CREDIT PRE-MARKET: EUR Market Wrap
Feb-13 06:25
* 2y/10y bunds closed +5bp at 2.13%/2.48% after rates reversed some, but not all, of the initial h...
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LOOK AHEAD: UK Timeline of Key Events (GMT Times)
Jan-14 06:23
| Date | UK | Period | Event |
| 15-Jan | 0700 | Dec | Consumer inflation report |
| 15-Jan | 0700 | Dec | Producer Prices |
| 15-Jan | 1630 | BOE's Taylor Speech on Inflation Dynamics and Outlook | |
| 16-Jan | 0700 | Nov | GDP/ Trade/ Services/ Production/ Construction |
| 17-Jan | 0700 | Dec | Retail Sales |
| 21-Jan | 0700 | Nov/Dec | Labour Market Survey |
| 22-Jan | 0001 | Jan | Brightmine pay deals for whole economy |
| 22-Jan | 0700 | Dec | Public Sector Finances |
| 23-Jan | 1100 | Jan | CBI Industrial Trends |
| 24-Jan | 0001 | Jan | Gfk Monthly Consumer Confidence |
| 24-Jan | 0930 | Jan | S&P Global Flash PMI |
| 24-Jan | 1100 | Jan | CBI Distributive Trades |
| 28-Jan | 0001 | Jan | BRC Monthly Shop Price Index |
| 30-Jan | 0930 | Dec | BOE M4/ Lending to Individuals |
| 03-Feb | 0930 | Jan | S&P Global/ CIPS UK Final Manufacturing PMI |
| 05-Feb | 0930 | Jan | S&P Global/ CIPS UK Final Services PMI |
LOOK AHEAD: Eurozone Timeline of Key Events (GMT Times)
Jan-14 06:18
| Date | Time | Country | Event |
| 14-Jan | 735 | EU | ECB's Lane speech on Europe, Asia and the Changing Globe |
| 14-Jan | 900 | IT | Industrial Production |
| 15-Jan | 315 | EU | ECB's Lane in fireside chat at GS global macro conference |
| 15-Jan | 745 | FR | HICP (f) |
| 15-Jan | 800 | ES | HICP (f) |
| 15-Jan | 800 | EU | ECB's De Guindos at 15th Spain Investors Day |
| 15-Jan | 1000 | EU | Industrial Production |
| 16-Jan | 700 | DE | HICP (f) |
| 16-Jan | 900 | IT | HICP (f) |
| 16-Jan | 1000 | EU | Trade Balance |
| 16-Jan | 1230 | EU | Account of Dec 2024 ECB Monetary Policy Meeting |
| 17-Jan | 900 | EU | EZ Current Account |
| 17-Jan | 1000 | EU | HICP (f) |
| 17-Jan | 1100 | EU | ECB's Cipollone lecture at Crypto Asset Lab conference |
| 20-Jan | 700 | DE | PPI |
| 20-Jan | 1000 | EU | Construction Production |
| 20-Jan | EU | ECB's Lagarde and Cipollone in Eurogroup meeting |
GBPUSD: Southbound
Jan-14 06:08
- RES 4: 1.2613 50-day EMA
- RES 3: 1.2607 High Dec 30
- RES 2: 1.2456/2576 20-day EMA / High Jan 7
- RES 1: 1.2367 High Jan 9
- PRICE: 1.2205@ 06:08 GMT Jan 14
- SUP 1: 1.2100 Low Jan 10
- SUP 2: 1.2087 0.764 proj of the Sep 26 - Nov 22 - Dec 6 price swing
- SUP 3: 1.2037 Low Oct 4 ‘23 and a key support
- SUP 4: 1.2000 Psychological round number
The trend condition in GBPUSD remains bearish and the pair traded to a fresh trend low on Monday. Last week’s move down confirmed a resumption of the downtrend and marks an extension of the price sequence of lower lows and lower highs. Note too that moving average studies are in a bear-mode position highlighting a dominant bear trend. Sights are on 1.2087 next, a Fibonacci projection. Initial firm resistance is at 1.2367, the Jan 9 high.
