Market Talk

Google Ad

Where have we been and where are we going? Join our weekly market thread on Traders Community...

FEAR NOT Brave Investors
 

Delusion of Grandeur
 

Strange times But remember The Joker once served as the Iranian ambassador for the United Nations.

Coronavirus, Delusion, Denial

The Week That Was: 

Checking the inbox and  social media what is clear is the market is in denial of risk and the delusion that it is bulletproof. One could argue the herd is suffereing from a delusion of grandeur like never before. Yes the Central Banks have clearly manipluatedthe playing things, maybe they have total control maybe they donlt, just be aware of your risk and remeber nothing is as it seems.

We are in an age of dismissal, dismissal of risk, respect and thinking beyond today, These are all hallmarks of greed, some would say gluttany. In a world that worships money that is what takes over, Again this week we saw record highs in US equities despite the unravelling pandemic in China of Coronavirus . The virus has seen over 350 million Chinese locked in and spread to over 80,000 people across the globe with the admission that over 2500 are dead with expectations pf many more,.

Gold has soared to new highs,  US treasuries have been bid furiously as has the US dollars. Yet over in stock land there seems seems minimal anxiety with constant chatter of this can only go up. The European and Japanese economy are weak, Australia is weak and yes teh US economy is hardly lighting things uop before the massive pump. There is more then the Coronavrus, there is Brexit withthe UK leaving the EU. with concerns about a failed or no deal being talked about again. More risk denial?  In oil land we have the KSA and Russia OPEC + alliance looking shaky,  Oil needs positive news and /or a significant amount of supply removed. Natual gas tried to rally but gave half of it back after the EIA report.

Bitcoin has been scaling higher which sees the top of the recent $6,400 to $10,000 range threatened with safe-haven flows, improved progress in mainstream usage, and the heavily anticipated halving event in May.

The virus incubates for around 2 weeks so how many  carriers is an exponential number. Patient zero was from Wuhan, a city of over 11 million. With this knowledge shrewd investors are looking past past earnings rebound and focusing on the spillover impact from the coronavirus on U.S. corporations.

Expectations for earnings growth in the first quarter has been cut in half to just 3.2% from more than 6% at the start of 2020, according to Refinitiv. Companies Apple, Chevron, Exxon, Coca-Cola, Deere and Procter & Gamble have all warned the virus could hit profits. There have been more U.S. companies issuing below-consensus guidance for the next quarter than those with upbeat forecasts, marking the weakest ratio in a February since 2014 Savita Subramanian, head of U.S. equity and quantitative strategy at Bank of America. "Nearly half of the S&P 500 companies have cited coronavirus during their earnings call this season, according to FactSet. These companies’ average revenue exposure to China is 7.2%, compared to 4.8% exposure for the average S&P 500 company.

Whether the Phase One China trade relationship is merely hot air or not it is now on the back burner, particularly with Coronavirus. Next up is U.S. trade relations with Europe. Back in the Middle East expect more noise out of Libya, Iraq and Iran, this war is not over, just back to the proxies and propaganda phase. Rationality left the building a long time ago.

Wall Street has embraced the mantra 'Greed is Good" more than any before.

Politically this week we have the Senate vote on impeachment , the day after SOTU.  Stay alert to the political and geopolitical shifts with the world in flux. Government policies related to the environment, trade and tech sit high on the watch list.  Political and economic agendas that Influence policy-making is top of the list. For the US it is not just external threats, including increased political tensions between countries but also internal threats highlighted by the partisan impeachment devide. 

Politics influence all, directly or indirectly.  The trade war and trade relationships have the potential to impact growth strategies with unexpected consequences with this markets also be vulnerable. There is little doubt political uncertainty has become more widespread. With regard to the trade deal It is all dependant on so many factors, clearly the dealing isn't complete. In a  fully fledged stock mania, nothing matters until it does. That is the feral nature of greed. Is Coronavirus that dreaded black swan?

Behind it all is world wide low interest rates and QE pump priming by the world's major central banks,  the Federal Reserve, Swiss National Bank and ECB all preached more of the same.

