Forex-novosti i prognoze od 01-02-2021

FXStreet reports that economists at Capital Economics take stock of the key elections that are scheduled around the world in the coming year and discuss the implications for economic policy. While elections in advanced economies are unlikely to produce any decisive changes in direction, there are a few to keep an eye on in the emerging world. 

“Angela Merkel’s looming departure as German chancellor will be of historical significance but is unlikely to have major consequences for economic policy in Germany or for the EU. With Merkel’s centre-right CDU/CSU comfortably ahead in the polls, the party is on course to remain the largest in the Bundestag.”

“In Japan, with the opposition parties still weak and none currently polling above 10%, the ruling LDP is set to win another majority in the general election which must take place by October. Regardless of whether Suga hangs on to the office of Prime Minister, his party is likely to stay the course of ‘Abenomics’. We expect monetary policy to remain ultra-loose, modest fiscal tightening once virus conditions allow, and moderate progress on structural reforms.”

“There is one curveball in DMs, and that’s Italy. We assume that a new coalition is formed without the need for an election and that, in the meantime, the ECB will keep Italian bond yields within a narrow band. However, if there is another election, polls suggest that it would produce a right-wing, eurosceptic coalition. Such a government would probably push for tax cuts and be more willing to clash with the EU over fiscal policy. But with the EU’s fiscal rules suspended, this risk would be unlikely to materialise for a few more years until after the worst of the pandemic had passed.”

“In Latin American countries, anti-austerity sentiment has been growing, exacerbated by the economic fallout from the pandemic. As a result, we expect populists pushing loose fiscal policy to make headway. And in India, a strong performance for Modi’s BJP in state elections may be enough to convince PM Modi that labour market liberalisation is not unviable and could lead to a ramping up of labour reforms.”

The Commerce Department announced on Monday that construction spending rose 1.0 percent m-o-m in December after a revised 1.1 percent m-o-m gain in November (originally a 0.9 percent m-o-m advance).

Economists had forecast construction spending increasing 0.9 percent m-o-m in December.

According to the report, spending on private construction jumped 1.2 percent m-o-m, while investment in public construction rose 0.5 percent m-o-m. 

A report from the Institute for Supply Management (ISM) showed on Monday the U.S. manufacturing sector’s activity expanded in January 2021 albeit at a slower pace than in December 2020.

The ISM's index of manufacturing activity came in at 58.7 percent last month, down 1.8 percentage points from the revised December reading of 60.5 percent (originally 60.7). The January reading pointed to the eighth straight month of expansion in factory activity.

Economists' had forecast the indicator to decline to 60.0 percent.

A reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.

According to the report, the New Orders Index stood at 61.1 percent, down 6.4 percentage points from the December reading, while the Production Index came in at 60.7 percent, a drop of 4.0 percentage points compared to the December reading. Meanwhile, the Prices Index posted 82.1 percent, up 4.5 percentage points compared to the December reading, the Employment Index was at 52.6 percent, 0.9 percentage point higher from the seasonally adjusted December reading, the Backlog of Orders Index registered 59.7 percent, 0.6 percentage point above the December reading and the Supplier Deliveries Index recorded 68.2 percent, up 0.5 percentage point from the December figure.

Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee, noted that the manufacturing economy continued its recovery in January. “Survey committee members reported that their companies and suppliers continue to operate in reconfigured factories, but absenteeism, short-term shutdowns to sanitize facilities and difficulties in returning and hiring workers are continuing to cause strains that limit manufacturing growth potential,” he added. “However, panel sentiment remains optimistic (three positive comments for every cautious comment), similar to December levels”. He also said that the past relationship between the PMI and the overall economy indicated that the PMI for January (58.7 percent) corresponded to a 4.4-percent expansion in real gross domestic product (GDP) on an annualized basis.

The latest report by IHS Markit revealed on Monday the seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index(PMI) rose to 59.2 in January 2021, up from 57.1 in December 2020 and marginally up from the earlier released “flash” reading of 59.1. The January reading pointed to the sharpest expansion in factory activity since data collection began in May 2007.

Economists had forecast the index to stay unrevised at 59.1.

According to the report, the headline figure was pushed up to a record high by accelerated expansions in output and new orders. Meanwhile, cost pressures intensified amid raw material shortages, with selling prices rising at the fastest pace since July 2008.

