-1676022672.png)
Daily Market Outlook, February 10, 2023Valentines Day Pick For BoJ Chief Could Prove To Be A Heartbreaker For Yen BearsAsian equities are mostly lower overnight as declines in US equities persisted following reports suggesting Fed comments that US interest rates have further to rise. Chinese inflation data for January was mixed as annual producer price inflation fell to -0.8% in January but consumer price inflation rose to 2.1% from 1.8% in December. The Japanese government has confirmed that it will announce its nominee for the next Bank of Japan Governor on 14th February, market chatter that the BoJ pick is believed to be the more hawkish ex board member Ueda after the favourite for the nomination refused to accept the role, has led to strengthening in the Yen overnight.In the US, consumer confidence has been rebounding after huge declines witnessed last year. The retreat in gas prices stateside has helped buffer sentiment, however today’s University of Michigan consumer sentiment survey, is thought to show another round of softness. The latest sentiment on inflationary expectations will also be eyed with the recent rebound in gas prices a concern.FX Options Expiration New York CutEURGBP .8800(425mln) .9390(580mln)Overnight News of NoteAsia Stocks Head For Second Weekly Loss As Fed Rate Worries FlareJapan Govt To Present Next BoJ Governor Nominee On Feb 14RBA Raises Inflation, Wages Forecasts, Sees Further Rate HikesChina Factory Deflation Deepens, Consumer Prices Rise In JanuaryJapan’s Wholesale Inflation Stays Elevated, Keeps BoJ Under PressureBoJ Kuroda: Will Keep Easing As Long As Needed For Price GoalBoJs Amamiya: See No Need Now To Make YCC More FlexibleJapan’s Suzuki: Must Discuss Joint Accord With New BoJ GovernorFed’s Foot ‘Unequivocally’ On Brake, Sensible To Move Slower, Barkin SaysBank Of England Officials Split Over Future Path For RatesDollar Defensive As Investors Remain Cautious Ahead Of Inflation DataTreasury Yield-Curve Inversion Reaches Deepest Level Since 1980sPBoC 3-Day Cash Injection Hits 1 Trillion Yuan To Ease SqueezeBoJ To Offer 5yr Loans To Banks On Feb. 14 To Help Cap YieldsOil Trims Weekly Gain As Slowdown Concerns Counter China DemandGoldman Cuts Oil Forecasts On Softer 2023 Demand-Supply BalancePayPal Says Volume Growth Slowed; CEO Schulman To Retire(Sourced from Bloomberg, Reuters and other reliable financial news outlets)Technical & Trade ViewsSP500 Bias: Intraday Bullish Above Bearish Below 4050Primary support is 3990Primary objective is 4384Below 4040 opens 400020 Day VWAP bullish, 5 Day VWAP bearishEURUSD Bias: Intraday Bullish Above Bearish below 1.0810Primary resistance is 1.0950Primary objective is 1.06Below 1.0580 opens 1.050020 Day VWAP bearish, 5 Day VWAP bearishGBPUSD Bias: Intraday Bullish Above Bearish below 1.21Primary resistance is 1.21Primary objective 1.1840Above 1.2165 opens 1.226020 Day VWAP bearish, 5 Day VWAP bearishUSDJPY Bias: Intraday Bullish above Bearish Below 131Primary support is 130Primary objective is 134.70Below 130.80 opens 130.1120 Day VWAP bullish, 5 Day VWAP bullishAUDUSD Bias: Intraday Bullish Above Bearish below .7050Primary resistance is .7050Primary objective is .6750Above .7150 opens .725020 Day VWAP bearish, 5 Day VWAP bullishBTCUSD Intraday Bias: Bullish Above Bearish below 21500Primary support 21200Primary objective is 25000Below 20300 opens 1950020 Day VWAP bullish, 5 Day VWAP bearish
Source link