Despite the volatility and pandemic, the put call ratio, Vix and talking heads underscore there is no fear out there. What happens if music for pass the parcel stops playing? What if on China and the U.S. the market calls their bluff?. There is a reason why so many experienced fund managers are closing up shop.

Meanwhile tje Fed is committed to about 50 Billion a day in repo, funds  into the system to maintain liquidity, in its not QE4 repo program.The consumer has been keeping the economy robust.

Poltically we have the growing antagonistic and partisan split of the impeachment of the POTUS, in the UK and Europe we have the daily Brexit news cycle. Happy New Year!

Prime Minister Boris Johnson  fulfilled his pledge to "get Brexit done" by Jan. 31..

Given the history, markets seem overly optimistic about trade, some would say negligently. The market wants to believe the trade war is constructive, we have warned for over a year about the nonsense of the trade war nearing an end BUT economics not being the market. The market has become nothing more than a casino. Very simply you have two different cultures two different political systems and shaming doesn't do well in either. Read the recent reports with open eyes.

This is a market full of players that think its different this time, sure its different negative rates all around, trillions of worthless debt, unstable politics and Central Bankers putting their thumb in their mouths and seeing which way the wind blows. The fear of missing out and blind partisan politcs creates intertesting bed fellows. Be alert and put your ear plugs in and watch the whole spectrum its all related, geopolitical, debt markets, commodities, stocks, herds, greed and entitlement,

The spectre of Deutschbank overhangs Europe as does the new British PM, Boris Johnson. Their are other spectres out their we just don't know it, or want to.

"Negative yields on long-dated government securities are more reflective of distorted market conditions than of stronger sovereign credit profiles, Fitch Ratings says. Lower interest service costs support sovereign creditworthiness, but this must be weighed against the impact of the economic conditions leading to lower yields and historically high government debt levels in a number of countries.- Fitch"

We remind you to stay on your toes, ad nauseum we repeat; In this surreal world that market prices can only go up, with bizzare acceptance that we can't go down and you are a fool if you think otherwise. In saying that the old saying, the trend is your friend rings true.

Akio Morita mistakes

The Week Ahead

This week we could see more volatility with the engulfing uncertainty of the Coronavirus and unrest in Libya and Iraq.  

Stocks are still not far off all time highs and geopolitical risk on high alert with President Trump under pressure at home and abroad. There are a few American economic reports. The biggest risk alert is valuation, the stock market’s record highs and price earnings ratio of more than 18.5. Following the Iowa Caucus and New Hampshire primaries there are nerves about a Socialist President in the U.S..

Expectations are mixed in the UK on whether Boris Johnson will be able to secure a trade deal before the end of the year.

We start off with

The U.S. politically remains combustible, led by Democrat impeachment, Turkey, Iran and Saudi moves, trade wars and repo rates.

Watch for the MBA mortgage report also it has had huge swings each week and is key to the economy and homebuilders. In the U.S. investors will be watching data that can help us gauge trade war fallout.

U.S. goods are more expensive due to a stronger dollar boosted by geopolitical woes and negative interest rates in Europe. The dollar index hit a 29-month high on Sept. 3. Investors are also transfixed by oil prices in reaction to the Saudi attack and recovery and military respsonses.

  • Monday 
    Garmany IFO Business Climate IFO Current Assessment and IFO Expectations, US Dallas Fed manufacturing
  • Tuesday
    Germany Gross Domestic Product US Philadelphia Fed non-manufacturing, S&P/Case-Shiller HPI , Consumer confidence, Richmond Fed survey, API Oil Inventories New home sale Dallas Fed services API Crude Inventories
  • Wednesday:
    US Mortgage Applications EIA Crude Oil Invemtories
  • Thursday  EU Business Climate Indicator Consumer Confidence (EU) Industrial Confidence (EU) M3 Money Supply (EU)Services Sentiment (EU)US Weekly Jobless Claims, Durable goods Real GDP (Q4 second reading)Pending home sales EIA Natural Gas Storage,
  • Friday Germany Import Price Index Unemployment Rate, US Personal income Advanced economic indicators Chicago PMI Consumer sentiment, Baker Hughes Oil Rig Count, CFTC Speculative net positions

For emerging markets the high US dollar means the Fragile 5 continue to shake. Argentina and Turkey are red letter risks. Voters will also be going to the polls in Poland, Indonesia, the Philippines and Thailand this year.

