US: FED Reverse Repo Operation
RRP usage inches up to $136.305B this afternoon from $129.269B Thursday. Compares to $58.770B (lowest level since mid-April 2021) on February 14. The number of counterparties at 33 from 35 prior.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
MNI EXCLUSIVE: MNI Speaks to Head of ISM's Services Index
- MNI spoke with the head of the ISM's services index about the outlook for demand and inflation -- On MNI Main Policy Wire now, see sales@marketnews.com for details.
US: White House Press Conference Underway Shortly
White House Press Secretary Kaoline Leavitt is shortly due to brief reporters at the White House. LIVESTREAM
- The presser comes amid a rapidly evolving news cycle, beginning with a potential North American trade war on Monday and shifting to Gaza comments made by President Donald Trump at a press conference alongside Israeli Prime Minister Benjamin Netanyahu yesterday.
- Reporters are likely to probe Leavitt on China tariffs and an upcoming call between Trump and Chinese President Xi Jinping. Leavitt is also likely to field extensive questions on Middle East policy and Trump's executive order returning the administration to 'maximum pressure' on Iran.
- Leavitt may also provide clues on Trump's preferred option for legislating Trump's agenda ahead of a meeting with Senate Republicans at Mar-a-Lago on Friday.
EURUSD TECHS: Convincing Break of 20-Day EMA
- RES 4: 1.0594 Dec 9 ‘24
- RES 3: 1.0533 High Jan 27 and a reversal trigger
- RES 2: 1.0443 50-day EMA
- RES 1: 1.0442 High Feb 5
- PRICE: 1.0424 @ 15:52 GMT Feb 5
- SUP 1: 1.0272 Low Feb 4
- SUP 2: 1.0138 1.764 proj of the Sep 25 - Oct 23 - Nov 5 price swing
- SUP 3: 1.0031 2.00 proj of the Sep 25 - Oct 23 - Nov 5 price swing
- SUP 4: 0.9947 76.4% of the Sep 28 ‘22 - Jul 18 ’23 bull leg
The short-term EUR bullish cycle continued Wednesday, with price action gaining background support from the potential hammer candle formation posted in the reversal on Monday. However, additional reinforcing price evidence is required to signal a turn in the trend. MA studies are in a bear-mode position, highlighting a downtrend. 1.0386 (pierced) to 1.0443, the area between the 20-and 50-days EMAs, marks an important resistance zone. A clear break of it would be a bullish development.
