Market Weekly: March 1 – 7 2020

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FEAR NOT Brave Investors
 

The Crowd Le Bon
 

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

The Madness of Crowds

The Week That Was:

We have been asking for weeks’ how can the market  be in denial of risk and the delusion that it is bulletproof. Then boom, we saw one of the nastiest weeks ever for markets. It was the S&P 500′s fastest correction on record.  Major U.S. stock averages suffered their worst week since the financial crisis as fears about the coronavirus disrupting the global economy scared investors away from risk assets.

 Last week we said “One could argue the herd is suffering from a delusion of grandeur like never before. Yes, the Central Banks have clearly manipluated the playing field, maybe they have total control, maybe they don’t, just be aware of your risk and remember nothing is as it seems.”  Then boom the rubber met the road and panic hit the streets with consecutive 1000 point drops in the Dow off record highs. The same extreme bulls are now extreme bears, what did we tell you about the madness of crowds?

Simply it is worth repeating from last week ” 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 with the 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.

There we have it and hopefully all the members and friends of Traders Community were well prepared, brace yourself for more voaltility and more fear and intentional fear from market players, politicians and so many self interested parties.

Remember. nothing is as it seems.

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 virus and psychological affect on domestic and trade relationships have the potential to impact growth strategies with unexpected consequences with this markets are also 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.

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. How will the act to alleviate the panic of the market drop, this is essential given the security of the repos they have out.

Poltically we havethe 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!

This is a market full of players that thought 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. But when people are all one way and leveraged it didn;t take much…

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 expect more volatility with the engulfing uncertainty of the Coronavirus and unrest in Libya and Iraq.  

Geopolitical risk is on high alert with President Trump under pressure at home and abroad. There are a few American economic reports with this week’s monthly jobs report the hughlight. The biggest risk alert was valuation, the stock market’s record highs and price earnings ratio of more than 18.5. That has obviously been adjusted after this week’s crash. Following the 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 ISM surveys and the Fed’s Beige Book for early signs of COVID-19 impact, we are already seeing evidence in early economic indicators.  The Institute for Supply Management will release its manufacturing gauge on Monday. The Fed will publish its latest Beige Book Wednesday, Friday we get February’s jobs report.

The Coronavirus has created fear in the world which has spread to financial markets, how doe the markets react from here? U.S. politically remains combustible, led by the 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 
    US Construction spending and ISM manufacturing
  • Tuesday
    Fed president Charles Evans speaks, Super Tuesday primaries, API Oil Inventories
  • Wednesday:
    US Mortgage Applications, ADP employment. ISM non-manufacturing, Treasury secretary Steven Mnuchin testifies to House Appropriations Committee on budget. Fed Beige book, EIA Crude Oil Invemtories
  • Thursday US Weekly Jobless Claims, Nonfarm productivity, Productivity & costs, Factory orders, Durable goods orders and EIA Natural Gas Storage,
  • Friday US Trade balance, February jobs report, Wholesales inventories, 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 Shake Shack, Home Depot, Macy’s, Salesforce, Virgin Galactic, SmileDirectClub, RealReal, Lowe’s, L Brands, Square, Booking Holdings, Marriott, Etsy, Best Buy, JC Penny, Beyond Meat and Wayfair among other firms.

We start off on Monday with:earnings from 

Tuesday Earnings Include: Target, Kohl’s, Nordstrom

Wednesday Earnings Include: Zoom Video

Thursday Earnings Include: Kroger

Friday Earnings Include

-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 28 2020

 Which Stocks Moved US ETF’s Last Week

SPX ETF Top 5 2 28 2020
 US Stock Indices Performance

US Indices W 2 28 2020
 

S&P 500

What is clear the SPX wave 5 extension which euphoricly ignored both Iran and Covid19 was completitive with impulse accelrating when it closed under the tenkan. The impulse down found little supoprt until the October 2019 lows over 400 handles from the peak. A manic wave 5 or 3 of some degree resolution for the ages.  Recall all hallmarks of a mania, +5/8 Daily MM over the chikou in 5 violent waves. We need to be open minded was Fridays move a wave 3 of 1 down or ABC of a larger IV? Note Chikou rebalance in order.

SPX D 2 28 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 28 2020
 

Semiconductors ETF – SMH

SMH W 2 28 2020
 

Apple $AAPL

( Leading underlying strength of US Indices)

 AAPL W 2 29 2020

Amazon $AMZN

AMZN W 2 28 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 28 2020
 

Energy and Commodities

US Crude Oil (WTI)

WTI got the panic base Friday in 5 waves from the recent highs to -4/8,  we expect impulse from here, question is was that completing a C or 3 of something larger. Resistance is 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.  Support is MM, Previous Lows and extensions.

WTI D 2 28 2020

WTI accelerated lwoer after broke the weekly uptrend, a fractal of the sharp and all th eway to yearly lows from here we see if traction to work out from 3 waves  Key resistance is Kijun and 50wma confluence (green) which all failed aftet the violent spike up. Support channel and fib conflageration with MM 1.8

WTI W 2 28 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 W 2 28 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 28 2020

 

Baltic Dry Index (BDI)

BDI W 2 28 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.

 

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

 

 

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 28 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 28 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 28 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 28 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 28 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 28 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 28 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 28 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 28 2020
 

The Week Ahead

Key US Economic and Central Bank Events This Week

Sunday, March 1, 2020

Monday, March 2, 2020

  • 00:30 AUD Commodity Prices (YoY)
  • 01:00 RUB Markit Manufacturing PMI (Feb)
  • 03:15 EUR Spanish Manufacturing PMI (Feb)
  • 03:30 CHF procure.ch PMI (Feb)
  • 03:30 HKD Retail Sales (YoY) (Jan)
  • 03:45 EUR Italian Manufacturing PMI (Feb)
  • 03:50 EUR French Manufacturing PMI (Feb)
  • 03:55 EUR German Manufacturing PMI (Feb)
  • 04:00 EUR Manufacturing PMI (Feb)
  • 04:30 GBP BoE Consumer Credit (Jan)
  • 04:30 GBP M4 Money Supply (MoM) (Jan)
  • 04:30 GBP Manufacturing PMI (Feb)
  • 04:30 GBP Mortgage Approvals (Jan)
  • 07:30 EUR ECB’s De Guindos Speaks
  • 09:30 CAD RBC Manufacturing PMI (Feb)
  • 09:45 USD Manufacturing PMI (Feb)
  • 10:00 USD Construction Spending (MoM) (Jan)
  • 10:00 USD ISM Manufacturing PMI (Feb)
  • 11:30 USD 3-Month Bill Auction
  • 11:30 USD 6-Month Bill Auction
  • 16:45 NZD Terms of Trade Index (QoQ) (Q4)
  • 18:00 KRW CPI (MoM) (Feb)
  • 18:00 KRW GDP (QoQ) (Q4)
  • 18:50 JPY Monetary Base (YoY)
  • 19:00 AUD HIA New Home Sales (MoM)
  • 19:00 NZD ANZ Commodity Price Index (MoM)
  • 19:30 AUD Building Approvals (MoM) (Jan)
  • 19:30 AUD Current Account (Q4)
  • 19:30 AUD Net Exports Contribution (Q4)
  • 19:30 AUD Private House Approvals (Jan)
  • 22:30 AUD RBA Interest Rate Decision (Mar)
  • 22:30 AUD RBA Rate Statement
  • 22:35 JPY 10-Year JGB Auction

Tuesday, March 3, 2020

  • 00:00 JPY Household Confidence (Feb)
  • 01:45 CHF GDP (QoQ) (Q4)
  • 02:45 EUR French Government Budget Balance (Jan)
  • 03:00 EUR Spanish Unemployment Change
  • 03:00 EUR ECB’s De Guindos Speaks
  • 04:00 EUR Italian Monthly Unemployment Rate (Jan)
  • Tentative GBP BoE FPC Meeting Minutes
  • 04:30 GBP Construction PMI (Feb)
  • 05:00 EUR Core CPI (MoM) (Feb)
  • 05:00 EUR CPI (MoM) (Feb)
  • 05:00 EUR PPI (MoM) (Jan)
  • 05:00 EUR Unemployment Rate (Jan)
  • 08:00 SGD Manufacturing PMI (Feb)
  • 08:55 USD Redbook (MoM)
  • 09:45 USD ISM NY Business Conditions (Feb)
  • 09:45 USD ISM-New York Index (Feb)
  • 10:00 USD IBD/TIPP Economic Optimism
  • 10:20 NZD GlobalDairyTrade Price Index
  • 14:50 USD FOMC Member Mester Speaks
  • 16:00 KRW FX Reserves – USD (Feb)
  • 16:30 USD API Weekly Crude Oil Stock
  • 16:30 AUD AIG Construction Index (Feb)
  • 16:30 AUD AIG Services Index (Feb)
  • 16:45 NZD Building Consents (MoM) (Jan)
  • 17:00 AUD Services PMI
  • 18:00 USD Total Vehicle Sales
  • 18:50 USD Chicago Fed President Evans Speaks
  • 19:00 AUD MI Inflation Gauge (MoM)
  • 19:30 AUD GDP (QoQ) (Q4)
  • 19:30 AUD RBA Chart Pack Release
  • 19:30 JPY Services PMI (Feb)
  • 19:30 HKD Manufacturing PMI (Feb)
  • 20:45 CNY Caixin Services PMI (Feb)