Over $4 trillion of EM debt matures by the end of 2020, of which around a third is denominated in foreign currency, according to the Institute of International Finance. Nevertheless Banks are telling investors to buy, buy, buy, who is selling you should ask? 

If you wanted to play in the big room at Vegas, you are living it. Understand risk and the madness of crowds for your own sanity and wealth.

Focus on yourself and what YOU CAN INFLUENCE, set your trading plan and goals in be set for 2019. One suspects it will be a year long Groundhog day for Trump, the GOP and the Democrats. We still have trade wars.

Earnings  will see critical updates on production in coronavirus impacted regi and if there is extended halting of operations weighing on multi-nationals. Last week we heard from Deere among other firms.

We start off on Monday with:Earnings: Shake Shack earnings

Tuesday Earnings Include: Earnings: Home Depot, Macy’s, Salesforce, Virgin Galactic, SmileDirectClub, RealReal

Wednesday Earnings Include: Lowe’s, L Brands, Square, Booking Holdings, Marriott, Etsy

Thursday Earnings Include: Best Buy, JC Penny, Beyond Meat

Friday Earnings Include Wayfair

-coment section below data-

Geopolitical Tinderbox Radar

Trade Imbalances IMF

Italy CDS
Turkey Geopolitical

Last Week's Big Stories

The Week That Was - Last Weeks Recap

  • Into The Vortex - EIA Reports -201 Bcf Draw in Natural Gas Storage
  • US Q4 GDP 2.1% vs +2.0% Expected on Exports and Home Investment Boost
  • Federal Reserve Keep Rates Steady as Expected, Repos Through April
  • Crude and Gasoline Inventories Continue To Build With Record Production
  • Coronavirus Highest Risk International Cities Bangkok, Hong Kong and Taipei
  • New Zealand Calls September 19, 2020 General Election
  • Assets Currently at Very Elevated Levels says ECB Mersch

Earnings

  • Chevron Earnings Hit By Lower Crude Oil and Natural Gas Prices
  • ExxonMobil Earnings Hurt by Lower Oil Prices and Chemical Division
  • Electronic Arts Earnings Beat But Lowers Gaming Revenue Guidance
  • Amazon Surged Above $1 Trillion in Market Capitalization After Monster Earnings
  • General Electric Shares Continue To Rise After Stronger Earnings Than Expected
  • AMD Micro Wobbles On Earnings After Misses Revenue Forecast
  • Apple Earnings and Margins Beat as iPhone, Airpods and Watch Revenue Soars
  • Intel Stock Soars Past Dot Com Bubble Highs After Earnings

 

Stock Markets

Biggest Stock Winners and Losers Last Week*

Top 5 SPX 2 21 2020

 Which Stocks Moved US ETF's Last Week

Top 5 SPX ETF 2 21 2020
 

US Stock Indices Performance

US Indices W 2 21 2020 

S&P 500

The #SPX wave 5 extension saw meaningful impulse down which closed under the tenkan after the post Iran hit thrust to new highs in a manic wave 5 or 3 of some degree. All hallmarks of a mania, +5/8 Daily MM over the chikou in 5 violent waves. The question is this a wave 5 and of what degree?  Best alternatives  (v) of wave V or wave iii higher, Speed and channel lines in tune with algo calibration curve. Note Chikou rebalance in order.


SPX D 2 21 2020 

This week we saw the first impulse down since impulse up off the weekly tenkan the weekly SPX closed over the top channel tor new all time highs well ahead of the Chikou, Below we have Kijun and tenkan. Below channel, watch if a spit or clear break support is 50 wma as chikou rebalances

SPX W 2 21 2020
 

Semiconductors ETF - SMH

SMH W 2 21 2020
 

Apple $AAPL

(Another ATH Leading underlying strength of US Indices)

AAPL W 2 21 2020
 

Amazon $AMZN

AMZN W 2 21 2020
 

CBOE VIX INDEX

Data via Ole S Hansen @Ole_S_Hansen

VIX caution: Not only did the net-short hit a record but so did the percentage of total open interest which reached 50%. History tells us that positions this elevated could leave the short side very vulnerable to a sudden change in direction $SPX $SVXY $XIV

Image

Speculators increased their VIX futures net-short by 17k lots to a RECORD 188k lots in the wk to Oct. 29. During the past month the #SPX rally has helped widen the contango thereby fueling short-selling strategies though futures and inverse ETFs $SVXY and $XIV.

