NATGAS: Funds Reduce Net long TTF Positions Again
Feb-26 08:55
GAS POSITIONING - Investment funds reduced net long ICE TTF futures positions further in the week to Feb. 21 as the bearish pull back in prices extends.
- Front month futures have fallen from a high of €59.39/MWh on Feb. 11 amid milder weather in Europe easing pressure on end of season gas storage withdrawals. Market focus remains on Ukraine peace talks as well as summer restocking and future storage targets.
- Investment Firm net position increased by 22.89m to -211.75m
- Investment Funds net position fell by 27.32m to +231.30m
- Commercial Undertaking net position increased by 4.47m to -19.90m
Source: Bloomberg
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GERMAN AUCTION PREVIEW: Coupon size announcement
Jan-27 08:54
Germany has announced the coupon of its new Mar-27 Schatz on auction tomorrow at 2.20%. E5bln of that Schatz will be on offer.
US TSY FUTURES: A busy start of the Week
Jan-27 08:53
- US Tnotes is met by some decent selling above the 109.00 figure, and already some notable volumes across Core Govies on both sides of the Atlantic.
- Further upside momentum in TYH5 opens to the next resistance seen at 109.08+, and this would be followed by 109.28, not a Tech level but where the contract was trading at before the Hawkish Powell at the last FOMC meeting in December.
- In yield terms, 4.50% is at 109.10 today.
JPY: Testing broader highs
Jan-27 08:42
- A broader bid goes through for the Yen, testing an intraday high versus the EUR, USD, AUD and GBP, the US Tnotes has broken above 109.00, helping Yields lower.
- Next immediate support in USDJPY comes at 155.15/154.97 50-day EMA / Trendline drawn from Sep 16 low, but note that it traded as low as 154.78 last Week.
