GBPUSD TECHS: Bulls Remain In The Driver’s Seat
Mar-13 06:23
* RES 4: 1.3175 High Oct 4 2024 * RES 3: 1.3119 76.4% retracement of the Sep 26 '24 - Jan 13 bear le...
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LOOK AHEAD: UK Timeline of Key Events (GMT Times)
Feb-11 06:23
| Date | UK | Period | Event |
| 11-Feb | 0845 | BOE's Mann lecture on Economic Prospects | |
| 11-Feb | 1215 | BOE Bailey's speech on changes in financial markets | |
| 12-Feb | 1500 | BOE's Greene speech at Institute of Directors | |
| 13-Feb | 0700 | Dec | GDP/ Trade/ Construction/ Production/ Services |
| 13-Feb | 0700 | Q4 | GDP First Estimate |
| 18-Feb | 0700 | Dec/Jan | Labour Market Survey |
| 18-Feb | 0930 | BOE's Bailey fireside chat on open financial markets | |
| 19-Feb | 0001 | Jan | Brightmine pay deals for whole economy |
| 19-Feb | 0700 | Jan | Consumer inflation report |
| 19-Feb | 0700 | Jan | Producer Prices |
| 20-Feb | 1100 | Feb | CBI Industrial Trends |
| 21-Feb | 0001 | Feb | Gfk Monthly Consumer Confidence |
| 21-Feb | 0700 | Jan | Public Sector Finances |
| 21-Feb | 0700 | Jan | Retail Sales |
| 21-Feb | 0930 | Feb | S&P Global Flash PMI |
| 25-Feb | 1100 | Feb | CBI Distributive Trades |
LOOK AHEAD: Eurozone Timeline of Key Events (GMT Times)
Feb-11 06:18
| Date | Time | Country | Event |
| 11-Feb | 1700 | EU | ECB's Schnabel in Nuremberg Talk Series panel |
| 12-Feb | 900 | IT | Industrial Production |
| 12-Feb | 1000 | EU | ECB's Elderson in roundtable at the MNI Connect event |
| 13-Feb | 700 | DE | HICP (f) |
| 13-Feb | 840 | EU | ECB's Cipollone interview at Digital Finance conference |
| 13-Feb | 1000 | EU | Industrial Production |
| 14-Feb | 800 | ES | HICP (f) |
| 14-Feb | 1000 | EU | GDP (p) |
| 17-Feb | 1000 | EU | Trade Balance |
| 17-Feb | EU | ECB's Lagarde and Cipolllone in Eurogroup meeting | |
| 18-Feb | 745 | FR | HICP (f) |
| 18-Feb | 1000 | DE | ZEW Current Conditions/Expectations Index |
| 18-Feb | EU | ECB's De Guindos in ECOFIN meeting | |
| 18-Feb | 1400 | EU | ECB's Cipollone in MNI Connect conference on Balance Sheet |
| 19-Feb | 900 | EU | EZ Current Account |
| 19-Feb | 1000 | EU | Labour costs |
FOREX: Steady Trends, Outside Of A Sharp USD/INR Pull Back
Feb-11 06:08
In North East Asia, FX markets have shown little aggregate movements. G10 FX markets have been very muted, with Japan markets out and head of Fed Chair Powell testimony later. Regional equity sentiment has been mixed, with HK and China markets giving back some recent gains.
- The USD/CNY fixing edged higher, but USD/CNY onshore spot has remained capped under 7.3100 so far today. USD/CNH has drifted a little lower, last near 7.3100 level, but maintains a positive bias with onshore spot.
- USD/KRW spot has edged a little higher, last above 1453, but remains within recent ranges. We had the first 10-days of trade data for Feb earlier. Trends can obviously shift in the month, but the early weakness in daily average exports points to continued softness in full month export trends. Spot USD/TWD is little changed, continuing to track in the 32.80/85 region.
- Spot USD/INR slumped in the first part of trade, falling over 1%, as markets moved away from the 88.00 level, which was threatened yesterday. We were last 86.85/90, up from earlier lows (86.64). RBI intervention may have also been more prominent in recent sessions.
- USD/THB has climbed back above 34.00, the pair last in the 34.05/10 region. This is around 0.50% weaker in THB terms. Earlier Feb highs were at 34.15.
- Spot USD/IDR has gravitated higher, last near 16370/75. Indonesia’s consumer confidence was slightly lower in January at 127.2 after 127.7 but it printed above the Q4 average of 124.9 and remains at a solid level and in line with continued robust private consumption growth of around 5%, where it was in Q4.
