- Japanese industrial production revised down from 1.1% to 0.9%
- Merkel voted against new set of funds for Greece
- Eurogroup meetings going on
- U.S. banks closed for President’s Day
Risk rallies took a quick break in today’s Asian trading session, as data released over the weekend and over the past few hours came in mostly weaker than expected. After printing a lower than expected Q4 2013 GDP reading of 0.3%, Japan followed it up with a downgraded industrial production figure from 1.1% to 0.9%. Despite that, Asian equities managed to chalk up small gains for the day, with the Nikkei closing 0.56% higher.
Data is light in this London session, but bear in mind that Eurogroup meetings are currently going on. Fresh off the press is a report saying that Merkel voted against doling out a new set of funds for Greece. This was a proposal made by German Finance Minister Schaeuble, as he suggested further support from the euro zone to show more solidarity in the region.
No other reports are lined up in the next few hours so y’all better keep close tabs on market sentiment, as lower liquidity is expected with U.S. traders off on a holiday.
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!