 Image

Fixed Interest

10 Year Treasury Note

TNX W 2 21 2020
 

Energy and Commodities

US Crude Oil (WTI)

WTI has retraced in 5 eaves from the Iran blowoff and failed to get back over the tenkan to be rejected as it tests the previous 49-50.50 low.  Math and crowd behavior tell the story right to the +2/8 and collapsed back to the break up aand now through the channel, accelrating when Tenkan and 50 dma crosseed. .From here question is was the higher C complete? Resistance tenkan, Kijun and 50 dma zone over the cloud. Rebalancing Chikou and MM 8/8 gave us overbought caution but we had the manic thrust.   The impulse meant a C or (Y) complete. Support is MM, Previous Lows and extensions.

WTI D 2 21 2020

WTI accelerated lwoer after broek the weekly uptrend, a fractal of the sharp  Key resistance is Kijun and 50wma confluence (green) which all failed aftet the violent spike up. Support channel and fib conflageration with MM 1.8WTI W 2 21 2020

 US Natural Gas (Henry Hub)

Natural Gas has spat the previous low and -2/8 with an island reversal to test the Kijun and doentrend line or bull flag. The big question is was that a completed move down there or a 3?  Resistance from cloud down from impulse.  Wave iii or Alt C high. Support on downtrend Tenkan.

 

NG D 2 21 2020

 

Natural Gas has spat the previous low and -2/8 with an island reversal to test the Kijun and doentrend line or bull flag. The big question is was that a completed move down there or a 3?  Resistance from cloud down from impulse.  Wave iii or Alt C high. Support on downtrend Tenkan.
NG D 2 19 2020
 

Natty has spat lower trend line to test the weekly tenkan.  We got the Kijun att he cloud above, remember kiss of death.brought it down  Repeat; take a peek at the daily flag possibilities if breaks tenkan.

.


NG W 2 21 2020
 

Baltic Dry Index (BDI)

BDI W 2 21 2020

 

Precious Metals

Gold

Gold is back testing the previous wave 3 after it finally cracked the Tenkan after correcting in 3 waves from 1556 to Murrey Math +3/8. Support is Kijun while market decides.  From there a C or 3?  Watch Fibs and chikou. Watching for corrective 2 waves to tell us what this move is.

Gold W 2 21 2020
 

Silver

Silver diverged further from gold not breaking the previous iii or C as Gold did.  Since we have continued a reversal harder , a  much more violent impulse than gold after correcting the 3 or C. Key is the 50% after it rallied in 3 waves to retest the September 2017 breakdown  here is also a chance this is an X. We watch recent lows if this a 4 down or C complete


 Silver W 2 21 2020

 

Currency Markets

Australian Dollar - AUDUSD

The Aussie dollar is floundering around the tenkan after reversed hard after breaching the cloud and tested the 50 wma and around Kijun now support. Fell after the move to MM +1/8 first target.

AUD W 2 21 2020

 New Zealand Dollar - NZDUSD

The Kiwi spent the week retesting the breakup after the bounce faltered much like the AUD and came back through the cloud.  We are watching as Tenkan and Kijun trying to cross back through which could bring the 'kiss of death'. The Chikou needs to rebalance.
 NZD W 2 21 2020

Canadian Dollar - USDCAD

The USDCAD back retesting old channel after was rejected hard at the 50wma and cloud, closing the week under old channel, tenkan and Kijun Resistance top of cloud and 50 wma. The tenkan remains the pivot aspect.

CAD W 2 21 2020


Euro - EURUSD

Euro tested top of channel after held tenkan with Kijun closing through it - watch for impulse down if starts to break wedge,  Again governed by $EURGBP and #Bund volatility. Support pennant break. Unless this is a spit the potential of the measured move comes in around 1.0630 and lower. EUR remains a battle between EURJPY and EURCHF.

