ECB meeting, will Lagarde prepare markets for a June move ?
Bank of Japan (BOJ) board member Junko Nakagawa said the economy was making steady progress towards achieving the central bank's 2% inflation target and signalled conviction that conditions for phasing out its massive stimulus were falling into place
Bank of Japan now owns nearly 60% of the entire Japanese government bonds..
Wang Yi says U.S. sanctions on China have reached 'bewildering absurdity'. Foreign minister hails Russia ties in closely watched news conference
U.S. Households are now spending a record $573.4 billion on non-mortgage interest payments which for the first time in history is roughly the same as mortgage interest payments
Egypt Central Bank raise rates by 6% to near 28%, and let currency 'float', weakened sharpy to 50 pounds to the $
Several undersea communications cables in the Red Sea have been cut, affecting 25% of data traffic flowing between Asia and Europe
Tesla: Morgan Stanley cuts EV-maker price target, warns this could be the year Tesla loses money
Gold is flying but miners are left in the dirt (for now?) .Cheap targets abound, with some juniors reaching point where investment needs of projects look overwhelming. Platinum market expected to see a deficit of 418K, after a record deficit of 878 in 2023 - WPIC
Bullish Bets on U.S. Tech Stocks are at 3-year highs according to Citi
Markets : U.S ADP was 140K and JOLTS ( slightly weaker than exp), Powell data dependent, patience, rate cut coming, sticky inflation (higher base at 3+ ?)..markets not really diverge from expectations of about 3x cuts in 2024. ECB unch clearly, Lagarde could well give a nod that a cut is coming in June. USDJPY - it could get nasty if we get a decent BoJ move, particularly with slightly softer US data right now, NFP tom !
Summary: Gold has resumed uptrend after taking out key resistance levels. The precious metal seems to be pausing gathering strength for next bullish move that is likely to push Gold higher. Indicators are suggesting levels of 2,300-2,400
Despite having established an uptrend Silver is lagging Gold. Strong resistance at 26 likely to be tested, however, but can it also break it?
Egypt floats its currency and agrees with the IMF to increase a bailout loan to $8 billion (msn.com)
Liz Ann Sonders on X: "Worth keeping an eye on employment components in ISM Manufacturing (blue) and Services (orange) PMIs … both are softening and in contraction as of February https://t.co/fKp1hUhbn6" / X (twitter.com)
Barchart on X: "Ratio of gold stocks to gold just fell to 0.1 for only the 3rd time in 50 years 👀 https://t.co/nwBh2qwtSg" / X (twitter.com)
CNBC's Fast Money on X: ""Everything about these companies says 'buy, buy, buy...'" @TimSeymour reacts to $JD's big earnings beat and $3B buyback plan $BABA $PDD $KWEB https://t.co/oNRXzc7ypF" / X (twitter.com)
Switzerland is one of the richest countries in the world, and those who work there are expected to enjoy a prosperous life. At least, in theory. In practice, this myth has been shattered over the years. Today, many are suffering financially.
Morgan Stanley cuts Tesla's price target, warns this could be the year Tesla loses money (yahoo.com)
USDJPY - it could get nasty if we get a decent BoJ move, particularly with slightly softer US data right now, NFP tom !
EU50 stocks - good ride since Jan - slower momentum - never hurts to take some P
