You are here: Home > Forex > ETX Capital Daily Market Bite, 20th February, 2013: Firmer Markets; BOE Minutes Suggest More QE
ETX Capital Daily Market Bite, 20th February, 2013: Firmer Markets; BOE Minutes Suggest More QE
February 20, 2013 11:25 amVideo
Latest News
- Video market update for April 23, 2024 April 23, 2024
- Trading Signals for EUR/USD for April 23-25, 2024: buy above 1.0681 (21 SMA – 3/8 Murray) April 23, 2024
- Analysis for the EUR/USD pair on April 23rd. Euro currency prepares for another decline April 23, 2024
- Analysis for the GBP/USD pair on April 23rd. Sellers failed to take the mark of 1.2313 on the first attempt April 23, 2024
- Technical Analysis – AUDUSD gears up after disappointing US PMIs April 23, 2024
- Technical Analysis – Meta stock falls below 50-SMA ahead of earnings April 23, 2024
- USD/JPY: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- GBP/USD: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- Technical Analysis – USDJPY fights with new 34-year high April 23, 2024
- EUR/USD: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- Alphabet Q1 Earnings: Strong ad business but AI initiatives lag – Stock Markets April 23, 2024
- GBP/USD: trading plan for the US session on April 23rd (analysis of morning deals). The pound continues to decline April 23, 2024
- EUR/USD: trading plan for the US session on April 23rd (analysis of morning deals). The euro has shown rapid growth April 23, 2024
- EUR/USD. April 23rd. Bulls and bears are in balance April 23, 2024
- GBP/USD. April 23rd. The bears continue to attack April 23, 2024
- Gold edges lower as Middle East tensions ease April 23, 2024
- Slightly lower volatility across the board ahead of key US data – Volatility Watch April 23, 2024
- Technical Analysis – UK 100 index hits new all-time highs but rally may be cooling April 23, 2024
- XM Teams up with ‘Charity Right’ for Change April 23, 2024
- Technical Analysis – US 500 index rebounds off 2-month low below 5,000 April 23, 2024
February 20th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist
After having the strongest day of the year so far, European stock markets are in consolidation mode ahead of a deluge of economic data and minutes from the BOE first and the Federal Reserve after the European market close. European stocks advanced Tuesday, propped up by a solid German ZEW number. The improved sentiment helped US markets too, with investors shrugging off a dull NAHB housing report – the S&P500 made a fresh high for the year, ending at 1531, not too far off its all-time closing high of 1565 registered in October 2007. As such, traders this morning are pausing for breath but risk remained skewed to the upside. French business confidence rose to 90 on the month versus consensus of 87 and the prior month was revised higher to 87 from 86. German PPI rose 0.8% on the month, stronger than expected thanks to higher electricity costs. Attention now turns to UK jobs data, US housing starts and euro zone consumer confidence figures. The BOE’s minutes will be eagerly eyed with markets looking for clues on the MPC’s stance on further QE. Fed minutes on the other hand should shed more light on where the FOMC stand on reducing or exiting QE and their view of the US economy. Both releases are potential event-risks, prompting a degree of caution. The upcoming Italian election this weekend may also unnerve the market in the sessions ahead, as will the upcoming US spending sequesters. Room for further upside for these reasons may be capped with markets likely to remain range-bound until we clear both the Italian and US hurdles.
Visit http://www.etxcapital.co.uk/
Find us on social media to be kept up to date with the latest ETX Capital news:
Facebook: https://www.facebook.com/#!/ETXCapitalGroup
Twitter: https://twitter.com/#!/etxcapital
LinkedIn: http://www.linkedin.com/company/445425?trk=tyah
ETX Capital’s RSS site: http://my.etxcapital.co.uk/
Related Posts: