MACRO EVENTS & NEWS OF 22nd February 2019.
FX News Today
* Both Topix and Nikkei, declined during the Asian session, with -0.25% and -0.18% respectively.
* Overall, stock markets in Asia struggled through most of the session as subdued inflation data rekindled concerns about a lack of demand and flagging growth and after Wall Street closed in the red.
* News that US President Trump will meet with China’s top trade negotiator today in Washington seems to have helped Chinese markets to stage a late rally and CSI 300 and Shanghai Comp are up 1.76% and 1.51% respectively and the Hang Seng also managed to claw back losses and is up 0.11%.
* US stock futures are posting marginal gains and the April WTI future is trading at just over USD 57 per barrel.
* USDCAD rallied over 1.32 to 1.3225, as Oil inventories rose, with the US at record production levels. Oil price is now back around the $57 mark.
* Japanese CPI data same as forecasts, pushing the Yen higher.
Charts of the Day
Main Macro Events Today
* EU CPI Inflation – Core inflation is expected to be confirmed at 1.1% y/y while the overall inflation rate is expected to have stood at 1.4% in January.
* Canadian Retail Sales – Retail Sales are expected to have declined by 0.3% m/m in December, an improvement from the 0.6% declined observed in November.
* Mario Draghi Speech – The ECB President is due to speak to the University of Bologna where he will accept an honourary degree.
Support and Resistance Levels
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Please note that times displayed based on local time zone and are from time of writing this report.
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Dr Nektarios Michail
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