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Old 22-02-2021, 18:14
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Default Re: - Market Analysis and News.

Date : 22nd February 2021.

Markets Update February 22 Its all about the Yields.

Market News Today

Equities heavy as Yields, Copper and VIX soar. USD recovers from lows; safe haven JPY & CHF suffer. US10yr yields touched 1.38% (now 1.345%), Equities closed down on Friday and for the week, FUTS now into 5th day lower. Reflation trade & progress in vaccination worldwide, especially in developed economies, helps commodity currencies & boosts sentiment for riskier assets. Commodities lifted (especially Copper) except Gold ($1790) which appears to be losing its inflation hedge status to BTC, (new ATHs over $57K). VIX FUTS up 4.4% to 25.80.

This week RBNZ rate decision, Progress on stimulus 1.9tn stimulus package, US GDP, Durable Goods, Consumer Confidence, PCE & Powell testimony. Earnings season continues (392 of S&P500 reported 80% have beat estimates)

Today German IFO, ECBs Lagarde, Feds Bowman. UK PM Johnson to outline lockdown exit plans for England. Earnings from Marathon Oil & Occidental Petroleum.

Biggest (FX) Mover @ (07:30 GMT) USDCHF (+0.34%) Rallied from 200MA on Friday (0.8940) Over 20 Ma Friday over R1 and R2 today moving to test 0.9000 Faster MAs aligned and trending higher, RSI 72 OB but still rising, MACD histogram & signal line aligned higher and broke over 0 line on open today. Stochs. very OB and touching 100. H1 ATR 0.0009 Daily ATR 0.0080.

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Please note that times displayed based on local time zone and are from time of writing this report.

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Stuart Cowell
Head Market Analyst

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