THB: Baht Under Pressure After Earthquake Rocks Bangkok
Mar-28 08:48
Spot USD/THB has crept higher as a strong earthquake with epicentre in Myanmar shook buildings in Bangkok, leading to the implementation of a state of emergency in the capital. The rate last deals +0.040 at 33.972, with bulls looking for gains towards Mar 3 high of 34.323.
- The Stock Exchange of Thailand (SET) paused stock trading, while the Bank of Thailand (BoT) warned that some of the services offered through bank branches may be limited, even as payment systems and financial services remain operational.
- The SET Index fell by 1.1% until trading halted.
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OPTIONS: Expiries for Feb26 NY cut 1000ET (Source DTCC)
Feb-26 08:42
- EUR/USD: $1.0400(E1.1bln), $1.0420-35(E2.6bln), $1.0440-50(E2.8bln), $1.0460-75(E1.6bln), $1.0495-00(E1.6bln), $1.0510-30(E5.0bln), $1.0550(E1.4bln)
- USD/JPY: Y149.00($956mln), Y150.00($833mln), Y150.20-25($780mln), Y151.00($1.4bln), Y151.95($1.0bln)
- EUR/JPY: Y155.00(E927mln)
- GBP/USD: $1.2675(Gbp619mln)
- AUD/USD: $0.6400(A$817mln)
- USD/CAD: C$1.3500($1.2bln), C$1.4300($784mln), C$1.4390-00($1.4bln)
- USD/CNY: Cny7.3500($1.2bln)
CROSS ASSET: A $3.3k bounce in Bitcoin
Feb-26 08:31
- Bitcoin has managed to bounce back above that 50% retracement noted Yesterday at $88,027.59, this is the retracement post the US Election rally.
- Bitcoin lost a whopping ~10.55k in just the last two sessions, and after bouncing some ~3.3k from Yesterday's low, it is drifting back down to that $88,027.59 level.
- Next supports are still seen at 85,133.12, followed by 83,021.19, 61.8% retracement of the US Election Rally.
(Chart source: MNI/Bloomberg).
GILTS: Flat Start, Global Cues Still Eyed
Feb-26 08:23
Gilts little changed with Bunds and Tsys off lows ahead of the UK open.
- Core global FI came under pressure in Asia on the back of increased odds of U.S. tax cuts.
- M5 futures -6 at 93.17, narrow 93.12-24 range to start.
- Initial resistance at the Feb 13 high (93.39), with the bullish technical theme intact in the contract.
- Roll completion stands at ~85% ahead of tomorrow’s first notice for H5.
- Yields little changed to 1bp lower across the curve.
- Little of note on the UK data calendar today,
- BoE dove Dhingra will speak on “Trade fragmentation and monetary policy” from 16:30 GMT, don’t expect a change in tone after she reaffirmed her dovish stance earlier in the week (pushing back against the idea of gradual cuts given her view on consumption).
