Central Bank Speaks at Davos as Summers Stays in the Headline | Morning Express | 1/20/2023

Posted: Jan. 20, 2023, 9:10 a.m.

Central bank speak from Davos remains at the forefront. ECB President Lagarde and BoJ Governor Kuroda highlighted the early morning. See the Yen chart below.
- Lagarde reiterated comments to ‘stay on course’ with interest rate hikes, noted China’s reopening could stoke inflation, and said, “I hope fiscal policy doesn’t force the ECB to do more.”
- Kuroda’s comments were dovish. He said, “the BoJ will continue the current extremely accommodative monetary policy to achieve its 2% inflation target,” adding that 4% CPI was caused by import price hikes and sees inflation coming down in 2023.
Former U.S. Treasury Secretary Summers, who loves to stay in the headlines, warned that “going soft on inflation will plunge economies back into the recessionary depths of the 1970s and have an adverse effect on working people everywhere.” Bloomberg
During U.S. hours, we look to comments from Philadelphia Fed President Harker, a 2023 voter, at 8:00 am CT and Fed Governor Waller at noon CT. Harker is known to be on the dovish side, whereas Waller is thought to be the most hawkish 2023 voter.
NFLX is +7% after beating subscriber growth estimates, though missing EPS, and topping Revenues after the bell yesterday.
Alphabet (GOOG) is up more than 3% ahead of the bell after saying it will cut 12,000 jobs or about 6% of its workforce.
SLB, STT, and ALLY all beat top and bottom line estimates this morning.
U.S. 10-year yield has regained 3.4%, and Bond futures (prices) have slipped from a potential breakout, see chart below.

E-mini S&P (March) / NQ (March)

S&P, yesterday’s close: Settled at 3915.50, down 30.25

NQ, yesterday’s close: Settled at 11,356.50, down 119.25

Technicals Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.

Levels Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.

NQ (March)

Levels Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.

Crude Oil (March)

Yesterday’s close: Settled at 80.61, up 0.81

Technicals Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.

Levels Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.

Gold (February) / Silver (March)

Gold, yesterday’s close: Settled at 1923.9, up 16.9

Silver, yesterday’s close: Settled at 23.87, up 0.223

Levels Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.

Silver (March)

Levels Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.

First Two Weeks Free!
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Sign up for a Free Trial
Start Trading with Blue Line Futures

Don't have an account with Blue Line Futures?

🇺🇸
Open an Account from the
U.S.

🇬🇧 / 🇪🇺
Open an Account from the
U.K. and Europe

🇨🇦
Open an Account from
Canada

🌏
Open an Account from
Anywhere not mentioned

If you have any questions about markets, trading, or opening an account please let us know! You can email us at info@BlueLineFutures.com or call 312-278-0500.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

Crude Oil Gold Stocks Silver Nasdaq

Like this post? Share it below:

Facebook

Twitter

Back to Insights

First Two Weeks Free!
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Free Trial

Central Bank Speaks at Davos as Summers Stays in the Headline | Morning Express | 1/20/2023

Posted: Jan. 20, 2023, 9:10 a.m.

Don't have an account with Blue Line Futures?

Tags