RATINGS: Friday’s Rating Slate
Mar-24 06:32
Sovereign rating reviews of note slated for after hours on Friday include:
- Fitch on Malta (current rating: A+; Outlook Stable)
- Moody’s on Estonia (current rating: A1; Outlook Stable) & Poland (current rating: A2; Outlook Stable)
- S&P on Germany (current rating: AAA; Outlook Stable)
- DBRS Morningstar on Finland (current rating: AA (high), Stable Trend) & France (current rating: AA (high), Stable Trend)
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BTP TECHS: (H3) Sell Off Accelerates
Feb-22 06:26
- RES 4: 121.26 0.764 proj of the Dec 30 - Jan 19 - 30 price swing
- RES 3: 120.00 Psychological round number
- RES 2: 118.56/96 High Jan 19 / Dec 7 and a key resistance zone
- RES 1: 116.33/118.18 High Feb 9 / High Feb 2
- PRICE: 112.83 @ 15:24 GMT Feb 21
- SUP 1: 112.51 Low Feb 16
- SUP 2: 112.26 61.8% retracement of the Dec 30 - Jan 19 rally
- SUP 3: 111.59 Low Jan 6
- SUP 4: 110.77 Low Jan 4 and 76.4% of the Dec 30 - Jan 19 rally
BTP futures gapped lower at the Friday open, printing a fresh pullback low at 112.51. This keeps the outlook bearish, and defies views that the recent weakness was corrective in nature. The next downside levels to watch cross at 112.26, the 61.8% retracement of the Dec 30 - Jan 19 rally. A break would be a bearish development. A reversal higher would signal scope for a test of firm resistance at 118.56, the Jan 19 high and 118.96, the Dec 7 high.
LOOK AHEAD: UK Timeline of Key Events (Times GMT)
Feb-22 06:23
| Date | UK | Period | Event |
| 23-Feb | 0930 | ---- | BOE Mann Speech at Resolution Foundation |
| 23-Feb | 1100 | Feb | CBI Distributive Trades |
| 24-Feb | 0001 | Feb | Gfk Monthly Consumer Confidence |
| 24-Feb | 1630 | ---- | BOE Tenreyro Panellist at NY Fed |
| 27-Feb | 0900 | ---- | BOE Broadbent Opens BEAR Research Conference |
| 28-Feb | 1215 | ---- | BOE Pill Closes BEAR Research Conference |
| 28-Feb | 1230 | ---- | BOE Mann Panellist at EIB Forum |
| 01-Mar | 0001 | Feb | BRC Monthly Shop Price Index |
| 01-Mar | 0930 | Feb | Lending to Individuals / S&P Global Manufacturing PMI (Final) |
| 01-Mar | 1000 | ---- | BOE Bailey Speech at Cost of Living Crisis Conference |
| 02-Mar | 1500 | ---- | BOE Pill Speech at Wales Week |
| 03-Mar | 0930 | Feb | S&P Global Services PMI (Final) |
| 06-Mar | 0930 | Feb | S&P Global Construction PMI |
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 |
