LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
Feb-22 06:18
| Date | Time | Country | Event |
| 22-Feb | 0700 | DE | HICP (f) |
| 22-Feb | 0745 | FR | Manufacturing Sentiment |
| 22-Feb | 0900 | IT | HICP (f) |
| 22-Feb | 0900 | DE | IFO Business Climate Index |
| 22-Feb | 0900 | DE | Destatis Press Conference on Updated CPI Weights |
| 22-Feb | 1400 | BE | BNB Business Sentiment |
| 23-Feb | 1000 | EU | HICP (f) |
| 24-Feb | ---- | EU | ECB Lagarde & Panetta at G20 Finance Minister Meet |
| 24-Feb | 0700 | DE | GFK Consumer Climate / GDP (f) |
| 24-Feb | 0745 | FR | Consumer Sentiment |
| 24-Feb | 0800 | ES | PPI |
| 25-Feb | ---- | EU | ECB Lagarde & Panetta at G20 Finance Minister Meet |
| 27-Feb | 0900 | IT | ISTAT Consumer Confidence |
| 27-Feb | 1000 | EU | M3 / EZ Economic Sentiment Indicator |
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LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
Jan-23 06:18
| Date | Time | Country | Event |
| 23-Jan | 1430 | EU | ECB Panetta Intro at ECON Hearing |
| 23-Jan | 1500 | EU | Consumer Confidence Indicator (p) |
| 23-Jan | 1745 | EU | ECB Lagarde Speech at Deutsche Boerse |
| 24-Jan | 0700 | DE | GFK Consumer Climate |
| 24-Jan | 0745 | FR | Manufacturing Sentiment |
| 24-Jan | 0815 | FR | S&P Global Services/Manufacturing PMI (p) |
| 24-Jan | 0830 | DE | S&P Global Services/Manufacturing PMI (p) |
| 24-Jan | 0900 | EU | S&P Global Services/Manufacturing PMI (p) |
| 24-Jan | 0945 | EU | ECB Lagarde Video Message at Croatia Conference |
| 25-Jan | 0800 | ES | PPI |
| 25-Jan | 0900 | DE | IFO Business Climate Index |
| 25-Jan | 1400 | BE | BNB Business Sentiment |
| 26-Jan | 0900 | IT | ISTAT Business/Consumer Confidence |
| 27-Jan | 0745 | FR | Consumer Sentiment |
| 27-Jan | 0800 | ES | GDP (p) |
| 27-Jan | 0900 | EU | M3 |
US TSYS: Early Richening Holds In Asia
Jan-23 06:06
TYH3 deals at 115-05, +0-03+, off the top of its 0-06+ range on volume of ~45K.
- Cash Tsys 1-2 bps richer across the major benchmarks, with the belly leading the bid.
- Tsys were marginally cheaper to start before reversing to deal richer as a bid in JGB futures and a rally in the intermediate zone of the JGB curve spilled over.
- The richening held through the session, a thin data calendar and limited liquidity due to Lunar NY holiday saw early ranges respected.
- Note that WSJ Fed watcher Timiraos' latest piece (released after the start of the Fed blackout period) noted that "Federal Reserve officials are preparing to slow interest-rate increases for the second straight meeting and debate how much higher to raise them after gaining more confidence inflation will ease further this year."
- ECB speak from Lagarde and the U.S. leading index headlines an otherwise thin docket today. Further out, PCE, Jan Preliminary PMIs and Q4 GDP provide the U.S. highlights this week.
EUROSTOXX50 TECHS: (H3) Overbought Trend Condition
Jan-23 06:05
- RES 4: 4269.50 2.236 proj of the Sep 29 - Oct 4 rise from Dec 20 low
- RES 3: 4230.50 High Feb 10, 2022 (cont)
- RES 2: 4215.00 2.00 proj of the Sep 29 - Oct 4 rise from Dec 20 low
- RES 1: 4206.00 High Jan 18 and the bull trigger
- PRICE: 4145.00 @ 05:47 GMT Jan 23
- SUP 1: 4046.30 20-day EMA
- SUP 2: 3931.20 50-day EMA values
- SUP 3: 3753.00 Low Dec 20 and the bear trigger
- SUP 4: 3720.00 Low Nov 10
EUROSTOXX 50 futures traded lower last Thursday. The broader trend outlook remains bullish, however, the cycle is overbought and this warns of the potential for a short-term pullback. A move lower would allow the overbought reading to unwind. A resumption of weakness would open 4046.30, the 20-day EMA and a key near-term support. Key short-term resistance and the bull trigger has been defined at 4206.00, the Jan 18 high.