EUR W 2 21 2020

 EuroPound - EURGBP

EURGBP back testing tenkan after bounce, weekly cloud is well above and resistance is the May breakup reflecting Brexit politics. Resistance at kijun withr Tenkan support and Nov 2017 lows

EURGBP W 2 21 2020
 Japanese Yen - USDJPY

Classic failure at USDJPY after weeks over the weekly Kijun and closed at 50 wma and the cloud twist but couldnt get legs up. It was drawn by 38% and Murrey 6/8.  It broke out of Wedge as Kijun stayed flat. Yen buying on crosses, EURJPY and AUDJPY taking away the cloud twist that drew the dollar up.

JPY W 2 21 2020

 Mexican Peso USDMXN

Found support at last Gann octave as Mexican peso gave up some of recent gains after it held the cloud. Flat Kijun and Tenkan pulling after the USMC trade deal. Watch if a fractal spit on recent highs.

MXN W 2 21 2020
 

Turkish Lire USDTRY

USDTRY impulse higher continued after found support at daily Kijun and Tenkan to get back above cloud  Impulse is needed to pull away from here. Support is the previous break up and tenkan and Kijun. Keep an eye on geopolitical risk factors.


 TRY W 2 21 2020

Bitcoin

Nothing new for Bitcoin, more of the same as it continues to falter after 61.8% spit. Well under the tenkan and kijun. Needs to test downtrend for higher correction. Use your MM rules as algos control the herd here, support is the cloud - we said be wary of sharp ABC, 1-2 moves.


 BTC W 2 21 2020

The Week Ahead

Key US Economic and Central Bank Events This Week

Sunday, February 23, 2020

  • 16:45 NZD Retail Sales (QoQ) (Q4)
  • 16:45 NZD Retail Sales Quarterly Vs. Year Ago (Q4)
  • 21:00 NZD Credit Card Spending (YoY)

Monday, February 24, 2020

  • All Day Holiday Japan - Emperor's Birthday
  • All Day Holiday Russia - Defender of the Fatherland Day
  • All Day Holiday Brazil - Carnival 00:00 SGD CPI (YoY) (Jan)
  • 04:00 EUR German Business Expectations (Feb)
  • 04:00 EUR German Current Assessment (Feb)
  • 04:00 EUR German Ifo Business Climate Index (Feb)
  • 04:30 GBP Gross Mortgage Approvals
  • 08:30 USD Chicago Fed National Activity (Jan)
  • 08:30 CAD Wholesale Sales (MoM) (Dec)
  • 10:30 USD Dallas Fed Mfg Business Index (Feb)
  • 11:30 USD 3-Month Bill Auction
  • 11:30 USD 6-Month Bill Auction
  • 13:30 GBP BoE MPC Member Haldane Speaks
  • 16:00 KRW Consumer Confidence (Feb)
  • 18:50 JPY Corporate Services Price Index (CSPI) (YoY)
  • 19:00 SGD GDP (QoQ) (Q4)

Tuesday, February 25, 2020

  • All Day Holiday Brazil - Carnival
  • 00:00 JPY Leading Index
  • 02:00 EUR German GDP (QoQ)
  • 02:30 CHF Employment Level
  • 02:45 EUR French Business Survey (Feb)
  • 03:00 EUR Spanish PPI (YoY)
  • 03:30 HKD Trade Balance
  • 06:00 GBP CBI Distributive Trades Survey (Feb)
  • 08:30 CAD Corporate Profits (QoQ)
  • 08:55 USD Redbook (MoM)
  • 09:00 USD House Price Index (MoM) (Dec)
  • 09:00 USD S&P/CS HPI Composite - 20 s.a. (MoM) (Dec)
  • 09:45 USD FOMC Member Kaplan Speaks
  • 10:00 USD CB Consumer Confidence (Feb)
  • 10:00 USD Richmond Manufacturing Index (Feb)
  • 10:00 USD Richmond Services Index (Feb)
  • 10:30 USD Dallas Fed Services Revenues (Feb)
  • 10:30 USD Texas Services Sector Outlook (Feb
  • ) 11:30 USD 52-Week Bill Auction
  • 12:15 CAD BoC Gov Council Member Lane Speaks
  • 13:00 USD 2-Year Note Auction
  • 15:00 USD FOMC Member Clarida Speaks
  • 16:00 KRW Manufacturing BSI Index (Mar)
  • 16:30 USD API Weekly Crude Oil Stock
  • 19:01 GBP BRC Shop Price Index (YoY)
  • 19:30 AUD Construction Work Done (QoQ)

