Daily Market Bulletin – 7 February 2022

Market Developments

Sentiment seems a bit mixed, as markets digest last week's intense central bank activity and better than expected NFPs.

US Non-Farm-Payrolls blew past estimates on Friday, as the US economy added 467K jobs in January, strengthening the case of those who call for aggressive monetary tightening by the Federal Reserve.

Germany's Industrial Production dropped 0.3% m/m in January, compared to +0.3% prior (revised form -0.2%).

Australia announced today the re-opening of its international borders from February 21, to all fully vaccinated visa holders.

Trade the News: View our Economic Calendar

On the Ukraine front, White House National Security Advisor, Jake Sullivan, warned on Sunday that there is a "very distinct possibility" of Russia attack on Ukraine, speaking on ABC's This Week. He added that this could happen "as soon as tomorrow or it could take some weeks yet". [2]

Main Asia-Pacific stock markets were mostly down, with mainland China making a profitable return from its week-long holiday, whereas European futures appear to be in a good mood.

In the FX space, the US Dollar is tepid following Friday's NFPs boot, while the JPY Basket is soft.

Instruments Snapshot

EUR/USD is on the back foot below 1.1450, following its best week since March 2020.

GBP/USD shows some indecision below 1.3550.

USD/JPY tries to stay in profitable territory, still capped by 115.50

USD/CAD is having a bad day and retreats towards 1.2700.

AUD/USD is on the offensive after Friday's drop, trying to reclaim 0.7100.

NZD/USD is also upbeat, moving towards 0.6650.

GER30 is on the offensive, trying to surpass 15,200.

US30 is mixed above 35,100.

USOIL lack directions, following Friday's multi-year high (93.17)

XAU/USD starts the week on the front foot, but rejects 1,815.

Economic Calendar Picks (GMT)

After an eventful week, the new one start in subdued manner, with no major economic releases expected today.

See the economic calendar here.

Nikos Tzabouras

Senior Market Specialist

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.

With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.

References

2

Retrieved 23 Jun 2022 https://www.youtube.com/watch

Disclosure

Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.

Past Performance: Past Performance is not an indicator of future results.

${getInstrumentData.name} / ${getInstrumentData.ticker} /

Exchange: ${getInstrumentData.exchange}

${getInstrumentData.bid} ${getInstrumentData.divCcy} ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%) ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%)

${getInstrumentData.oneYearLow} 52/wk Range ${getInstrumentData.oneYearHigh}