SILVER TECHS: Bullish Trend Condition
Feb-21 07:55
* RES 4: $35.736 - 1.236 proj of the Feb 14 - Apr 12 - May 2 '24 swing * RES 3: $34.903 - High Oct 2...
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STIR: Euribor Futures Off Highs Alongside Bunds, More Dovish ERM5 Structures
Jan-22 07:53
Euribor futures are -0.5 to -1.5 ticks softer through the blues, off overnight highs alongside Bunds.
- ERM5 is -0.5 ticks at 97.780. We have seen several dovish option structures in this contract over the past three days.
- ECB-dated OIS continue to essentially fully price 25bp cuts at the January and March meetings, with 97bps of easing priced through year-end.
- Policymakers generally appear comfortable with market pricing in the near-term, with Dutch CB Governor Knot the latest to endorse Jan/March pricing.
- However, Knot did not express a need to bring policy below the neutral rate - unsurprisingly given his generally hawkish leanings.
- Meanwhile, Bank of Greece Governor Stournaras re-iterated his calls for gradual 25bp cuts towards 2%.
- Today’s regional data calendar is light, with focus on ECB speakers. President Lagarde is scheduled at 1505GMT/1605CET.
| Meeting Date | ESTR ECB-Dated OIS (%) | Difference Vs. Current Effective ESTR Rate (bp) |
| Jan-25 | 2.675 | -24.6 |
| Mar-25 | 2.439 | -48.2 |
| Apr-25 | 2.275 | -64.6 |
| Jun-25 | 2.119 | -80.3 |
| Jul-25 | 2.068 | -85.3 |
| Sep-25 | 1.998 | -92.3 |
| Oct-25 | 1.977 | -94.4 |
| Dec-25 | 1.944 | -97.7 |
| Source: MNI/Bloomberg. | ||
MNI EXCLUSIVE: MNI Looks At Friday's BoJ Decision
Jan-22 07:48
BOJ officials are watching markets closely ahead of Friday's meeting.-On MNI Policy MainWire now, for more details please contact sales@marketnews.com
EURIBOR OPTIONS: Call spread buyer
Jan-22 07:43
ERM5 98.12/98.25cs, bought for 0.75 in 3k.
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