EQUITIES: Equities remain under pressure
Mar-24 11:20
- VGM3 hit in 7k as it breaks now low, and next support is now seen towards the 4008.00 area.
- SX7Eis juts off the low and still far away from the low level seen on Monday at 90.57, now at 94.40.
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CHINA-RUSSIA: Putin Talks Up China Relations & Trade In Talks With Senior Diplo
Feb-22 11:16
MNI (London) - Wires reporting comments from Russian President Vladimir Putin as he hosts top Chinese diplomat Wang Yi in Moscow. Putin says that 'Russian-Chinese relations are developing well...we are reaching new levels of cooperation...we could reach new levels of trade this year...China trade goals may be achieved earlier than planned.'
- Says that he is 'looking forward to speaking to [Wang] about the international situation', which he describes as 'difficult'. The two sides expressed best wishes to one another's presidents.
- Putin: 'We await Xi visit to Russia'. Comes after WSJ story on 22 Feb stating that according to its sources, Xi is planning a trip to Russia in the spring (unconfirmed as yet by Chinese officials).
- Through a translator, Wang states that 'Crisis affects relations, but crises can be opportunities.' Adds that 'Our relations will not succumb to pressure from third countries...we are ready to deepen strategic cooperation with Russia.'
- Wang's comments come after more conciliatory rhetoric towards Europe in particular during his visit to a number of EU member states prior to his Russia trip. The offer of a China-led peace plan in Ukraine has gained little-to-no traction, with EU capitals sceptical of Beijing's aims.
EUR: EURCHF drifts towards yesterday's low
Feb-22 11:07
- EURCHF is slowly drifting back towards yesterday's low, with the EUR mostly on the back foot against G10, also a function of the Dollar for the EUR weakness.
- EUR is still up versus the AUD, and circa flat against the Pound, NOK and CAD.
- Yesterday's low in EURCHF is at 0.98481, but better is seen at 0.98467, the February low.
OUTLOOK: Wednesday Data Calendar: Feb FOMC Minutes; 2Y FRN, 5Y Note Sales
Feb-22 11:05
- US Data/Speaker Calendar (prior, estimate)
- Feb-22 0700 StL Fed Bullard interview w/ Steve Liesman, CNBC Squawk Box
- Feb-22 0700 MBA Mortgage Applications (-7.7%, --)
- Feb-22 1130 US Tsy $22B 2Y FRN reopen (91282CGF2); $36B 17W bills
- Feb-22 1300 US Tsy $43B 5Y Note auction (91282CGP0);
- Feb-22 1400 Feb FOMC Minutes
- Feb-22 1730 NY Fed Williams moderated discussion on inflation, no text, live-streamed
