Daily Market Analysis page 38

Key events:                                                     Eurozone - ECB President Lagarde Speaks                      USA - ADP Nonfarm Employment Change (Feb) USA - Fed Chair Powell Testifies                      USA - JOLTs Job Openings (Jan)     Canada - BoC Interest Rate Decision USA -…

Key events:                                                     Australia - Retail Sales (MoM)     Australia - RBA Interest Rate Decision (Mar)     Australia - RBA Rate Statement  China - Exports (YoY) (Feb)         China - Imports (YoY) (Feb) China - Trade Balance (USD) (Feb)                    …

Key events:         UK – Construction PMI (Feb) Canada – Ivey PMI (Feb) Despite the Fed's best efforts, the labor market remains overheated as initial jobless claims fell by 2,000 (n/a) to 190,000 and U.S. service sector business activity remains elevated. In the context of fighting inflation,…

Key events:         UK – Composite PMI (Feb) UK – Services PMI (Feb) USA – ISM Non-Manufacturing PMI (Feb) The U.S. stock market ended February uncertain, leaving investors questioning whether the rally seen earlier this year will continue. After a strong January, the Dow Jones Industrial Average…

Key events:         Eurozone – CPI (YoY) (Feb)    Eurozone – ECB Publishes Account of Monetary Policy Meeting      USA – Initial Jobless Claims The economic data that came out in recent days gave us some nice surprises and investors are now trying to figure out what that means in terms of Fed…

Key events:         Australia – GDP (QoQ) (Q4) 0.5% UK – Manufacturing PMI (Feb)   UK – BoE Gov Bailey Speaks      USA – ISM Manufacturing PMI (Feb) USA – Crude Oil Inventories After a very favorable beginning of the year, with two consecutive months of gains, European markets performed…

Key events:         Australia – Retail Sales (MoM) (Jan)   Canada – GDP (MoM) (Dec)    Canada – CB Consumer Confidence (Feb) Monday saw some relief in the market after Friday's correction caused by the Core PCE. The reaction to the report can be called comprehensive, there was another significant…

Key events:         USA – Core Durable Goods Orders (MoM) (Jan) USA – Pending Home Sales (MoM) (Jan) U.S. stock indices tumbled Friday on reports of continued high inflation in the country. The Dow Jones Industrial Average fell 336.99 points (1.02%) to 32816.92 points. Microsoft Corp (NASDAQ:…

Key events:         USA – Core PCE Price Index (MoM) (Jan) USA – New Home Sales (Jan) The latest GDP data from the U.S. showed that the U.S. economy grew 2.7% in Q4, not 2.9% as analysts had anticipated. Softer economic growth might have helped ease inflation and softened the Fed's hand. That…

Key events:         Eurozone – CPI (YoY) (Jan)   USA – GDP (QoQ) (Q4)   USA – Initial Jobless Claims   USA – Crude Oil Inventories When investors invest in gold, they are not at all hedging against a government default. Ironically, they are actually betting that the Federal Reserve (Fed) will…

Key events:         New Zealand – RBNZ Interest Rate Decision New Zealand – RBNZ Rate Statement      New Zealand – RBNZ Press Conference      USA – FOMC Meeting Minutes   First of all, there are enough reasons for optimism in the market, and each of them is quite convincing. China is lifting the…

Key events:         Austalia – RBA Meeting Minutes      UK – Composite PMI     UK – Manufacturing PMI   UK – Services PMI Canada – Core CPI (MoM) (Jan)   Canada – Core Retail Sales (MoM) (Dec) USA – Ex-sting Home Sales (Jan) The dollar weakened slightly against the euro, the Danish, and the…