The proposal includes: 

• $160 bln for COVID-19 response (incl. vaccine distribution);
• $50 bln for small businesses
• $20 bln to help open the schools that are still closed;
• $220 bln for direct payments for people ($1,000/person)
• $132 bln for UI ($300/week through June 30 for all states)

U.S. stock-index futures rose on Monday, following a drastic sell-off on Wall Street last week, as the shares of silver miners benefited from a spike in silver prices, caused by the Reddit traders.

Global Stocks:

(company / ticker / price / change ($/%) / volume)

FXStreet тщеуы that еhe S&P 500 Index has seen a further sharp fall following the daily and weekly DeMark sequential exhaustion signals and a bearish “reversal week” has now also been established to further increase bearish pressure. The Credit Suisse analyst team looks for a retest of the rising 63-day average and low for the year at 3666/63. 

“The technical outlook for the S&P 500 continues to deteriorate as not only do we have daily and weekly DeMark sequential exhaustion signals in place along with a divergent daily and weekly bearish RSI momentum setup but also now and potentially more significantly a bearish “reversal week” has been established on high volume. This raises the risk we may be set for a more significant and deeper correction lower than originally looked for.”

“We maintain our tactical bearish bias and look for a test of the 63-day average and low for the year at 3666/63. Whilst we would look for an attempt to hold here, a direct break can see bearish pressure increase further for a test of the 38.2% retracement of the October/January rally and December lows at 3636/28. Whilst we would expect a better defence of support here, a break would confirm we are indeed set for a more protracted fall with support seen next at 3488 and then the 200-day average at 3350, which if seen would represent a 13.5% fall from the peak.” 

Tesla (TSLA) target raised to $1200 from $515 at Piper Sandler

Intel (INTC) downgraded to Under Perform from Market Perform at Northland Capital; target lowered to $46

Tesla (TSLA) upgraded to Buy from Hold at First Shanghai

FXStreet reports that analysts at Credit Suisse note that the AUD/USD pair maintains a small top, suggesting that further near-term weakness is likely, with the next important support seen at the 55-day average at 0.7573. 

“Whilst beneath 0.7687/7704, we maintain our mild bias for further near-term weakness, reinforced by the bearish ‘reversal day’ and small top that is still in place (as well as daily MACD momentum still pointing lower).” 

“We see support initially at the January low at 0.7606/7584. Beyond here would see a fall back to the 55-day average at 0.7573, where we would expect to see a more concerted effort to hold and ideally the core uptrend resume. Failure to hold here would open up 0.7462, just below the ‘measured top objective’ at 0.7503.” 

• But infections are still at a high level
• There is still a risk of the virus getting out of control again
• We are confident that all vaccines provide high protection against all variants
• Economy can bounce back strongly
• We are confident that there is enough supply for second vaccine shot within 12 weeks

GBP rose against its major rivals in the European session on Monday as a relatively speedy rollout of coronavirus vaccines in the UK bolsters investors' sentiment. 

Official data on Sunday revealed that almost 9 million people in Britain had received their first dose of a Covid-19 vaccine. International Trade Secretary Liz Truss said yesterday that the government was “absolutely confident” it could continue to deliver its vaccination program, even as a dispute over vaccine exports from the EU raised concerns over the provision of supplies of the Pfizer and BioNTech's shot, which is produced in Belgium. The UK intends to offer vaccines to 15 million people by mid-February. 

According to the Financial Times' (FT) Covid-19 vaccine tracker, the UK is among the countries with the highest vaccination rates globally. Israel has a rate of 52.3 vaccination doses per 100 residents, followed by UAE at 34.1 and the UK at 14.2. Overall, at least 96 559 130 doses of coronavirus vaccines have been administered around the world, data from 69 countries show.

The latest report from IHS Markit showed that the UK’s manufacturing sector activity grew more than initially estimated in January. The IHS Markit/CIPS UK Manufacturing PMI was revised sharply higher to 54.1 in January 2021 from a preliminary of 52.9, but below 57.5 in December. A reading above 50 indicates expansion, while a reading below 50 indicates contraction. Economists' had forecast the indicator to remain unrevised at 52.9.

Investors' attention is gradually shifting towards the Bank of England’s (BoE) meeting later this week. The UK's central bank is set to publish its monetary policy statement on Thursday and markets expect it will provide findings of the consultations with banks on what negative rates would mean for lenders’ operations. Most economists do not believe the BoE is likely to cut rates below zero in 2021.

