Short recap
JP higher on weaker JPY, rest of Asia mixed
EU opened higher
US indices didn’t keep the gains on
Trump disappointment as he was short of details about his plans on
tax overhaul and infrastructure
Open to immigration reform deviating from campaign
rhetoric
Top US and CN officials discussed trade and economy
US growth slowed a bit but consumer spending strong
US PCE, next week NFPs and few Fed
speakers left – crucial for March hike
Brexit – banks will have 12-18 months for
transition
Will see how it goes as they push for 5 year period
Fiat Chrysler facing diesel emissions allegations
on some models
Volkswagen paid USD 2.9 bln to buy back 138k
diesel cars in US
EU Commission more flexible on changes in Telecom
sector
Apple doing marketing with USD 50 bln paid last
year to US based suppliers (like 3M, Corning…etc.)
Stocks trading at record highs on new iPhone expectations
Salesforce.com revenue up 27%
Opel-Peugeot – GM searching for opportunities, not
mentioning sale of Opel
TransCanada withdrew its legal case against US
over stopping Keystone XL (USD 15 bln)
Valeant looking at further revenue decline in 2017
amid competition. The company is still struggling under enormous debt burden,
likely the sales of non-core assets may not be sufficient.
US banks with record profits last year
Fidelity Investments and Charles Schwab
lowering trade commissions to zero
Another war in brokerage field boiling?
10 yr US Trys yield at 2.42%
10 yr Bund yield at 0.21%
USD supported by rising Mar 15 hike expectations
not the Trump talk
Now at 78% above 70-75% for Fed to move
Other sources say 65/70%
Fed Williams March hike “up for serious
consideration”
Room to go:
DXY towards 102.00/12 (high from Nov)
10 yr US Trys yield towards 2.52% (range
2.30/2.52%)
If DXY moves higher, stocks should have the room too
Fed hike can be further catalysator
Will see whether further US data and remaining Fed
speakers will seal the deal
EURUSD – as mentioned before the 1.0500-20 level a
battleground
Data
Wed:
UK: Manufacturing PMI – expected slightly higher (close
to three year high)
US: PCE inflation expected at
1.7%, hitting of 1.8% or above will be a strong signal for Fed to move in March
US: Consumer spending – expecting 0.3% increase
US: Personal income – expecting 0.3% higher
ISM Manufacturing – expecting no change
Fed’s Kaplan, Brainard speaking
Beige Book
Thu:
Fed’s Mester speaking
Fri:
US: ISM Non-manufacturing activity index – expecting no
change
US: NFPs only next week on Mar 10
Fed’s Yellen, Evans,
Lacker, Powell, Fisher speaking
Should you have any questions feel free to contact me
anytime.
Good luck Champs!
Mr Hawk
DISCLAIMER: This material was created for informational
purposes only and represents the Land of Trading team’s view of the past and
current economic and capital market environment. It is not an investment advice
and should not be viewed that way at all, and the creators of this material
cannot be held liable for any potential losses resulting from trading, where
despite this disclaimer someone would consider this material as an investment
advice. All rights reserved ©2016. Contact: landoftradingATgmailDOTcom
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