Wednesday, February 26, 2020

  • All Day Holiday Brazil - Ash Wednesday
  • 00:00 JPY BoJ Core CPI (YoY)
  • 00:00 SGD Industrial Production (MoM) (Jan)
  • 02:45 EUR French Consumer Confidence (Feb)
  • 03:30 HKD GDP (QoQ) (Q4)
  • 04:00 EUR Italian Trade Balance Non-EU (Jan)
  • 04:00 CHF ZEW Expectations (Feb)
  • 06:00 EUR France Jobseekers Total
  • 07:00 USD MBA 30-Year Mortgage Rate
  • 07:00 USD MBA Mortgage Applications (WoW)
  • 07:00 USD MBA Purchase Index
  • 07:00 USD Mortgage Market Index
  • 07:00 USD Mortgage Refinance Index
  • 08:30 EUR ECB President Lagarde Speaks
  • 09:35 USD FOMC Member Kaplan Speaks
  • 10:00 USD New Home Sales (MoM) (Jan)
  • 10:30 USD Crude Oil Inventories
  • 13:00 USD 5-Year Note Auction
  • 13:00 USD FOMC Member Kashkari Speaks
  • 16:45 NZD Trade Balance (MoM) (Jan)
  • 19:00 NZD ANZ Business Confidence (Jan)
  • 19:00 NZD NBNZ Own Activity (Jan)
  • 19:30 AUD Building Capital Expenditure (MoM) (Q4)
  • 19:30 AUD Plant/Machinery Capital Expenditure (QoQ) (Q4)
  • 19:30 AUD Private New Capital Expenditure (QoQ) (Q4)
  • 20:00 KRW Interest Rate Decision (Feb)
  • 20:30 JPY BoJ Board Member Kataoka Speaks

Thursday, February 27, 2020

  • 00:00 JPY BOJ Deputy Governor Amamiya Speaks
  • 02:00 GBP Nationwide HPI (MoM)
  • 03:00 EUR Spanish CPI (MoM) (Feb)
  • 03:00 EUR Spanish HICP (MoM)
  • 04:00 EUR M3 Money Supply (YoY) (Jan)
  • 04:00 EUR Private Sector Loans (YoY)
  • 05:00 EUR Business and Consumer Survey (Feb)
  • 05:00 EUR Business Climate (Feb)
  • 05:00 EUR Consumer Confidence (Feb)
  • 05:00 EUR Consumer Inflation Expectation (Feb)
  • 05:00 EUR Services Sentiment (Feb)
  • 05:00 EUR Industrial Sentiment (Feb)
  • 05:30 GBP BoE MPC Member Cunliffe Speaks
  • 06:30 EUR Spanish Business Confidence
  • 08:30 USD Core PCE Prices (Q4)
  • 08:30 USD Corporate Profits (QoQ) (Q4)
  • 08:30 USD Durable Goods Orders (MoM) (Jan)
  • 08:30 USD GDP (QoQ) (Q4)
  • 08:30 USD GDP Price Index (QoQ) (Q4)
  • 08:30 USD Continuing Jobless Claims
  • 08:30 USD Initial Jobless Claims
  • 08:30 USD Jobless Claims 4-Week Avg.
  • 08:30 USD PCE Prices (Q4)
  • 08:30 USD Real Consumer Spending (Q4)
  • 08:30 CAD Current Account (Q4)
  • 10:00 USD Pending Home Sales (MoM) (Jan)
  • 10:30 USD Natural Gas Storage
  • 11:00 USD KC Fed Composite Index (Feb)
  • 11:00 USD KC Fed Manufacturing Index (Feb)
  • 11:00 EUR ECB's De Guindos Speaks
  • 11:30 USD 4-Week Bill Auction
  • 11:30 USD 8-Week Bill Auction
  • 11:30 USD Chicago Fed President Evans Speaks
  • 13:00 USD 7-Year Note Auction
  • 15:30 USD FOMC Member Mester Speaks
  • 16:00 KRW Retail Sales (MoM)
  • 18:00 KRW Industrial Production (MoM) (Jan)
  • 18:00 KRW Service Sector Output (MoM) (Jan)
  • 18:30 JPY Tokyo CPI (YoY) (Feb)
  • 18:30 JPY Unemployment Rate (Jan)
  • 18:50 JPY Industrial Production (MoM) (Jan)
  • 18:50 JPY Retail Sales (YoY) (Jan)
  • 19:00 USD FOMC Member Mester Speaks
  • 19:01 GBP GfK Consumer Confidence (Feb)
  • 19:30 AUD Housing Credit (Jan)
  • 19:30 AUD Private Sector Credit (MoM) (Jan)

