Global Markets:
- Asian stock markets: Nikkei down 0.75 %, ASX 200 up 0.05 %, Shanghai Composite and Hang Seng closed for holiday
- Commodities: Gold at $1167 (+0.80 %), Silver at $14.92 (+0.95 %), WTI Oil at $31.10 (+0.60 %), Brent Oil at $34.30 (+0.70 %)
- Rates: US 10 year yield at 1.87, UK 10 year yield at 1.55, German 10 year yield at 0.29
News & Data:
- Japan BoP Current Account Balance (Dec): JPY 960.7bln (exp JPY 1051.7bln prev JPY 1143.5bln)
- Japan BoP Trade Balance (Dec): JPY 188.7bln (exp JPY 305.3bln prev JPY -271.5bln)
- Japan Labour Cash Earnings (YoY) Dec: 0.1% (exp 0.7% prev 0.0%)
- Australia ANZ Job Advertisements (MoM) Jan: 1.0% (prev -0.1%)
- China FX Reserves (Jan): USD 3.2309tln (exp USD 3.2100tln prev USD 3.3300tln)
- China Gold Reserves (Jan): USD 63.6bln (prev USD 60.2bln)
- Saudi/Venezuela Meeting Ends With No Oil-Production Agreement — WSJ
- Iran Currently Exporting 300,000 Bpd Of Oil To Europe — Press TV
- PBoC To Explore Rate Corridor In Step Toward Liberalisation — BBG
- Swiss EconMin Schneider-Ammann: Low Unemployment Won't Continue — Swiss Info
CFTC Positioning Data:
- EUR short 87K vs. 127K short prior week
- GBP short 45K vs. 47K short prior week
- JPY long 37K vs. 50K long prior week
- CAD short 52K vs. 67K short prior week
- CHF short 5K vs. 4K short prior week
- AUD short 26K vs. 33K short prior week.
- NZD short 8K vs. 5K short prior week
Markets Update:
Markets were quiet overnight, with no major data releases or events and markets in China, Singapore and Hong Kong closed for the Lunar New Year holiday. EUR/USD traded in a 1.1128-49 range, while GBP/USD consolidated between 1.4480 and 1.4515. USD/JPY started the new trading week at 116.800 and rallied to 117.35, supported by gains in the Nikkei. Commodity currencies also recovered slightly, with the AUD/USD rising from 0.7060 to 0.7105 and NZD/USD from 0.6615 to 0.6645. USD/CAD fell to a low of 1.3868 overnight as oil prices rose.
Upcoming Events:
- 09:30 GMT – Euro Zone Sentix Investor Confidence
- 13:15 GMT – Canadian Housing Starts
- 13:30 GMT – Canadian Building Permits
- 15:00 GMT – US CB Employment Trends Index
- 15:00 GMT – US Fed Labour Market Conditions Index
The Week Ahead:
Tuesday, February 11th
- 00:00 GMT – Australia HIA New Home Sales
- 00:30 GMT – Australia NAB Business Confidence
- 06:45 GMT – Swiss Unemployment Rate
- 07:00 GMT – German Industrial Production
- 07:00 GMT – German Trade Balance
- 09:30 GMT – UK Trade Balance
- 15:00 GMT – US JOLTs Job Openings
Wednesday, February 10th
- 07:45 GMT – French Current Account
- 07:45 GMT – French Industrial Production
- 09:00 GMT – Norwegian CPI
- 09:30 GMT – UK Industrial Production
- 09:30 GMT – UK Manufacturing Production
- 15:00 GMT – Fed Chair Yellen testifies
Thursday, February 11th
- 08:15 GMT – Swiss CPI
- 08:30 GMT – Swedish Central Bank Rate Decision
- 13:30 GMT – US Initial Jobless Claims
- 13:30 GMT – Canadian New Housing Price Index
- 22:30 GMT – RBA Governor Stevens speaks
Friday, February 12th
- 00:30 GMT – Australia Home Loans
- 07:00 GMT – German CPI
- 07:00 GMT – German GDP
- 08:00 GMT – Spanish CPI
- 09:00 GMT – Italian GDP
- 10:00 GMT – Euro Zone Industrial Production
- 10:00 GMT – Euro Zone GDP
- 13:30 GMT – US Retail Sales
- 14:55 GMT – US Michigan Consumer Confidence