FXStreet notes that a stronger USD over the past week has been helping to dampen further upside for cable beyond the 1.3700-level. The Bank of England (BoE) policy update will be important in determining if recent bullish trend for GBP extends further in the near-term. A more likely scenario in the view of economists at MUFG Bank. 

“Market participants have scaled back rate cut expectations ahead of the meeting which has helped to lift the GBP. The argument in favour of another imminent easing of monetary policy has been dampened by the last minute Brexit trade deal, resilience of the UK economy at the end of last year and relatively fast roll out of vaccines in the UK. However, the tougher third lockdown is expected to deliver a larger negative hit to growth at the start of this year. It could still encourage the BoE to provide more stimulus to act as insurance against downside risks even if they are more confident of a stronger recovery beyond.” 

“The most bullish potential outcome for the GBP would be if the BoE leaves the key policy rate unchanged, and the consultation with lenders further dampens speculation over negative rates in the near-term. It could open the door to further GBP gains lifting cable closer to 1.4000 and EUR/GBP towards the mid-0.8000’s. 

“There are clear downside risks as well for the GBP. A rate cut to 0.00% or even into negative territory can’t be completely ruled out although appears less likely now.”

FXStreet notes that the Bank of Canada (BoC) left its key indicators of monetary policy unchanged on 20 January 2021. With extraordinary support to remain in place, for now, it seemed more confident in medium-term recovery. Economists at HSBC believe the CAD will strengthen against the USD this year, but it is expected to underperform other “risk-on” currencies, such as the AUD and NZD.

“The BoC said that the Canadian economic outlook was then ‘stronger and more secure’ than at the time of the last forecast in October 2020. The BoC also projected GDP growth of 4.0% in 2021 (vs. 4.2% in October), and 4.8% in 2022, up from 3.7%.”

“We believe that the CAD can capitalise on the market’s expectation for a global economic upswing, fostered by accommodative policy settings and disbursement of a COVID-19 vaccine. This is already feeding into a more buoyant oil market and while the gain in prices may not be enough to spur a sudden acceleration in energy sector business investment in Canada, higher oil prices should remain supportive for the loonie.”

“We look for modest CAD gains against a weaker USD in 2021. However, we expect the CAD to underperform other “risk-on” currencies such as the AUD and NZD, reflecting the country’s economic scaring, high debt levels, and associated constraints on the policy room for manoeuvre.”

February 2

Before the Open:

Alibaba (BABA). Consensus EPS RMB20.94, Consensus Revenues RMB214392.81 mln

Exxon Mobil (XOM). Consensus EPS $0.02, Consensus Revenues $48756.27 mln

Pfizer (PFE). Consensus EPS $0.46, Consensus Revenues $11322.44 mln

UPS (UPS). Consensus EPS $2.14, Consensus Revenues $22854.96 mln

After the Close:

Alphabet (GOOG). Consensus EPS $15.99, Consensus Revenues $52856.63 mln

Amazon (AMZN). Consensus EPS $7.00, Consensus Revenues $119654.28 mln

Amgen (MGN). Consensus EPS $3.35, Consensus Revenues $6579.79 mln

February 3

After the Close:

eBay (EBAY). Consensus EPS $0.83, Consensus Revenues $2713.74 mln

PayPal (PYPL). Consensus EPS $1.00, Consensus Revenues $6092.07 mln

Qualcomm (QCOM). Consensus EPS $2.09, Consensus Revenues $8245.15 mln

February 4

Before the Open:

Int'l Paper (IP). Consensus EPS $0.81, Consensus Revenues $5303.17 mln

Merck (MRK). Consensus EPS $1.39, Consensus Revenues $12646.47 mln

After the Close:

Ford Motor (F). Consensus EPS -$0.09, Consensus Revenues $33963.09 mln

Peloton (PTON). Consensus EPS $0.12, Consensus Revenues $1028.13 mln

Snap (SNAP). Consensus EPS $0.07, Consensus Revenues $854.60 mln

T-Mobile US (TMUS). Consensus EPS $0.54, Consensus Revenues $19875.94 mln

FXStreet reports that FX Strategists at UOB Group suggest that USD/CNH could slip back to the 6.4400 level and below in the next weeks.

