Euro falls below the psychological 1.10 level, QE to start on Monday
It’s been a week, where (thankfully?) things got back to a more normal situation with markets less influenced by crises and fear and got back to the numbers.
Not to say there wasn’t drama, at the moment of writing the euro is at 1.087 and more and more predictions of parity are coming about. QE and better than expected U.S. job numbers increased dollar strength. The ECB’s president has even boldly announced the end of the crisis in the eurozone.
Don’t forget that USA and Canada will be moving to DST time and their markets will have different trading hours as follows:
• US shares will be traded from 1.30 pm to 8.00 pm GMT
• US indexes will be traded from 10.30 pm to 8.00 pm GMT
• Futures (Oil & Gas) will be traded from 10.00 pm to 9.15 pm GMT
*The difference in the working hours will be valid until 29th March (Sunday).
We’ve also changed the opening time for the 8th of March (Sunday) and markets will open at 10:01 pm GMT.
Monday 09.03.15 – Clocks in Canada and the U.S. are moved one hour back as they enter DST. The GDP number for Japan is slated for 11:50pm GMT and it might move the JPY and NIKKEI, coupled with some effect from today’s Non-Farm number, as the Asian markets absorb the news with a delay. Besides that it should be a pretty quiet day, except for the Eurogroup meeting which might possibly, but not necessarily, provide something new on the Greece issue.
Tuesday 10.03.15 – Should be an Asia-focused day with business confidence numbers for Australia due at 12:30am GMT, as well as the CPI for China an hour later. The ECOFIN meeting is the only other thing that could again change things around with the European Finance ministers convening for a regular meeting, but Greece will be the first thing reporters will ask about.
Wednesday 11.03.15 – Industrial production from China will start things off at 5:30am GMT, followed by manufacturing production from Britain at 9:30am GMT.
In a bit of a weird hour (8pm GMT) New Zealand will release several key indicators of their economy, followed immediately by a press conference, that will definitely provide some sharper lines on the NZD/USD chart.
Thursday 12.03.15 – AUD will get the attention at 12:30am GMT with employment change and the unemployment rate for the country. Exactly 12 hours later the U.S. will share three bits of data – core retail and retail sales, month over month.
Friday 13.03.15 – Similar to last week, CAD and USD will have data announcements at the same time, 12:30am GMT, with the employment change and unemployment rate from Canada coming in the same package as the monthly PPI from The States.
Preliminary UoM Consumer Sentiment from the U.S. will be the only other thing that is expected to have some impact on markets. It’s scheduled for 2:00pm GMT.
This week’s reading picks include the most important developments from the Mobile Congress in Barcelona, thoughts on Europe’s QE start next Monday and privacy among others:
We’re not impressed with the new smartphone models unveiled, but Samsung Pay and the prospects for 5G are interesting. (USA Today for a summary and Forbes for a bit more on the Korean giant’s latest push)
An educated opinion on the effects of QE caught our eye, but you can also check out the comments section, as it has the opposing view with some good arguments. (Financial Times)
Innovation plays a big part in the success of companies and their ability to foster it can be seen as a predictor of a stock’s success. If you see what’s outlined in this article (or if you don’t) when researching them could prove useful. (Harvard Business Review)
With all the innovation and technical progress happening around us, it’s also important to remember that there is always a trade-off. When it comes to privacy it can be a big one, as the latest round of leaks from Edward Snowden show (International Business News), but is the notion of privacy changing altogether? (different views on the subject collected in Huffington Post)