Friday, February 28, 2020

  • 00:00 JPY Housing Starts (YoY) (Jan)
  • 02:00 GBP Nationwide HPI (MoM) (Feb)
  • 02:00 EUR German Import Price Index (MoM) (Jan)
  • 02:30 CHF Retail Sales (YoY) (Jan)
  • 02:45 EUR French Consumer Spending (MoM) (Jan)
  • 02:45 EUR French CPI (MoM)
  • 02:45 EUR French GDP (QoQ) (Q4)
  • 02:45 EUR French HICP (MoM)
  • 02:45 EUR French PPI (MoM) (Jan)
  • 03:00 CHF KOF Leading Indicators (Feb)
  • 03:55 EUR German Unemployment Rate (Feb)
  • 03:55 EUR German Unemployment (Feb) 0
  • 4:00 EUR Spanish Current account (Dec)
  • 05:00 EUR Italian CPI (MoM) (Feb)
  • 05:00 EUR Italian HICP (MoM) (Feb)
  • 05:00 EUR German Buba President Weidmann Speaks
  • 06:15 GBP BoE MPC Member Haldane Speaks
  • 08:00 EUR German CPI (MoM) (Feb)
  • 08:00 EUR German HICP (MoM) (Feb)
  • 08:30 USD Core PCE Price Index (MoM) (Jan)
  • 08:30 USD Goods Trade Balance (Jan)
  • 08:30 USD PCE price index (MoM) (Jan)
  • 08:30 USD Personal Income (MoM) (Jan)
  • 08:30 USD Personal Spending (MoM) (Jan)
  • 08:30 USD Real Personal Consumption (MoM) (Jan)
  • 08:30 USD Wholesale Inventories (MoM)
  • 08:30 CAD GDP Implicit Price (QoQ) (Q4)
  • 08:30 CAD GDP (MoM) (Dec)
  • 08:30 CAD IPPI (MoM) (Jan)
  • 08:30 CAD RMPI (MoM) (Jan)
  • 09:15 USD FOMC Member Bullard Speaks
  • 09:45 USD Chicago PMI (Feb)
  • 10:00 USD Michigan Consumer Sentiment (Feb)
  • 11:00 CAD Budget Balance (Dec)
  • 11:15 GBP BoE MPC Member Cunliffe Speaks
  • 11:17 JPY Construction Orders (YoY) (Jan)
  • 12:00 USD Dallas Fed PCE (Jan)
  • 13:00 USD U.S. Baker Hughes Oil Rig Count
  • 14:30 USD CFTC speculative net positions
  • 20:00 CNY Chinese Composite PMI (Feb)
  • 20:00 CNY Manufacturing PMI (Feb)
  • 20:00 CNY Non-Manufacturing PMI (Feb)

Saturday, Feb 29, 2020

  • 19:00 KRW Exports (YoY) (Feb)
  • 19:00 KRW Imports (YoY) (Feb)
  • 19:00 KRW Trade Balance (Feb)

Stock Buyback Watch

Via Emad Mnati @EmadMnati and MarketBeat

Stock BuyBAcks 1

Stock BuyBAcks 2

 

----

Note these charts, opinons news and estimates and times are subject to change and for indication only. Trade and invest at your own risk.

Trade Smart!

Log in to comment
Discuss this article in the forums (28 replies).

Google ads