Fundamental Review for the Week (February 19-24, 2024)

The past week tossed the currency ship in both directions. Initially towards the American shore - on February 13th, an increase in consumer prices for January was recorded. However, on the 15th, the wind shifted towards "risks" - due to a significant drop in US retail sales for the same January.

This week, the "sea weather" promises to be calmer. Notable highlights include the Federal Reserve minutes on Wednesday and activity indices for the Eurozone and the US on Thursday (with US weekly jobless claims as a bonus). In the absence of strong news background, the market promises to be technical (but does not swear to be accurate).

Based on Powell's January press conference, hawkish Fed protocols are expected. Yes, the minutes are already a statement of facts long in the market, however, what matters now are not their standard formulations, but that their bullish vector has only strengthened, considering January consumer prices. All this sets the foundation for the hawkish March meeting of the regulator.

What's important today? The fact that it's a holiday in America today, so there's no need to expect high volatility. All more or less significant data will come out on Wednesday-Thursday - that's when new battles of financial bulls and bears will unfold.

Wishing you success and balanced investment decisions!