- Chinese markets again lag [geopolitics in focus?].
- Japanese equities outperform [Yen declines].
- Banks decline in Japan after report on BOJ Gov position.
- US equity FUTS remain lower.
- Monday M&A theme in focus.
- Japanese cos. due to report earnings include Astellas, Sumitomo Corp, Orix, JFE, Yamato.
- RBA rate decision is due on Tues [Feb 7th]; Aussie bond yields rise, REITs decline.
- How ‘dovish’ is Amamiya?
- ASX 200 opens flat at 7,556.
- (AU) Australia Q4 Retail Sales (ex-inflation) Q/Q: -0.2% v -0.5%e.
-*(AU) Australia Jan melbourne institute inflation M/M: 0.9% V 0.2% prior; Y/Y: 6.4% V 5.9% prior [multi-year high].
- Newcrest Mining [NCM.AU]: Confirms received a conditional and non-binding indicative all-stock proposal from Newmont Corporation (Newmont) to acquire 100% of the issued shares of Newcrest.
- (AU) Australia Trade Min: To travel to Beijing (China) to meet counterpart in the near future; discussion covered a range of trade and investment issues [follows virtual meeting with China official].
- Hang Seng opens -1.4% at 21,349.
- Shanghai Composite opens -0.6% at 3,244.
- (CN) Follow Up: China Vice Foreign Minister: China civilian unmanned airship entered the US airspace by 'accident'.
- (CN) US Defense Dept: Chinese spy balloon was shot down six nautical miles off of the US coast by an F-22.
- (US) Sec of State Blinken confirms postponing trip to China; Spy balloon is a violation of US sovereignty [from Feb 3rd].
- (US) US said to be considering new sanctions on Chinese surveillance companies, including Tiandy Technologies Co. and Zhejiang Uniview Technologies Co. over sales to Iran's security forces - US financial press.
- (CN) China Cabinet: China's economic operations are recovering; Will consolidate and expand economic recovery momentum.
- (CN) Reportedly China considering ending limit on municipal land sales to raise tax revenue - press.
- (CN) China PBOC Open Market Operation (OMO): Sells CNY150B in 7-day reverse repos v CNY23B prior; Net drain CNY373B.
- (CN) China PBOC sets Yuan reference rate: 6.7737 v 6.7382 prior.
- *(JP) Japan deputy chief cabinet sec: Refutes Nikkei report.
- (JP) Japan Fin Min Suzuki: Have not heard anything about nomination of Amamiya as BOJ Gov, have been 'out of the loop' on BOJ nomination [comments on press report].
- Nikkei reported Japan government has sounded out Amamiya for the BOJ Gov role [from Feb 5th].
- (JP) Bank of Japan (BOJ) Gov Kuroda: Reiterates BOJ will seek to achieve 2% inflation in stable and sustainable manner, while keeping an eye on side-effects.
- Kospi opens -0.8%.
- (KR) South Korea Finance Ministry sells 30-year bonds:Avg Yield: 3.285% v 3.675% prior.
-*(US) Jan change in Nonfarm Payrolls: +517K V +188KE (above any analysts' estimate and highest job creation since July 2022).
-*(US) Jan average hourly earnings M/M: 0.3% V 0.3%E; Y/Y: 4.4% V 4.3%E.
-*(US) Jan unemployment rate: 3.4% V 3.6%E (lowest since Feb 2020).
- *(US) Jan ISM services index: 55.2 V 50.5E (largest monthly increase since June 2020 and above all analysts' estimates).
- (US) Fed's Daly (non-voter): Today's jobs number was a "wow" number but trend not surprising; Still see Dec SEP projections as a good guide post of where rates need to go - Fox Business [from Feb 3rd].
- Life Storage [LSI]: Public Storage Proposes to Acquire Life Storage in All-Stock Transaction.
- Apple [AAPL]: Reportedly internally discussed adding a higher-end 'Ultra' iPhone to its smartphone lineup, potentially in 2024 - press.
-Telecom Italia: Reportedly thousands of customers across Italy complained of internet outages; Telecom Italian cites international interconnection problem – press.
- (TR) Magnitude 7.7 earthquake strikes central Turkey; cites GFZ.
Levels as of 00:20 ET
- Nikkei 225, +0.6%, ASX 200 -0.3% , Hang Seng -2.5%; Shanghai Composite -1% ; Kospi -1.2%.
- Equity S&P500 Futures: -0.5%; Nasdaq100 -0.6%, Dax -0.1%; FTSE100 -0.3%.
- EUR 1.0798-1.0781; JPY 132.48-131.18 ; AUD 0.6947-0.6894 ;NZD 0.6334-0.6306.
- Gold +0.8% at $1,889/oz; Crude Oil +0.2% at $73.52/brl; Copper +0.7% at $4.0600/lb.
All information provided by Trade The News (a product of Trade The News, Inc. "referred to as TTN hereafter") is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Although information is taken from sources deemed reliable, no guarantees or assurances can be made to the accuracy of any information provided. 1. Information can be inaccurate and/or incomplete 2. Information can be mistakenly re-released or be delayed, 3. Information may be incorrect, misread, misinterpreted or misunderstood 4. Human error is a business risk you are willing to assume 5. Technology can crash or be interrupted without notice 6. Trading decisions are the responsibility of traders, not those providing additional information. Trade The News is not liable (financial and/or non-financial) for any losses that may arise from any information provided by TTN. Trading securities involves a high degree of risk, and financial losses can and do occur on a regular basis and are part of the risk of trading and investing.
Follow us on Telegram
Stay updated of all the news
EUR/USD stabilizes above 1.0750, looks to post modest weekly gains
Following the sharp decline witnessed in the European session, EUR/USD has managed to recover modestly and seems to have stabilized above 1.0750 amid an improvement seen in market mood. The pair remains on track to end the week modestly higher.
GBP/USD holds above 1.2200 heading into the weekend
GBP/USD retraced a small part of its daily decline in the American session after having tested 1.2200 earlier in the day. The US Dollar has lost some strength with Wall Street's main indexes rebounding from opening lows, allowing the pair to limit its losses.
Gold retreats after facing resistance at $2,000
Gold price climbed above $2,000 in the early American session but reversed its direction. With the benchmark 10-year US Treasury bond yield recovering from daily lows after Wall Street's opening bell, XAU/USD struggles to keep its footing and trades at around $1,990.
Breaking: Binance suspends spot trading, citing issues
Binance, one of the world's largest cryptocurrency exchanges by trading volume, announced that it halted spot trading. The announcement from the exchange caused BTC and ETH to drop by nearly 3% and 4%.
Deutsche Bank Stock Forecast: DB shares drop 6% at open following bond sell-off
Deutsche Bank (DB) is the newest bank that has the market worried. Shares opened down more than 6% on Friday and at the time of writing are trading off -6.8% at $8.99.