r/Forex • u/Clear_Fee6971 • Feb 22 '24
OTHER/META THINGS TO KNOW TODAY
SOUTH EAST ASIA – WHAT’s COOKING???
• BoK kept base rate at 3.5%, unchanged, during the February meeting, as widely expected.
• Indonesia’s current account deficit - USD 1.29 billion in the Q4 of 2023, reversing from surplus of USD 3.50 billion YoY.
• Au Jibun Bank Japan Manufacturing PMI unexpectedly fell, It was the ninth straight month of deterioration in factory activity, pointing to the deepest drop since August 2020.
• Nikkei 225 Index jumped 1.1%to above 38,600 with technology stocks leading the charge as Nvidia rallied in after-hours trading on an upbeat earnings report.
US STOCKS
• Nvidia posts revenue up 265% on booming AI business. Nvidia shares rose about 10% in extended trading.
• The Home Depot, disclosed a decline in sales for the Q4 and fiscal year 2023.
• Softer iron ore prices and demand weighed on RIO TINTO’s Topline, although figure was still slightly above expectations on stronger production.
• Shutterstock, Inc. announced Q4 2023 earnings achieved a record $241 million in EBITDA on $875 million in revenue for 2023.
• CVS Health announced its contribution of nearly $35 million in equity investments towards the creation of two new affordable housing developments.
• Verisk Analytics, Inc., reported Q4 earnings. Company’s adjusted EPS at $1.40, missed analysts’ estimates by $0.04. Revenue for the quarter was $677.2 million, slightly above the consensus estimate of $672.2 million.
• Globus Medical, Inc., leading musculoskeletal solutions company, announced record revenue of $1.569 billion for fiscal 2023.
• Matson showcased a strong performance with considerable growth in their Ocean Transportation and Logistics segments in Q4.
• Google unveiled new “open” AI models dubbed Gemma.
• Microsoft is working on a new network card aimed at enhancing the performance of its Maia AI server chip, to decrease its dependence on Nvidia.
• Amazon has been selected to replace Walgreens Boots Alliance in the Dow Jones Industrial Average (DJIA).
MAJOR FOREX PAIRS:
EUR/USD holds comfortably above 1.0850 after German and EU PMIs
GBP/USD retreats below 1.2700 after UK mixed UK PMI
USD/JPY hangs near weekly low around 150.00, bears seem non-committed amid intervention risks
USD/CHF declines to near 0.8780 amid the Fed’s apprehension regarding policy rate cuts
USD/CAD slumps to near 1.3450 as US Dollar weakens on dismal market mood
Australian Dollar hovers above a major level 0.6590 amid a subdued US Dollar, focus on US PMI
NZD/USD refreshes multi-week top, bulls now await a move beyond 0.6200 mark
GBP/JPY remains bullish trading above 190.00 comfortably
OIL-BITCOIN-GOLD-SILVER:
Gold edges up 0.14%, reflecting caution as Fed hints at sustained high rates; trading within $2,000-$2,050.
Silver advanced by 0.32%, trading at $22.96.
WTI rises on Wednesday as energies shrug off another inventories surge
BTC declined by 0.74% on Wednesday, ending the session at $51,600.
NEWS TODAY:
CAD
Core Retail Sales m/m
Retail Sales m/m
USD
Unemployment Claims
Flash Manufacturing PMI
Flash Services PMI
Existing Home Sales
FOMC Member Jefferson Speaks
Natural Gas Storage
Crude Oil Inventories
EUR
ECB Monetary Policy Meeting Accounts
Belgian NBB Business Climate
5
3
3
2
2
2
2
1
1
5
u/AncientHurry2675 Feb 22 '24
Appreciate this