24-hour view: “Our expectation for USD to ‘trade within a 6.4600/6.4950 range’ was wrong it plummeted to 6.4397 before closing on a weak note at 6.4564 (-0.30%). The rapid drop is oversold and while there is room for USD to test 6.4350, a sustained decline below this level is unlikely. Resistance is at 6.4650 followed 6.4770.”

Next 1-3 weeks: “USD subsequently dropped to a low of 6.4397. Downward momentum is beginning to improve but USD has to close below 6.4400 before a move towards 6.4130 can be expected. At this stage, the prospect for such a move is not high but it would remain intact as long as it does not move above 6.4900.”

• PM Suga is set to make a final decision on extension after hearing from expert panel on Tuesday
• Tokyo and neighboring Kanagawa, Chiba and Saitama prefectures will remain under state of emergency, as will Aichi, Gifu, Osaka, Kyoto, Hyogo and Fukuoka.
• Tochigi is to be removed because its coronavirus situation has significantly improved

FXStreet reports that analysts at Credit Suisse discuss USDJPY prospects.

“USD/JPY maintains a bullish ‘falling wedge’ reversal following its break above its downtrend from last March and then key recent high at 104.40 and we continue to look for a more sustained move higher.” 

“Resistance moves to 104.84/94 initially ahead of 105.13/17 and then the 200-day average and November high at 105.65/75, which is expected to prove a tough initial barrier. Should strength directly extend though, we see resistance next at 106.07/11 – the 38.2% retracement of the entire fall from last March.” 

FXStreet reports that senior Economist at UOB Group Alvin Liew reviews the latest US GDP data published last week.

“The 4Q 2020 GDP increased by 4.0% q/q SAAR (slightly missing Bloomberg Est 4.2%, but much better than UOB Est 0.0%), markedly slower from the record 33.4% surge in 3Q 2020. But if we exclude the record 3Q jump, the 4% growth in 4Q will be the highest growth since 3Q 2014. For 2020 as a whole, the economy contracted by 3.5%, slightly better than market (and our) expectations but it was still the worst contraction since 1946.”

“The recovery trajectory remains highly uncertain but premised on the successful rollout of vaccinations across the US, and more fiscal stimulus in the coming months, we now project, after a temporary 1Q contraction of 2%, US GDP will rebound meaningfully in the subsequent three quarters. The US full-year 2021 GDP is now expected to expand by 4.5% (from the previous projection of 2.8% made in Dec 2020). This is slightly less optimistic compared to the IMF’s latest revised 5.1% US GDP growth (made in its Jan 2021 WEO update).”

According to the report from Eurostat, in December 2020, the euro area seasonally-adjusted unemployment rate was 8.3%, stable compared with November 2020 and up from 7.4% in December 2019. The EU unemployment rate was 7.5% in December 2020, also stable compared with November 2020 and up from 6.5% in December 2019. 

Eurostat estimates that 16.000 million men and women in the EU, of whom 13.671 million in the euro area, were unemployed in December 2020. Compared with November 2020, the number of persons unemployed increased by 67 000 in the EU and by 55 000 in the euro area. Compared with December 2019, unemployment rose by 1.951 million in the EU and by 1.516 million in the euro area.

In December 2020, 3.138 million young persons (under 25) were unemployed in the EU, of whom 2.590 million were in the euro area. In December 2020, the youth unemployment rate was 17.8% in the EU and 18.5% in the euro area, up from 17.5% and 18.1% respectively in the previous month. Compared with November 2020, youth unemployment increased by 41 000 in the EU and by 36 000 in the euro area. Compared with December 2019, youth unemployment increased by 438 000 in the EU and by 353 000 in the euro area.

In December 2020, the unemployment rate for women was 7.9% in the EU, stable compared with November 2020. The unemployment rate for men was 7.1% in December 2020, also stable compared with November 2020. In the euro area, the unemployment rate for women remained stable at 8.8% in December 2020 while it increased from 7.8% to 7.9% for men.

According to the report from IHS Markit/CIPS, the upturn in the UK manufacturing sector slowed sharply at the start of 2021. Output growth eased and new orders fell slightly as producers faced weaker inflows of new export work and temporary supply-chain disruptions caused by COVID-19 restrictions and transport delays (especially at ports) following the end of the Brexit transition period.

