Housekeeping: Good Morning.
Powell’s Plan, Silver Capitulation, China Gold Buying, China Americanizes its markets
Video Contents
Current Prices
Yesterday’s Activity
Data Due
News
Markets/Metals Commentary
Market Gameplan
Attached: UBS (Gold), MSA overview, Goldman on Powell
Yesterday’s Activity:
Powell’s Plan is to not get in the way
Precious Metals- down on strong econ data.. small bounce
Oil-
US equities- start weak, finish strong
Bonds- weak
DX- strong
Crypto- indifferent
Week’s Data:
MONDAY, FEB. 59:45 am S&P final U.S. services PMI Jan. 52.5 -- 52.9TUESDAY, FEB. 6 Fed speakers all day
WEDNESDAY, FEB. 7 More speakers, Consumer credit
THURSDAY, FEB. 8 8:30 am Initial jobless claims
FRIDAY, FEB. 9 8:30 am CPI seasonal factor revisions
Full calendar1
News:
News Links here
NOTABLE HEADLINES
China's securities regulator said it encourages listed firms to buy back more shares to inject more capital into the A-share market and make every effort to maintain stable market operations, while it will guide institutional investors to increase stock investment.
Chinese President Xi is set to discuss China's stock market with regulators.
Chinese sovereign wealth fund CIC's unit Central Huijin said it fully recognises A-shares' allocation value and increased ETF holdings recently, while it will continue to increase holding size, according to Bloomberg.
US President Biden's administration sent five senior Treasury officials to Beijing this week for economic talks including on subsidies and China's "non-market" policies that are ending excess industrial capacity, according to a Treasury official cited by Reuters.
BoJ is on track for a policy shift by April, via Reuters citing sources; assisted by wage outlook. Piece adds that the BoJ is laying the groundwork to end NIRP by April and overhaul other policy framework areas, but likely to go slow on subsequent action
GEOPOLITICS
US Central Command said its forces conducted a strike in self-defence against two Houthi explosive uncrewed surface vehicles, according to Reuters.
Yemen's Houthis says they targets one US and one British ship with naval missiles, via group's spokesperson
Some headlines via NewSquawk
Market Gameplan (Charts):
Gold- MSA levels, oscillators, China buying filled.. will there be more, channel formation….more to say about it after studying the CTA flows
Silver- more shorts will pile in
Oil- B-Band levels
Stocks- no feel..
BTC/ETH-
Bonds - shitty for a reason… buy gold, sell bonds for long term
