COAL: Polish Coal Production Down 13% On Year in Oct
Nov-27 11:12
Poland's hard coal production fell by 13.4% on the year to 4.19 mn/t in October, although volumes climbed by 20.7% compared to the previous month, data from the Central Statistical Office show, cited by ISB news.
- Hard coal production over January-October amounted to 36.44 mn/t – a 8.5% drop compared to volumes over the same period last year.
- In contrast, lignite production totalled 3.57 mn/t in October, a rise of 6.3% on the year and 7.7% month on month.
- Lignite production in the first 10 months of this year totalled 33.8 mn/t – up by around 3.6% on the year.
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EQUITIES: Estoxx put spread
Oct-28 11:11
SX5E (21st March) 5000/4500ps 1x1.5, bought for 91 in 6k.
BONDS: Bund is back in green territory
Oct-28 11:09
- ERM5 is bought in over 5k, keeping the strip underpinned, as the shorter end Euribor, Schatz and Bobl lead the bounce in Futures.
- Bund has now caught up, back in the green, to test a fresh intraday high, albeit still well within ranges.
Next resistance in Bund comes at 133.54 High Oct 24.
OUTLOOK: Price Signal Summary - USDJPY Bull Cycle Remains In Play
Oct-28 11:01
- In FX, the trend needle in EURUSD continues to point south and the pair is trading closer to its recent lows. Recent short-term gains appear corrective. 1.0778, the Aug 1 low and a key support, has been pierced. A clear break would strengthen the downtrend and open 1.0746, the 76.4% retracement of the Apr - Sep bull leg. Note that moving average studies are in a bear-mode position highlighting a downtrend. Initial firm resistance is 1.0904 the 20-day EMA.
- A bearish price sequence of lower lows and lower highs in GBPUSD remains intact and the pair is trading closer to its recent lows. The move down last week resulted in a breach of 1.2959, the 61.8% retracement of the Aug 8 - Sep 25 bull leg. An extension lower would open 1.2890, the Aug 18 low. On the upside, initial resistance to watch is 1.3071, the 50-day EMA. A clear breach of this EMA is required to signal a reversal.
- The trend condition in USDJPY remains bullish and the pair has traded to a fresh cycle high today, before facing some resistance. Gains confirm a resumption of the current uptrend. Price has breached 153.40, the 61.8% retracement of the downleg posted off the July 3rd high. The move higher sets the scene for an extension towards 155.27, the 2.00 projection of the Sep 16 - 27 - 30 price swing. Initial firm support is 148.10, the 50-day EMA. The 20-day EMA is at 148.10.
