Trade for Today

     Many are concerned about disinflation in the Eurozone — the latest data released last week revealed an unexpected drop in year-on-year inflation to 0.7% — but. Draghi said low inflation over a prolonged period was a risk that could not be ignored, but he attributed the disinflation trend to low food and energy prices, and said he does not see deflation, citing stable inflation expectations. These comments gave the euro an additional lift.

      

U.S. stocks rose, sending benchmark indexes to their best gains this year, as claims for unemployment benefits fell and earnings from Walt Disney Co. The Standard & Poor’s 500 Index (SPX)climbed 1.2 percent to 1,773.43 at 4 p.m. in New York. The Dow Jones Industrial Average to added 188.30 points, or 1.2 percent, to 15,628.53. Both measures capped their biggest gains since Dec. 18.

   

All eyes on Payrolls which are expected to have risen by 185,000 in the first month of this year, according to the consensus of 101 economists polled by Thomson Reuters. This is lower than the 214,000 per month average from August through November, but probably will be enough for the Federal Reserve to continue tapering. Projections ranged from 125,000 to 290,000.

Following are trade for today,

• Sell #DJIA (Dow jones) at 15705 stop above 15800 target 15520
  
• Buy Aud/Cad at 0.9890 stop below 0.9820 target 0.9960/1.0020