BUNDS: Attention turns to the Prelim PMIs
Apr-23 06:28
* The German Bund remains elevated despite showing that it is in the red and drifting through sess...
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SCHATZ TECHS: (M5) Unwinding An Oversold Condition
Mar-24 06:27
- RES 4: 107.120 High Mar 4 and key resistance
- RES 3: 106.951 76..4% retracement of the Mar 4 - 6 bear leg
- RES 2: 106.847 61.8% retracement of the Mar 4 - 6 bear leg
- RES 1: 106.800 High Mar 21
- PRICE: 106.740 @ 06:08 GMT Mar 24
- SUP 1: 106.630 Low Mar 18
- SUP 2: 106.540 Low Mar 12
- SUP 3: 106.500 Low Mar 7
- SUP 4: 106.405 Low Mar 6 and the bear trigger
A bearish condition in Schatz futures remains intact and the latest recovery appears corrective. The move higher has allowed an oversold trend condition to unwind. Resistance to watch is 106.847, a Fibonacci retracement. Recent weakness resulted in a breach of key support at 106.735, the Feb 19 low. The break strengthens a bearish theme and signals scope for a deeper sell-off, towards 106.350, a Fibonacci retracement.
LOOK AHEAD: UK Timeline of Events (Times GMT)
Mar-24 06:23
| Date | UK | Period | Event |
| 24-Mar | 0930 | Mar | Flash PMIs |
| 24-Mar | 1800 | - | BOE's Bailey lecture on UK growth |
| 25-Mar | 1100 | Mar | CBI Distributive Trades |
| 26-Mar | 0700 | Feb | Consumer inflation report |
| 26-Mar | - | - | OBR Spring Forecasts |
| 26-Mar | 1530 | Q2 | DMO agenda for quarterly consultation |
| 27-Mar | 0830 | - | BOE's Dhingra on inflation targeting in the UK post pandemic period |
| 28-Mar | 0700 | Feb | Retail Sales |
| 28-Mar | 0700 | Q4 | Current account balance / GDP 2nd est |
| 28-Mar | 0700 | Jan | Trade Balance |
| 31-Mar | 0930 | Jan | BOE Lending to Individuals |
| 31-Mar | - | - | DMO Quarterly Investors/GEMM consultation |
| 01-Apr | 0001 | Mar | BRC Monthly Shop Price Index |
| 01-Apr | 0915 | - | BoE's Greene on ‘UK MP/macro conjuncture’ |
| 01-Apr | 0930 | Mar | Final Manufacturing PMI |
| 03-Apr | 0930 | Mar | Decision Maker Panel data |
| 03-Apr | 0930 | Mar | Services / Composite Final PMI |
LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
Mar-24 06:18
| Date | Time | Country | Event |
| 24-Mar | 815 | FR | S&P Global Flash PMIs (p) |
| 24-Mar | 830 | DE | S&P Global Flash PMIs (p) |
| 24-Mar | 900 | EU | S&P Global Flash PMIs (p) |
| 25-Mar | 800 | ES | PPI |
| 25-Mar | 900 | DE | IFO Business Climate Index |
| 25-Mar | 1400 | BE | BNB Business Confidence |
| 26-Mar | 745 | FR | Consumer Sentiment |
| 26-Mar | 800 | ES | GDP (f) |
| 26-Mar | 1800 | EU | ECB's Cipollone in panel on Digital Finance |
| 27-Mar | 900 | EU | M3 |
| 27-Mar | FR | Insee publishes General Govt balance | |
| 27-Mar | 1300 | EU | ECB's De Guindos at 2025 IIF European Summit |
| 27-Mar | 1740 | EU | ECB's Schnabel lecture on MonPol Transmission |
| 27-Mar | 1805 | EU | ECB's Lagarde message for Women in Finance conference |
