LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
May-25 05:18
| Date | Time | Country | Event |
| 25-May | 0700 | DE | GDP (f) / GfK Consumer Climate |
| 25-May | 0745 | FR | Manufacturing Sentiment |
| 25-May | 0800 | ES | PPI |
| 25-May | 1000 | EU | ECB de Guindos Presents ECB Annual Report 2022 |
| 26-May | 0745 | FR | Consumer Sentiment |
| 26-May | 0840 | EU | ECB Lane Panels Dubrovnik Econ Conference |
| 26-May | 0900 | IT | ISTAT Business / Consumer Confidence |
| 30-May | 0800 | ES | HICP (p) |
| 30-May | 0900 | EU | M3 |
| 30-May | 0900 | IT | PPI |
| 30-May | 1000 | EU | EZ Economic Sentiment Indicator |
| 31-May | 0745 | FR | HICP (p) / PPI / GDP (f) / Consumer Spending |
| 31-May | 0855 | DE | Unemployment |
| 31-May | 0900 | IT | GDP (f) |
| 31-May | 1000 | IT | HICP (p) |
| 31-May | 1300 | DE | HICP (p) |
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LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
Apr-25 05:18
| 25-Apr | 0800 | ES | PPI |
| 25-Apr | 0900 | EU | ECB Supervisory Board Chair Andrea Enria and MNI event |
| 26-Apr | 0700 | DE | GFK Consumer Climate |
| 26-Apr | 0745 | FR | Consumer Sentiment |
| 26-Apr | 1300 | EU | ECB de Guindos Panels Delphi Economic Forum |
| 27-Apr | 0900 | IT | ISTAT Business / Consumer Confidence |
| 27-Apr | 1000 | EU | EZ Economic Sentiment Indicator |
| 27-Apr | 1715 | EU | ECB Panetta at EACB Board Meeting |
| 28-Apr | ---- | EU | ECB Lagarde at Post-Eurogroup Meeting Press Conference |
| 28-Apr | ---- | EU | ECB Lagarde, Panetta, de Guindos Eurogroup/ECOFIN Meet |
| 28-Apr | 0630 | FR | GDP (p) |
| 28-Apr | 0745 | FR | HICP (p) / PPI / Consumer Spending |
| 28-Apr | 0800 | ES | HICP (p) / GDP (p) |
| 28-Apr | 0855 | DE | Unemployment |
| 28-Apr | 0900 | IT | GDP (p) |
| 28-Apr | 0900 | DE | GDP (p) |
| 28-Apr | 1000 | EU | EMU Preliminary Flash GDP |
| 28-Apr | 1300 | DE | HICP (p) |
EQUITIES: China/HK Weakness Continues, South Korean Stocks Down Sharply On Regulator Warning
Apr-25 05:13
On-going weakness in China/HK equities remains the main focus in Asia Pac. US futures have been weighed down by these developments, with Eminis and Nasdaq futures last off by a little over 0.3%. South Korean stocks have also sold off sharply following a regulatory warning. Positive Japan sentiment has only provided a modest offset.
- For the US, there wasn’t much reaction in e-minis to First Republic’s earnings, published after hours on Monday. A quick reminder that the bank revealed a sharper than expected round of deposit outflows during the well-documented tumult that got underway in March, although it noted the situation has stabilised in recent weeks. It also removed previous guidance, chose not to answer any questions on its earnings call and disclosed that it is pursuing “strategic options” re: the shape of the firm going forwards. Weakness in China/HK markets weighed more heavily on US trends.
- Geopolitical worry re: potential fresh U.S. action against the Chinese chip sphere have been a key headline driver of the weakness observed over the last couple of sessions. The CSI 300 has continued to correct lower, off a further 0.50% to 3962, well below the index's 200-day MA. Adding pressure was a report that China is 'urgently' studying ways to boost consumption.
- In HK, the HSI is down 1.62% at the break, with the tech index losing close to 3.5% at this stage.
- The Kosdaq, in South Korea is off by 2.4%, the Kospi 1.6%. The FSS chair stated concerns over the Kosdaq overheating and excessive leverage for investments, which weighed heavily on sentiment. Offshore investors have sold $160.3mn of local shares today.
- Japan shares are modestly higher, the Topix +0.25%, with the tech sector higher following a chip subsidy boost.
EURGBP TECHS: Bullish Price Action
Apr-25 05:12
- RES 4: 0.8918 76.4% retracement of the Feb 3 - Mar 15 bear leg
- RES 3: 0.8880 61.8 retracement of the Feb 3 - Mar 15 bear leg
- RES 2: 0.8872 High Apr 17
- RES 1: 0.8861 High Apr 21
- PRICE: 0.8855 @ 06:10 BST Apr 25
- SUP 1: 0.8792 Low Apr 19
- SUP 2: 0.8763/8729 Low Apr 11 / 4
- SUP 3: 0.8719 Low Mar 15 and key support
- SUP 4: 0.8712 61.8% retracement of the Dec 1 - Feb 3 bull leg
A bull cycle in EURGBP remains in play and the cross is holding on to its most recent gains. Price has traded above trendline resistance that intersects at 0.8839 - drawn from the Feb 3 high. 0.8866, the Mar 23 high, has been pierced - on Apr 17. A clear break of the trendline and 0.8866 would open 0.8880, a Fibonacci retracement. Key support is 0.8719, Mar 15 low. A break of this level would be bearish. Initial firm support lies at 0.8792, Apr 19 low.