The seasonally adjusted Purchasing Managers’ Index fell to a three month low of 54.1 in January, down from December's three-year high of 57.5. Declining new order intakes and a steep reduction in input stocks both weighed on the PMI level.

The main positive influence on the PMI was a marked lengthening of supplier lead times, which (apart from April 2020) was the greatest registered in the near 30-year survey history. Although this is usually a signal of stronger demand resulting from economic growth, the recent trend in vendor performance has mainly reflected supply-chain disruptions caused by COVID-19 restrictions and the end of the Brexit transition period.

Manufacturing output increased for the eighth successive month in January. However, the rate of expansion slowed to its joint-weakest during that sequence, as total new order intakes fell slightly due to lower intakes of new export business. Companies reported that the national lockdown, end of the Brexit transition period, client closures and renewed uncertainty at the start of the year all contributed to the decrease in new orders. There were also reports of EU-based clients having already brought forward purchasing to avoid expected disruption. Sector data indicated that consumer goods was the weakest performing sub-industry in January, seeing steep drops in both output and new orders. In contrast, the intermediate and investment categories saw continued expansions. Small manufacturers meanwhile saw output and new orders fall, in contrast to upturns at medium- and large-scale producers. Manufacturing employment rose for the first time in a year during January, in part reflecting efforts to combat rising levels of work-in-hand at several companies. However, the rate of job creation was only marginal.

According to the report from IHS Markit, growth of the Eurozone manufacturing economy remained resilient at the start of 2021, with the sector expanding for a seventh successive month and again at a marked pace. 

After accounting for seasonal factors, the PMI recorded 54.8, down slightly on December’s 55.2 and little-changed on the earlier flash reading. January’s figure was amongst the highest seen over the past two-and-a-half years. Growth was recorded across all three broad market groups during the latest survey period. However, the improvement in operating conditions seen at consumer goods producers was marginal amid a drop in new orders. In contrast, marked rates of expansion continued to be recorded in both the intermediate and investment goods sectors at the start of 2021.

Overall, eurozone manufacturing production increased for a seventh successive month, although the rate of expansion was the weakest in the current sequence. Similar developments were seen for new orders. Whilst the current growth sequence was also extended to seven months, the rate of expansion was down since December. That was despite export trade registering its best growth performance in the past three months. With overall new order book volumes increasing markedly, manufacturing companies faced further pressure on their capacity as evidenced by another month of backlog growth. January marked the sixth successive month that work outstanding has risen, although growth was the weakest since last September.

Finally, looking ahead to the next 12 months, confidence improved to a three-year high in January largely on hopes that vaccine developments in the coming months will help to ease current pandemic restrictions and lead to a noticeable uplift in economic activity.

FXStreet reports that FX Strategists at UOB Group said that the constructive view in USD/JPY remains well and sound in the short-term horizon.

Next 1-3 weeks: “Last Thursday, we highlighted that ‘risk for USD has shifted to the upside’ and we were of the view that ‘the solid resistance at 104.75 may not yield so easily’. However, USD popped to a high of 104.94 on Friday before easing off to close on a firm note at 104.68. Upward momentum has improved and USD is likely to strengthen further. That said, overbought shorter-term conditions could lead to a couple of days of consolidation first. Looking ahead, a clear break of 105.00 would shift the focus to 105.40. Overall, the current positive outlook for USD is deemed intact as long as USD does not move below 104.00 (‘strong support’ level previously at 103.75).”

During today's Asian trading, the US dollar rose slightly against the euro and stabilized against the yen.

The ICE dollar index, which tracks its performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.04%.

The ICE dollar index stabilized in January after falling 6% in 2020. At the same time, investors should take into account that net short positions in dollars, according to the Commodity Futures Trading Commission (CFTC), are at highs from 2017-2018. Closing even a small share of these positions will provoke a significant strengthening of the dollar.

The focus of traders ' attention is on negotiations on a new package of measures to support the US economy. A group of Republican senators invited US President Joe Biden, who previously presented a $1.9 trillion stimulus program, to discuss an alternative package of measures to support the economy of $600 billion.

Biden invited senators to the White House for a "full exchange of views" on the stimulus program, the White House press office said Sunday.

The Chinese yuan fell 0.56% against the dollar on the back of weak statistics. Business activity indices in both the industrial sector and the service sector in China declined in January due to a renewed increase in the incidence of COVID-19 on the eve of the Lunar New Year.

