EQUITIES: European Equities are extending losses
Nov-08 10:10
- Estoxx futures and Cash Indices trades on the back foot today, a continuation since the Cash open.
- While some investors might be looking 4796.00 for a short base in VGZ4, better support would be seen at 4757.00, the September low, and lowest print since mid August.
- Bank stock (SX7E) sees next support at 141.91, while the price action in Europe is starting to weigh on the US Emini, as it fades off its overbought level.
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OUTLOOK: Price Signal Summary - S&P E-Minis Trend Needle Points North
Oct-09 10:05
- In the equity space, a bull cycle in S&P E-Minis remains intact and the latest shallow pullback still appears to be a correction. Price is trading closer to its recent highs. MA studies are in a bull-mode setup, highlighting a dominant uptrend and positive market sentiment. Sights are on 5868.50, a 1.00 projection of the Apr 19 - Jul 16 - Aug 5 price swing, and 5900.00 further out. Initial support to watch is 5742.64, the 20-day EMA. It has been pierced. Key support lies at 5674.40 the 50-day EMA.
- EUROSTOXX 50 futures are unchanged. The latest pullback appears to be a correction. Key short-term support to watch is 4929.62, the 50-day EMA. A clear break of this EMA would signal scope for a deeper retracement. Recently, the contract breached resistance at 5024.00, the Sep 3 high. This confirmed a resumption of the bull leg that started Aug 5 and cancels a recent bearish theme. Key resistance and bull trigger is 5106.00, the Sep 30 high.
OPTIONS: Larger FX Option Pipeline
Oct-09 09:50
- EUR/USD: Oct11 $1.0500(E4.0bln), $1.1000(E2.5bln), $1.1045-50(E1.6bln)
- USD/JPY: Oct10 Y149.80-00($1.5bln); Oct14 Y149.00($1.5bln)
- AUD/USD: Oct10 $0.6760-75(A$1.1bln); Oct11 $0.6885-00($1.1bln)
- USD/CAD: Oct10 C$1.3595-00($1.1bln), C$1.3650($1.0bln); Oct11 C$1.3600($1.1bln); Oct14 C$1.3345($1.1bln)
GERMAN AUCTION RESULTS: 0% May-36 Bund / 2.60% May-41 Bund
Oct-09 09:34
| 0% May-36 Bund | 2.60% May-41 Bund | |
| ISIN | DE0001102549 | DE000BU2F009 |
| Total sold | E500mln | E1bln |
| Allotted | E408mln | E846mln |
| Previous | E0.457bln | E0.818bln |
| Avg yield | 2.34% | 2.52% |
| Previous | 2.60% | 2.50% |
| Bid-to-offer | 3.98x | 2.76x |
| Previous | 3.45x | 2.24x |
| Bid-to-cover | 4.87x | 3.27x |
| Previous | 3.77x | 2.73x |
| Avg price | 76.46 | 101.05 |
| Low price | 76.46 | 101.04 |
| Pre-auction mid | 76.386 | 100.989 |
| Prev avg price | 73.81 | 101.31 |
| Prev low price | 73.80 | 101.29 |
| Prev mid-price | 73.753 | 101.249 |
| Previous date | 10-Jul-24 | 04-Sep-24 |
