LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)

Feb-22 06:17
Date Time Country Event
22-Feb 0745 FR Manufacturing Sentiment
22-Feb 0815 FR S&P Global Services/Manufacturing/Composite PMI (p)
22-Feb 0830 DE S&P Global Services/ Manufacturing PMI (p)
22-Feb 0900 IT Italy Final HICP
22-Feb 0900 EU S&P Global Services/ Manufacturing/Composite PMI (p)
22-Feb 1000 EU HICP (f)
23-Feb 0700 DE GDP (f)
23-Feb 0800 EU ECB's Lagarde and Cipollone in Eurogroup meeting
23-Feb 0800 EU ECB's Lagarde, de Guindos,Cipollone in ECONFIN meeting
23-Feb 0900 DE IFO Business Climate Index
23-Feb 0900 EU ECB Consumer Expectations Survey
23-Feb 0920 EU ECB's Schnabel lecture on Inflation fight at Bocconi
23-Feb 1300 EU ECB's Schnabel speech at Forum Analysis
23-Feb 1400 BE BNB Business Sentiment

Historical bullets

US TSY FUTURES: TU Blocked

Jan-23 06:13

The flow highlight during Asia-Pac hours came via a 1.5K lots block of TUH4 futures at 102-19.125, looked like a seller. DV01 ~$57K.

EURGBP TECHS: Bear Threat Remains Present

Jan-23 06:07
  • RES 4: 0.8768 High Nov 20
  • RES 3: 0.8715 High Dec 28 and the bull trigger
  • RES 2: 0.8676 High Jan 3
  • RES 1: 0.8605/28 20- and 50-day EMA values
  • PRICE: 0.8561 @ 06:06 GMT Jan 23
  • SUP 1: 0.8549 Low Dec 11 and the bear trigger
  • SUP 2: 0.8524 Low Sep 5
  • SUP 3: 0.8493 Low Aug 23 2023 and a key medium-term support
  • SUP 4: 0.8454 61.8% of the Mar 7 - Sep 26 ‘23 bull phase

EURGBP is unchanged. A bear threat remains present and the cross continues to trade closer to its recent lows. Moving average studies are in a bear-mode position highlighting a clear downtrend - for now. Sights are on key support at 0.8549, the Dec 11 low. A break would open 0.8493, the Aug 23 ‘23 low and a key support. The 50-day EMA, at 0.8628, is the initial firm resistance to watch. Clearance of the average would ease bearish pressure.

SCHATZ TECHS: (H4) Bearish Conditions Intact

Jan-23 06:02
  • RES 4: 106.640 High Dec 29 and the bull trigger
  • RES 3: 106.360 Low Jan 3
  • RES 2: 106.270 High Jan 5
  • RES 1: 106.094 20-day EMA
  • PRICE: 105.865 @ 06:26 GMT Jan 22
  • SUP 1: 105.780 Low Dec 1 and Jan 19
  • SUP 2: 105.730 Low Nov 30
  • SUP 3: 105.660 High Nov 17
  • SUP 4: 105.470 Low Nov 28

The downtrend in Schatz futures remains intact. A key short-term support at 105.955, the Dec 13 low, has recently been cleared. This strengthens a bearish theme and signals scope for a continuation lower. Sights are on 105.730 next, the Nov 30 low. Initial key resistance is 106.270, the Jan 5 / 12 high. A clear breach of this hurdle would ease bearish pressure and signal a reversal. First resistance is 106.094, the 20-day EMA.