Wednesday, March 4, 2020

  • 02:00 EUR German Retail Sales (MoM) (Jan)
  • 02:30 CHF CPI (MoM) (Feb)
  • 03:15 EUR Spanish Services PMI (Feb)
  • 03:45 EUR Italian Composite PMI (Feb)
  • 03:45 EUR Italian Services PMI (Feb)
  • 03:50 EUR French Markit Composite PMI (Feb)
  • 03:50 EUR French Services PMI (Feb)
  • 03:55 EUR German Composite PMI (Feb)
  • 03:55 EUR German Services PMI (Feb
  • ) 04:00 EUR Italian GDP (QoQ) (Q4)
  • 04:00 EUR Markit Composite PMI (Feb)
  • 04:00 EUR Services PMI (Feb)
  • 04:30 GBP Composite PMI (Feb)
  • 04:30 GBP Services PMI (Feb)
  • 05:00 EUR Retail Sales (MoM) (Jan)
  • Tentative GBP BoE MPC Treasury Committee Hearings
  • 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
  • 08:15 USD ADP Nonfarm Employment Change (Feb)
  • 08:30 CAD Labor Productivity (QoQ) (Q4)
  • 09:45 USD Markit Composite PMI (Feb)
  • 09:45 USD Services PMI (Feb)
  • 10:00 USD ISM Non-Manufacturing PMI (Feb)
  • 10:00 CAD BoC Rate Statement
  • 10:00 CAD BoC Interest Rate Decision
  • 10:30 USD Crude Oil Inventories
  • 13:00 GBP BoE MPC Member Broadbent Speaks
  • 13:30 EUR German Buba President Weidmann Speaks
  • 14:00 USD Beige Book
  • 16:00 KRW FX Reserves – USD (Feb)
  • 17:00 USD FOMC Member Bullard Speaks
  • 18:00 KRW Current Account (Jan)
  • 19:01 GBP BRC Retail Sales Monitor (YoY) (Feb)
  • 19:30 AUD Trade Balance (Jan)
  • 22:35 JPY 30-Year JGB Auction

Thursday, March 5, 2020

  • 05:00 USD OPEC Meeting
  • 06:30 EUR Spanish Consumer Confidence
  • 07:30 USD Challenger Job Cuts (Feb)
  • 08:00 GBP BoE MPC Member Haldane Speaks
  • 08:30 USD Continuing Jobless Claims
  • 08:30 USD Initial Jobless Claims 216K
  • 08:30 USD Jobless Claims 4-Week Avg.
  • 08:30 USD Nonfarm Productivity (QoQ) (Q4)
  • 08:30 USD Unit Labor Costs (QoQ) (Q4)
  • 10:00 USD Durables Excluding Defense (MoM) (Jan)
  • 10:00 USD Factory Orders (MoM) (Jan)
  • 10:30 USD Natural Gas Storage
  • 11:30 USD 4-Week Bill Auction
  • 11:30 USD 8-Week Bill Auction
  • 12:00 GBP BoE Gov Carney Speaks
  • 12:45 CAD BoC Gov Poloz Speaks
  • 16:30 AUD AIG Services Index (Feb)
  • 18:30 USD FOMC Member Kaplan Speaks
  • 18:30 JPY Household Spending (MoM) (Jan)
  • 18:50 JPY Foreign Reserves (USD) (Feb)
  • 19:01 GBP RICS House Price Balance (Feb)
  • 19:30 AUD Retail Sales (MoM) (Jan)
  • 20:00 USD FOMC Member Kashkari Speaks
  • 20:45 USD FOMC Member Williams Speaks

Friday, March 6, 2020

  • 00:00 JPY Coincident Indicator (MoM) (Jan)
  • 00:00 JPY Leading Index (MoM) (Jan)
  • 02:00 EUR German Factory Orders (MoM) (Jan)
  • 02:45 EUR French Current Account (Jan
  • 02:45 EUR French Reserve Assets Total (Feb)
  • 02:45 EUR French Trade Balance (Jan)
  • 03:00 EUR Spanish Industrial Production (YoY) (Jan)
  • 03:30 GBP Halifax House Price Index (MoM) (Feb)
  • 03:30 HKD Foreign Reserves (USD) (Feb)
  • 04:00 EUR Italian Retail Sales (MoM) (Jan)
  • 04:30 GBP Inflation Expectations
  • 05:00 USD OPEC Meeting
  • 08:30 USD Average Hourly Earnings (MoM) (Feb)
  • 08:30 USD Average Weekly Hours (Feb)
  • 08:30 USD Manufacturing Payrolls (Feb)
  • 08:30 USD Nonfarm Payrolls (Feb)
  • 08:30 USD Participation Rate (Feb)
  • 08:30 USD Trade Balance (Jan)
  • 08:30 USD Unemployment Rate (Feb)
  • 08:30 CAD Employment Change (Feb)
  • 08:30 CAD Full Employment Change (Feb)
  • 08:30 CAD Part Time Employment Change (Feb)
  • 08:30 CAD Trade Balance (Jan)
  • 08:30 CAD Unemployment Rate (Feb)
  • 09:20 USD Chicago Fed President Evans Speaks
  • 09:20 USD FOMC Member Mester Speaks
  • 10:00 USD Wholesale Trade Sales (MoM) (Jan)
  • 10:00 CAD Ivey PMI (Feb)
  • 11:20 USD FOMC Member Bullard Speaks
  • 14:00 USD FOMC Member Rosengren Speaks
  • 14:00 USD FOMC Member Williams Speaks
  • 14:30 USD CFTC Speculative net positions
  • 15:00 USD Consumer Credit (Jan)
  • 15:30 USD FOMC Member George Speaks

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

 

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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!

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