FX News Today
- 10-year Treasury yields are up 0.7 bp at 2.691%, and 10-year JGB yields climbed 0.8 bp to -0.023%.
- Yields continue to move higher and Asian stock markets mostly managed modest gains in quiet trade, with China and South Korea closed for Lunar New Year celebrations.
- Topix and Nikkei managed gains of 1.07% and 0.46% respectively, while the Hang Seng climbed 0.21% and the ASX closed up 0.48%. US futures are marginally higher.
- US President Trump told CBS trade talks with China are “doing very well” and also sounded confident on an agreement with North Korea, which helped to underpin confidence and risk appetite, after strong US data releases on Friday dampened concern about the outlook for world growth and counterbalanced disappointing forecasts from Amazon.
- Earnings reports will remain a key factor this week alongside fundamentals and political developments in Europe also, where Brexit concerns remain high on the agenda.
Charts of the Day
Main Macro Events Today
- ECB Mersch Speech – Yves Mersch, a member of the ECB Executive Board will speak at Lamfalussy Lectures Conference of Lamfalussy Award at Central Bank of Hungary in Budapest
- UK Construction PMI – The UK PMI is expected to have stood at 52.6 in January, compared to 52.8 in December.
- US Factory Orders – Factory Orders are expected to have grown by 0.2% in November, compared to -2.1% in October.
Support and Resistance
Click here to access the Economic Calendar
Dr Nektarios Michail
Market Analyst
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
