- Markets in the APAC region traded in a slightly weaker mood. Chinese indices recorded sizable declines, which negated part of the rebound seen recently. The Hang Seng is currently losing 2.02%. Markets in Korea and Japan are posting slight gains.
- The U.S. Treasury Department expects to take on $760 billion in net market debt in the January-March period, down $55 billion from the October 2023 estimate. The news triggered a drop in US 10-year yields during yesterday's session.
- European futures point to a higher opening in the European cash session.
- Highlights for the day include: regional eurozone inflation data, a GDP report from the eurozone, and JOLTS data. The calendar will be topped off with quarterly reports from UPS, Pfizer, Marathon Petroleum, Microsoft, Alphabet, Starbucks and AMD.
- BBVA's 4Q23 results:
- - Q4 Net interest income: EUR 5.25 billion (est EUR 5.89 billion)
- - Q4 net income: EUR 2.06 billion (est EUR 1.95 billion)
- - FY Net income: EUR 8.02 billion (est EUR 4.9 billion)
- - Bad loan ratio: 3.4% at end-December
- Saudi Arabia orders oil giant Aramco not to increase production capacity.
- ECB representatives, including Lane and Nagel, will speak on Tuesday.
- Wages in China are falling fast. Average wages in Q4 in 38 major cities fell 1.3% y/y.
- Retail sales in Australia in December -2.7% m/m (-0.9% expected).
- Prices in British stores rose this month at the slowest annual pace since May 2022, the British Retail Consortium reported Tuesday. On Thursday, investors will learn the BoE's latest interest rate decision.
- In the currency market, the New Zealand dollar and the Canadian dollar are currently performing best. The euro and the pound are currently trading under heavy downward pressure. The EURUSD pair is holding slightly above the zone of the 200-day exponential moving average.
- Cryptocurrencies continue to rise, with Bitcoin clearly breaking out above the $43,000 barrier.
The EURUSD pair is trading in the zone of key supports. Source: xStation
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
