"This is a real win for riders who will now have access to thousands of yellow taxis in the Uber app." - Uber’S director of business development, Guy Peterson.

Shares of the ride-sharing company Uber (NYSE: UBER) Jumped 5% on Thursday after the company has made a deal to list New York City taxis on its app, Creative Mobile Technologies, and Curb Mobile, to list the city’s yellow taxis on its app. Passengers will pay about the same for a taxi ride as for an Uber X ride. Taxis are already available in the Uber app in other countries, including Spain, Germany, and South Korea.

“I will tell you we wanna get every single taxi in the world onto our platform by 2025,” Uber CEO, Dara Khosrowshahi told to CNBC in February.

EQUITIES

Wall Street ended higher on Thursday supported by stronger-than-expected weekly jobless claims and manufacturing PMI figures. US manufacturing PMI increased to 58.5 in March of 2022 from 57.3 in February. European stocks are expected to start higher ahead of the German IFO business climate data.

OIL

Crude oil futures traded near the session low as the traders and investors wait for the next developments in the Ukraine-Russia crisis. On Thursday, the oil prices closed lower after no new oil sanctions against Russia emerged from the gathering of world leaders.

CURRENCIES

In the currency market, the British pound retreated from the early session highs following the release of weaker-than-expected UK retail sales numbers. The data showed UK retail sales fell 0.3% in Feb, reversing from a 1.9% rise in January and compared to market forecasts of a 0.6% increase.

GOLD

The safe-haven metal reversed from the previous highs after the buyers failed to hold upside momentum. At the time of writing, the metal trades near the $1950 area.

Economic Outlook

On the data front, the US durable goods orders fell by 2.2% in February after jumping by 1.6% in January, the Commerce Department reported on Thursday. On the other hand, the weekly US initial jobless claims slid to 187,000, a decrease of 28,000 from the previous week's revised level of 215,000.

Moving ahead today, the important events to watch:

Germany – IFO business climate: GMT – 09.00

US –Pending home sales: GMT – 14.00

Coronavirus update:

Worldwide, more than 470 million people have been confirmed infected and more than 6.09 million have died. The United States has confirmed over 79.7 million cases and has had more than 970,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook and Review

EURUSD: The currency pair trading steady above 1.10. For today, the currency pair should find near term support near 1.1000/1.0960 whereas resistance levels could be 1.1045/90.

The important levels to watch for today: Support- 1.1000 and 1.0960 Resistance- 1.1045 and 1.1090.

GOLD: For today the first support for the Gold appears to be around $1947, in the short-term any break below $1947 the next downside level is to watch $1936/30. On the other upper side, the immediate resistance around $1965 any break and close above this level will open $1975.

The important levels to watch for today: Support- 1947 and 1930 Resistance- 1965 and 1975.

Quote of the day - "It's not always easy to do what's not popular, but that's where you make your money. Buy stocks that look bad to less careful investors and hang on until their real value is recognized." -John Neff.