Macro Events & News

Andria Pichidi HFM

FX News Today

Stock markets remain supported by improving risk appetite, with investors hoping for progress in US-Sino trade talks.
Japanese markets outperformed in catch up trade on returning from yesterday’s holiday and underpinned by a weaker yen.
US lawmakers have reached an “agreement in principle” on funding for border security that would stop a second government shutdown on Friday.
Brexit concerns continue to linger.
Comments from ECB’s Lane, has underpinned speculation that Draghi will rule out another rate hike this year amid the expected downward revisions to growth forecasts.
The front end WTI future is trading at USD 52.55 per barrel.3
EURUSD went sub-1.1300 for first time in 6 weeks on generally firmer dollar.
USDJPY rallied to 6-wk high of 110.64, underpinned by rally in global stocks.

Charts of the Day

Main Macro Events Today

German President Weidmann speech – German President Weidmann is due to deliver a speech titled “The role of the central bank in a modern economy – a European perspective” at the University of South Africa, in Pretoria.
BoE Carney speech – Due to speak about the economic outlook and global trade tensions, in London.
Fed Chair Powell speech – Due to deliver a speech titled “Economic Development in High Poverty Rural Communities” at the Hope Enterprise Corporation Rural Policy Forum, in Mississippi.
Fed Mester and George speech – Cleveland Fed hawk Mester will update the economic outlook and policy, while KC Fed hawk George will discuss “Charting America’s Economic Course.” Though both have been two of the most hawkish on the FOMC, each has recently indicated a pause is in order currently.

Author

Andria Pichidi

HFM

Having completed her five-year-long studies in the UK, Andria Pichidi has been awarded a BSc in Mathematics and Physics from the University of Bath and a MSc degree in Mathematics, while she holds a postgraduate diploma (PGdip) in

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.