CROSS ASSET: Cash Equities spike to record highs, Bond Futures fall
Feb-12 08:09
- Long end Buxl (supply) Is leading Bund lower here and some selling interest is going on the Equity Cash, although futures are still short of their record high, Cash Equities are gapping to new all time record high.
- Banking index (SX7E) targets 175.41 next, May's 2011 high, now at 172.00.
- As already noted multiple times, next downside target in Bund is at 132.34.
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EURJPY TECHS: Trades Through Support
Jan-13 08:04
- RES 4: 164.90 THigh Dec 30 and a key short-term resistance
- RES 3: 164.55 High Jan 7
- RES 2: 163.43 High Jan 9
- RES 1: 162.55 20-day EMA
- PRICE: 160.89 @ 08:03 GMT Jan 13
- SUP 1: 160.65 Intraday low
- SUP 2: 160.54 50.0% retracement of the Dec 3 - 30 bull cycle
- SUP 3: 159.51 61.8% retracement of the Dec 3 - 30 bull cycle
- SUP 4: 158.67 Low Dec 11
The recent move down in EURJPY appears corrective, however the cross is again trading lower, today, and this has resulted in a breach of initial support at 160.91, the Jan 2 low. The next support to watch is 160.54, 50.0% of the Dec 3 - 30 bull cycle. The 61.8% level is at 159.51. A reversal higher would signal the end of the corrective cycle and refocus attention on 164.90, the Dec 30 high.
GILTS: Opening calls
Jan-13 07:58
Gilt calls, 89.26/89.30.
EQUITIES: EU Cash opening calls
Jan-13 07:57
- Estox 50: -0.43%, Dax: -0.14%, CAC: -0.45%, FTSE -0.00%, SMI -0.12%.
VGH5 (Estoxx) has been falling in the past hour and hovers at session low.
