Economic data coming up in the European session

German Ifo business survey on the agenda today

Good day, everyone! Hope you all had a great weekend and that you’re ready to get back on the trading seat for the new week.


It is still all about the reflation theme in the market as bond yields continue to surge higher with 10-year Treasury yields closing in on 1.40%. Real yields have also ticked higher to -0.80% and that will be something to watch in case the Fed picks up on it.

The dollar is keeping more mixed but holding a touch weaker against most major currencies, though gaining against the yen and franc to start the day.

US futures are slightly softer while Asian equities are looking more mixed in trading so far. Elsewhere, commodities are keeping slightly firmer as they follow the bond market while Bitcoin is down after Elon Musk said that prices “do seem high”.
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There won’t be much on the agenda in Europe to really shake things up as the market will take clues from Treasuries and Wall Street again later today to kick start the week.

0900 GMT – SNB total sight deposits w.e. 22 February

Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.

0900 GMT – Germany February Ifo business climate index

Prior release can be found here. Little change is anticipated to the Ifo survey this time around though expectations are expected to hold up in light of vaccine optimism and more hopeful prospects on economic conditions going into late Q2/Q3.

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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