The Hang Seng suffers biggest daily drop since May last year amid HK's first trading tax hike since 1993

24 Feb 2021
China investors sell a record $2.6 billion worth of Hong Kong stocks
This comes after the Hong Kong government announced to increase stamp duty on stock trades for the first time since 1993, provoking an exodus of Chinese investments.


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European equities more mixed at the open

24 Feb 2021
The more subdued tones earlier are fading a little to start the session
UK stocks are trailing as the pound keeps higher but we are seeing some slight and subtle improvement in risk tones to start the session. This comes as from the tail-end of Asian trading earlier.
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US futures claw back some of its earlier losses to start the session

24 Feb 2021
Risk appetite being tested once again today
The more sombre mood from Asia is keeping risk sentiment more tepid as we start European morning trade, with the 3% drop in the Hang Seng (HK government raising stamp duty tax on the stock market for the first time since 1993) a major dampener.
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France February business confidence 90 vs 92 expected

24 Feb 2021
Latest data released by INSEE - 24 February 2021
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China commerce ministry says foreign trade outlook for the year remains grim and complex

24 Feb 2021
Comments by the Chinese commerce ministry
Well, unless the world starts to open up again, this year will largely be one that is epitomised by a gradual push back towards pre-virus conditions once again.
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Eurostoxx futures -0.3% in early European trading

24 Feb 2021
Softer tones in early trades
Risk is keeping more defensive to start the session, with UK stocks leading the decline amid the push higher in the pound today with cable sitting at 1.4200 currently.
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UK restrictions could be lifted sooner than 21 June if vaccine data is better than anticipated - report

24 Feb 2021
The Telegraph reports on the matter
The report says that Boris Johnson's roadmap to lift lockdown restrictions in the UK could be accelerated if "real world data on the effect of vaccines is better than expected", citing government sources on the matter.
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Germany Q4 final GDP +0.3% vs +0.1% q/q prelim

24 Feb 2021
Latest data released by Destatis - 24 February 2021
Slight delay in the release by the source. The preliminary report can be found .
That's a bump to the initial estimate as the German economy barely squeezed out growth at the end of last year, but at least that beats out fears of a possible contraction.
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Trade ideas thread - European session 24 February 2021

24 Feb 2021
Daily thread to exchange ideas and to share your thoughts
Meanwhile, the latter continues to be buoyed by the solid technical picture with EUR/GBP falling below 0.8600 for the first time since February last year.



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Pound holds higher after earlier spike

24 Feb 2021
The pound ran some stops earlier today with EUR/GBP falling below 0.8600
The pound continues to do no wrong since the start of the year as the spike earlier today just bolsters the technical picture in the quid across the board for the moment.
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