CNBC reports that analysts said that China is set to overtake the United States as the world’s largest economy a few years earlier than anticipated due to the coronavirus pandemic.

The U.S. reported last week that GDP in 2020 contracted by 2.3% to $20.93 trillion in current-dollar terms. In contrast, China said its GDP expanded by 2.3% last year to 101.6 trillion yuan. That’s about $14.7 trillion, based on an average exchange rate of 6.9 yuan per U.S. dollar.

That puts China’s economy at only $6.2 trillion behind the U.S., down from $7.1 trillion in 2019.

“This (divergence in growth) is consistent with our view that the pandemic has been a much larger blow to the US economy than China’s economy,” Rob Subbaraman of Nomura said. “We believe that on reasonable growth projections the size of China’s economy in USD terms will overtake the US in 2028.”

If the Chinese currency strengthens further to around 6 yuan per U.S. dollar, China could surpass the U.S. two years earlier than anticipated — in 2026, Subbaraman said.

According to the report from the Federal Statistical Office (FSO), retail trade turnover adjusted for sales days and holidays showed nominal growth of 3.5% in December 2020 compared with the same month of the previous year. Seasonally adjusted, nominal turnover grew by 2.2% compared with the previous month. Despite the impact of the Covid-19 pandemic on the whole of 2020, provisional results show nominal growth of 0.1%. This positive growth consists of contrasting developments in the sectors with some strong turnover losses and gains.

Real turnover adjusted for sales days and holidays rose in the retail sector by 4.7% in December 2020 compared with the previous year. Real growth takes inflation into consideration. Compared with the previous month, real, seasonally adjusted retail trade turnover registered an increase of 2.6%.

Adjusted for sales days and holidays, the retail sector excluding service stations showed a 5.1% increase in nominal turnover in December 2020 compared with December 2019 (in real terms +6.2%). Retail sales of food, drinks and tobacco registered an increase in nominal turnover of 13.0% (in real terms +13.3%), whereas the non-food sector registered a nominal negative of 1.3% (in real terms +0.1%).

Excluding service stations, the retail sector showed a seasonally adjusted increase in nominal turnover of 2.1% compared with the previous month (in real terms +2.7%). Retail sales of food, drinks and tobacco registered a plus of 3.9% (in real terms +4.5%). The non-food sector showed a minus of 0.1% (in real terms +0.1%).

According to provisional data of the Federal Statistical Office (Destatis), turnover in retail trade in December 2020 was in real terms 9.6% and in nominal terms 9.3% lower than in November 2020 (both adjusted for calendar and seasonal influences). These results can be explained by the second COVID-19 lockdown, which led to a partial retail closure starting on the 16 December 2020.

In December 2020, the turnover in retail trade was in real terms 1.5% and in nominal terms 2.6% larger than in December 2019. The number of days open for sale was 25 in December 2020, whereas only 24 days were open for sale in December 2019.

Compared with the previous year, turnover in retail trade was in the whole year of 2020 in real terms 3.9% and in nominal terms 5.1% higher than in 2019.

EUR/USD

Resistance levels (open interest**, contracts)

$1.2217 (986)

$1.2186 (563)

$1.2165 (629)

Price at time of writing this review: $1.2130

Support levels (open interest**, contracts):

$1.2107 (1587)

$1.2078 (1596)

$1.2039 (3525)

Comments:

- Overall open interest on the CALL options and PUT options with the expiration date February, 5 is 53118 contracts (according to data from January, 29) with the maximum number of contracts with strike price $1,2000 (3741);

GBP/USD

Resistance levels (open interest**, contracts)

$1.3828 (345)

$1.3794 (1516)

$1.3766 (1505)

Price at time of writing this review: $1.3742

Support levels (open interest**, contracts):

$1.3574 (777)

$1.3534 (901)

$1.3490 (1884)

Comments:

- Overall open interest on the CALL options with the expiration date February, 5 is 11143 contracts, with the maximum number of contracts with strike price $1,4000 (1594);

- Overall open interest on the PUT options with the expiration date February, 5 is 21433 contracts, with the maximum number of contracts with strike price $1,2500 (2183);

- The ratio of PUT/CALL was 1.92 versus 1.85 from the previous trading day according to data from January, 29

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.