Global Macro Overview:
US Stocks trade near highs (Dow Jones hits 18,000 intraday); optimism stems from diminishing concerns about Ukraine (Ukraine/Russia ceasefire this Sunday), Greece, and energy prices. Energy sector up 1% on oil. Europe ends higher as GDP beats; DAX hits all time high. Japan stocks lag on stronger Yen, rest of Asia up. Brent tops $60 for first time in 2015, WTI at 52.23, as EuroZone growth exceeded expectations as well as a drop in US rig count. Gold gains on lower dollar, erasing week of losses. US 10 year yield rises as optimism for Greek debt deal grows. US 10 year at 2%. Euro set for third straight week of gains after GDP beat. EURUSD at 1.1388.
Economic Releases:
German GDP YoY 4Q 1.6% vs 1.2% est 1.2% prev
Italian GDP YoY 4Q -0.3% vs -0.5% est -0.5% prev
EuroZone GDP YoY 4Q 0.9% vs 0.8% est 0.8% prev
Global Markets:
Dow Jones: 17987
SP500: 2090
Nasdaq: 4871
Vix: 15.31
Dax: 10963
Nikkei: 17913
Shanghai: 3204
WTI: 52.40
Brent: 61.05
US 10Y: 2.01%
EURUSD: 1.1391
USDJPY: 118.75
GBPUSD: 1.5392
EURUSD:
The Euro edged higher on Friday, putting it on course for a third straight week of gains. A far stronger than expected reading of Germany’s economic growth in the 4th quarter helped relieve optimism in the single currency zone. The Greek debt crisis has little changed the Euro over the last 3 weeks, it is up 3% over that period.
Global Macro News.com 