EMERGING MARKETS: CEEMEA FX Price Signal Summary - EURPLN Bear Leg Extends
Feb-13 12:18
- A bear cycle in EURHUF remains in play and the contract has traded lower once again, this week. The cross has cleared support at 403.86, the Nov 7 ‘24 low, reinforcing a bearish theme. Note too that moving average studies have crossed to highlight a dominant downtrend. This opens the 400.00 handle, and 398.31, the Oct 9 ‘24 low. Initial key resistance is at 408.72, the 50-day EMA.
- A downtrend in EURPLN remains intact and the cross has again traded to a fresh cycle low, today. This confirms a resumption of the downtrend. Sights are on 4.1506, the 3.236 projection of the Nov 6 - 7 - 12 ‘24 price swing. A break of it would open 4.1408, the 3.382 projection. On the upside, resistance to watch is 4.2405, the 50-day EMA. A clear break of this average would highlight a possible reversal and expose 4.2838, the Jan 9 high. The 20-day EMA, an initial resistance, is at 4.2090.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
CROSS ASSET: Broader demand for the Dollar as US Yields edge higher
Jan-14 12:15
- USDJPY breaks through its intraday high, as just pointed taking its cue from the push lower in US Treasuries, US 10yr Yield is close to test the 4.80% level that held Yesterday.
- There isn't much in terms of resistance in the USDJPY at current prices, and we are seeing instead 158.87 High Jan 10 next.
- GBP, CAD, NOK, AUD are all testing their session lows, with broader offers also emerging against the NOK, CNH, NZD, CZK, and CHF.
US: Hegseth Is First Trump Cabinet Nominee To Face Senate Scrutiny
Jan-14 12:05
Defense Secretary nominee, Pete Hegseth, will become the first of US President-elect Donald Trump’s Cabinet nominations to face Senate scrutiny when he appears before the Senate Armed Services Committee at 09:30 ET 14:30 GMT. LIVESTREAM
- Hegseth will receive a grilling from Democrats over personal misconduct allegations and a lack of managerial experience. Today's hearing will set the tone for upcoming hearings with other embattled nominees - Robert F. Kennedy Jr. (Health Secretary), Kash Patel (FBI Director), and Tulsi Gabbard (Director of National Intelligence) - who are yet to have hearings scheduled.
- Key panel Democrat Senator Mark Kelly (D-AZ) said: “I'm interested in hearing about how [Hegseth's] experience has prepared him for the job of managing 3 million people and an $850 billion a year budget,”
- According to prepared remarks, Hegseth will argue that US national security will be bolstered by “someone with dust on his boots [at] the helm” of the Department of Defense, pledging to give "new defense companies" a better chance to win contracts, and rapidly deploy emerging technologies.
- If the Armed Services Committee votes to discharge Hegseth’s nomination to the full Senate, he can drop three Republican votes and remain on track for confirmation without requiring Democrat support.
- Data from Polymarket shows Hegseth has weathered an initial wave of opposition, with an implied probability of 85% of Senate confirmation.
Figure 1: Trump’s Defense Secretary, % Implied Probability of Confirmation
Source: Polymarket
US TSY FUTURES: New lows for Tnotes, Yield levels are in Focus
Jan-14 11:59
- US Tnotes found some support at the 4.80% Mark Yesterday, and while the street wait on the US CPI Tomorrow, PPI Today, some desks will again be watching the 4.80% level, tested a 4.8026% high and a 107.06 low in TYH5.
Looking further out and in case of upside traction in Yield, most Investors will be eyeing the big 5% level:
- 4.8500% = 106.30.
- 4.9000% = 106.20.
- 4.9500% = 106.10.
- 5.0000% = 106.00+.
- 5.0187% = 105.28+ (2023 high and highest since July 07).
(Chart source: MNI/Bloomberg):
Related by topic
CEEMEA
