"*HON HAI FY OPER PROFIT NT$200.61B, EST. NT$197.56B" - BBG * Hon Hai (Foxconn) has reported FY res...
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Italy is due to sell bills today, whilst France, Spain, Belgium, and Finland have already issued this week. We expect issuance to be E22.2bln in first round operations, down from E25.8bln last week.
For more on future auctions see the full MNI Eurozone/UK T-bill auction calendar here.
Eurostoxx 50 futures traded higher Tuesday and the contract is holding on to its gains. The move higher confirms once again, a resumption of the uptrend that started on Nov 21 ‘24. Moving average studies are in a bull mode set-up too, highlighting a dominant uptrend. The focus is on 5434.10 next, a Fibonacci projection. Initial firm support to watch lies at 5243.32, the 20-day EMA. The 50-day EMA is at 5094.95.
EURGBP is in consolidation mode. Gains last week appear to have undermined a recent bearish threat, however, the pullback from the Feb 6 high does highlight a developing bearish threat. 0.8378, the Jan 6 high, has been defined as a ley short-term resistance. Clearance of it would strengthen a bullish condition and signal scope for a stronger recovery. For bears, a continuation lower would open 0.8248, the Feb 3 low and bear trigger.