Trading plan for 22/02/2018:
During the night, the negative sentiment for the stock market was crystallized during the bust of Wall Street from the last few tens of minutes of trading. Futures on the SP500 are below 2700 points, the EUR/USD subsided at 1.23 and USD/JPY is below 107.50. Profitability of 10-year US Treasury bonds is growing towards long-term highs at 2.95%. Oil is also under considerable pressure as the barrel price in New York falls towards USD 61. An ounce of gold is valued at 1324 USD – the negative effect of the stronger dollar and cheaper bonds over the positive effect of discounts on stock exchanges.
On Thursday 22th February, the main event of the day is ECB Monetary Policy Meeting Accounts release, but the market participants should keep an eye on German Ifo sentiment data release, Second Estimate GDP data from the UK, Retail Sales data from Canada and Unemployment Claims data from the US. Moreover, there are three speeches of the FOMC representatives: William Dudley, Raphael W. Bostic, and Robert Kaplan
Bitcoin analysis for 22/02/2018:
On Tuesday, February 20, the Financial Times reported that the Venezuelan government began pre-selling the world’s first Petro-based Petr Criminal Investigation (PTR) based on oil. 82.4 million Petro is already on sale, both for cash and cryptocurrency, although it remains unavailable for Venezuelan Bolivar.