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International Financial Information

International Financial Information

[Clarida, Fed Vice Chairman: Both the US economy and Fed policy are in a good position, and the job market is also relatively strong] It is too early to speculate on any major changes in the U.S. economic outlook, as long as the future information is consistent with the Fed's economic outlook, the current Monetary policy is also suitable. The Fed is concerned with a wide range of financial data, not just the stock market, and countercyclical capital buffers are still one of the tools of the Fed. The Federal Reserve attaches great importance to the symmetry of the 2% inflation target, and inflation reaching 2% or slightly higher than 2% will not lead to a rate hike.

[API report: U.S. crude oil inventories increased 1.3 million barrels to 444.4 million barrels last week] As of February 21, the United States, API gasoline inventories increased by 74,000 tons and refined oil inventories decreased by 706,000 tons; U.S. crude oil imports decreased by 28 Million barrels / day.

[U.S. National Economic Advisor Kudlow: The market should not be “overreacted” to the epidemic, and does not think that the Fed will make any panic moves. Whether in public or private, it has not heard any news about the Fed ’s rate cut]

[EU says Britain must agree to fair competition and fisheries requirements or trade agreement cannot be reached] EU's chief Brexit negotiator, Barnier, issues ultimatum to British Prime Minister Boris Johnson, warning that unless Britain agrees to EU's fair competition and fishing Demand, otherwise the two parties will not reach any trade agreement. "The trade agreement will be linked to a fishery agreement and a level playing field, otherwise no agreement will be reached at all," Barnier told reporters in Brussels on Tuesday. "If we want to achieve the goals in the short term that Mr. Johnson has demanded, we can't go back and forth." In response to Barnier, an official in the Johnson's office described the idea of fair competition as "ideas" and in other parts of the EU. Does not exist in the trade agreement.


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Summary of Institutional Perspectives


Citi suggests short EUR / USD due to outbreak risk and GDP could be affected


Citigroup strategists said that in the context of "weak economic growth", the euro against the US dollar is one of the most vulnerable currency pairs, and the spread of the epidemic to Italy should raise concerns about the outlook for European GDP. In a report on Tuesday, Citi advised shorting the euro against the dollar at 1.0850 with a target of 1.0500; a stop loss of 1.1010. Strategists said the convenient travel policy in the Schengen area lowered the threshold for virus transmission. European economic data is weaker than the US. Due to poor fundamentals and short-term interest rates substantially below zero, we believe that the euro will increasingly be used as a financing currency in arbitrage transactions.

ANZ: EUR / USD could hit 2016 lows in coming months


ANZ said the euro could fall to a three-year low against the dollar in the next few months as the industry adopts climate change targets, slowing global trade and challenges from the epidemic.


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