Short recap
Asian markets on positive note
EU to open higher
BoJ planning to be more transparent with announcing
specific dates for bond buying operations (likely to avoid recent surprise
moves)
Kuroda: ready to easy more
US Treasury Secretary Mnuchin-IMF Lagarde: IMF to
evaluate FX levels and police FX policies
Fed Mester – at full employment, prices raising
but don’t want to surprise the markets
US VP Pence delivered the marketing message of support
for EU and NATO this weekend
But week earlier Chief Strategist Bannon had a
different view
Spain is really firing at all cylinders with 2016
exports of EUR 255 bln from EUR 160 bln in 2009
Proof that the reforms they did earlier with weaker EUR
work well for them
DAX to push higher behind 12 000 mark on strong
data
US stocks with strong momentum but getting overvalued
Usually stocks grow with rising bond yields until 10 yr
US Trys hit the levels around 3.9%
So there is still room but since US election we’ve got
too high to fast
Daimler planning to build a plant near Moscow to
produce Mercedes-Benz cars
It is a first major investment after announcing sanctions
Verizon agreed with Yahoo on lower takeover
offer due to cyber attacks on Yahoo
EUR weakness not USD strength
Daily pivot: 1.0558
1st daily support: 1.0502
2nd daily support: 1.0468
3rd daily support: 1.0412
76.4% Fibo: 1.0455, the level 1.0450/60 next strong
support range
Low from 1997 at 1.0416
Then the lows of 1.0340 only
Gold weakness seen more against EUR than USD
XAUEUR printing new highs
Brent crude getting tighter as we get closer to
potential squeeze
As calendar spreads for upcoming expiries rose
substantially
What in turn can make the storing of oil outside US a
losing trade
10 yr US Trys yields lower on softer PMI data
yesterday but erased the loses later on
Currently at 2.45%, still below important resistance at
2.51/52%
GE-FR spread hitting 78 bps again on Le Pen
Data
GE: Ifo Business Climate Survey – to confirm the overall
strength of GE economy, no big surprises expected
US: Existing Home Sales – set to surprise on positive
side
FOMC Minutes – markets still not taking the Mar 15
meeting seriously despite Yellen’s testimony from last week
Minutes can shed a bit more light on whether Fed is
eyeing to raise rates in March
Fed Powell speaking today, as he is a possible
successor of Yellen
It is worth to watch him as he may provide additional
clues on March hike amid strong figures from US
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.
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