Sage Investment Club

Chinese New Year celebrations – many centres are closed in Asia. Treasuries sagged to end on a bearish week. USDIndex at 101.30 low as the market continued to price out a 25 bp rate hike on February 1 & BoJ’s latest attempt to keep a lid on yields, along with some profit taking. Wall Street (US100 +2.66%), 10-year Treasury yield is at 3.48%. Options expirations likely helped support the advance. A report of big layoffs at Alphabet added to recession fears and weighed initially, but signs of cost cutting enticed dip buying. Goldman Sachs slipped on reports of a DoJ probe into its consumer unit.

  • The USD Index sagged at 101.32.
  • EUR – is flirting with the 1.09 mark. 
  • JPY – sold off and USDJPY lifted to 130.21, although the USD corrected against most other currencies.
  • GBP – slipped to 1.2400 again after the data this morning. The UK consumer confidence is finally improving. The FT reported that the Deloitte Consumer Tracker rose 0.6 points – the first improvement in five consecutive quarters. 
  • Stocks – The US100 surged a heady 2.66%, with the US500 up 1.89% and the US30 1.0% higher. The Nikkei rallied 1.3%, the Topix added around 1%. The ASX managed a 0.1% gain and European stock futures are higher. GER40 +0.5%, UK100 +0.2%.

  • Citadel breaks records with $16bn profit. Ken Griffin’s hedge fund charged its investors $12bn in fees and expenses in 2022.
  • USOil – tops at $81.40, as USD supports crude prices.
  • Gold – retested $1,937 highs but turned to $1,920 lows since then.
  • BTC – spikes to 22,800 area (September’s peak) – Risky trades?

Today ECB’s Lagarde and Panetta speech. A quarter of the S&P 500 report this week starting with Microsoft on Tuesday.

Biggest FX Mover @ (07:30 GMT) EURJPY (+0.87%). Rallied to 141.90. MAs aligned higher, MACD histogram & signal line positive & rising. RSI 77.85, OB & rising, H1 ATR 0.278, Daily ATR 1.834.


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Andria Pichidi

Market Analyst

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Having completed her five-year-long studies in the UK, Andria Pichidi has been awarded a BSc in Mathematics and Physics from the University of Bath and a MSc degree in Mathematics, while she holds a postgraduate diploma (PGdip) in Actuarial Science from the University of Leicester.

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