acadata and LSL said in a report on Monday. Nevertheless, annual price growth softened for a 12th month, to 2.4 percent, the lowest since 2013.Forex NewsMixed sentiment prevailed in Asia, as the Asian traders digested Friday’s US jobs report and resorted to fresh USD selling across the board, further fueling the correction in the USD index. As a result, the Aussie gained the most in the Asian session alongside safe-havens such as the Yen, Swiss franc and gold. The continuation of the selling bias around the greenback is allowing GBP/USD to resume the upside and trade beyond the critical 1.2200 handle, or daily highs. The pair is advancing for the second session in a row for the first time since mid-February, extending the positive close on Friday to the area above the key barrier at 1.2200 the figure ahead of the opening bell in Europe today. The EUR/USD pair remains well bid, although struggles to extend its three-day winning streak beyond 1.07 handle amid renewed political concerns over French elections and monetary policy divergence between the Fed and ECB. Attention now turns towards a Big Week ahead, with plenty of risk events in stored for the markets, including the central banks’ policy decisions – FOMC, BOJ, BOE and SNB and speculations surrounding Article 50 trigger.

Metals and Commodities NewsCrude futures fell to their lowest since end of November in Asia on Monday, as robust growth in U.S. oil production threatens to foil OPEC’s plan to shift the market into a shortage. On the New York Mercantile Exchange, light, sweet crude futures for delivery in April CLJ7, -0.33% traded at $48.13 a barrel, down 44 cents or 0.9% in the Globex electronic session. May Brent crude LCOK7, -0.10% on London’s ICE Futures exchange fell 39 cents, or 0.7%, to $50.99 a barrel. U.S. oil prices shed more than 9% last week. Gold prices on Comex extend its post-NFP recovery into early Europe, as the bulls gain further momentum amid ongoing bearish correction in the US dollar across the board. Currently, gold jumps +0.50% to fresh three-day highs of $ 1207.55, extending the break beyond $ 1200 levels. Gold stages a solid rebound from five-week troughs as dismal US hourly wages data released on Friday, triggered a fresh corrective slide in the US dollar versus most of its majors, benefiting USD-sensitive gold. A weaker greenback makes USD denominated commodity cheaper for the foreign buyers and vice-versa.

Name S3 S2 S1 Pivot Points R1 R2 R3EUR/USD 1.0667 1.0673 1.0681 1.0687 1.0695 1.0701 1.0709

USD/JPY 114.47 114.58 114.67 114.78 114.87 114.98 115.07

GBP/USD 1.2144 1.2150 1.2160 1.2166 1.2176 1.2182 1.2192

USD/CHF 1.0086 1.0091 1.0095 1.0100 1.0104 1.0109 1.0113

USD/CAD 1.3438 1.3445 1.3452 1.3459 1.3466 1.3473 1.3480

EUR/JPY 122.39 122.46 122.57 122.64 122.75 122.82 122.93

AUD/USD 0.7518 0.7527 0.7534 0.7543 0.7550 0.7559 0.7566

NZD/USD 0.6892 0.6905 0.6914 0.6927 0.6936 0.6949 0.6958

EUR/GBP 0.8768 0.8773 0.8778 0.8783 0.8788 0.8793 0.8798

EUR/CHF 1.0781 1.0784 1.0790 1.0793 1.0799 1.0802 1.0808

GBP/CHF 1.2268 1.2274 1.2282 1.2288 1.2296 1.2302 1.2310

GBP/JPY 139.16 139.29 139.48 139.61 139.80 139.93 140.12

Gold 1201.24 1202.62 1204.24 1205.62 1207.24 1208.62 1210.24

Silver 16.928 16.964 16.990 17.026 17.052 17.088 17.114

Brent Oil 48.78 49.96 50.66 51.84 52.54 53.72 54.42

Crude Oil 47.18 47.55 47.80 48.17 48.42 48.79 49.04

Daily Support and Resistance LevelsDate Time

(GMT)Cur. Impact Event

MonMar 13

9:00am EUR Low Italian Industrial Production m/m

1:30pm EUR High ECB President Draghi Speaks

2:00pm USD Low Labor Market Conditions Index m/m

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.