Short recap
Asian shares lower, hit by slide in material shares on falling copper, iron ore and other commodities
EZ risks still present, Japanese investors own 13% of French bonds
If the Le Pen headlines continue we may see more EURJPY downside
Trichet on global debt and DM crisis coming in 10-15 years
video(talking about debt from 13
th minute)
Pace of growth of DM debt slowed down but EM accelerating, especially China
Trump – Obamacare & tax reform this year (tax laws in Aug), infrastructure plan in 2018
Actually, he is getting a strong competition as he is not the only Champion in the room but China has become the Grand Champion…
Doesn’t really matter that in FX manipulation in this case
New top trading partner for Germany is China as US slipped to third day after France
US oil production rising, replacing OPEC cut deliveries in Asia
Bunds supported by reinvestments, US Trys up on lower expectations of March hike
Peugeot-Opel – Peugeot to implement its own small car platform across Opel models
Royal Bank of Canada expected to report better results supported by division of capital markets
Its US activities will be in focus due to lighter regulation
Advent International improving the offer for Stada(EUR 3.6 bln)
UniCredit EUR 13 bln shares issue almost fully subscribed
NY Fed primary dealers expecting Fed to move in May or eventually later
March hike at 36%
May or later at 78%
We saw a bit of hesitation in US stocks yesterday what may result in a correction before Mar 15 FOMC
If we it does it can be a good signal that market is ready for rate hike
EURUSD – just touching support at 1.0500 or is there anything else?
Critical 1.0515 (year open) and than 1.0460
If we manage to close below then we are ready for more downsize even lower towards parity
Range 1.0500/20 is the battleground
Gold – 1250 (61.8%) and 1260 (200 DMA)
Data
US: Consumer Sentiment – to decline a bit
US: New Home Sales – expecting a new impulse
Good luck Champs!
Mr Hawk
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