BASIC INDUSTRIES: Givaudan (GIVNVX Baa1[N]/A-/NR): 1Q25 Sales
* Givaudan reported firm 1Q sales, beating consensus by 2%. Organic growth was 140bp ahead at 7.4%...
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EURJPY TECHS: Short-Term Reversal
- RES 4: 164.08 High Jan 24 and a key resistance
- RES 3: 162.70 High Jan 28
- RES 2: 161.80 High Jan 30
- RES 1: 161.28 High Mar6
- PRICE: 159.94 @ 07:34 GMT Mar 11
- SUP 1: 158.65 20-day EMA
- SUP 2: 155.60 Low Mar 4
- SUP 3: 154.80 Low Feb 28 and a bear trigger
- SUP 4: 154.42 Low Aug 5 ‘24 and key medium-term support
EURJPY is holding on to its recent gains. Last week’s rally undermines a recent bearish threat and instead highlights a potential reversal. The cross has pierced resistance at 161.19, the Feb 13 high. A clear break of the hurdle would strengthen a bullish condition. Initial support to watch is 158.65, the 20-day EMA. Key support has been defined at 154.80, the Feb 28 low.
EURIBOR OPTIONS: Call fly buyer
ERK5 97.9375/98.00/98.0625c fly, bought for 0.75 in 2.5k.
EGBS: /REPO: Commerzbank Look For Anchored Repo In Immediate Term
Commerzbank note that “repo transmission (from the latest ECB rate cut) is so far working smoothly with the cut fully embedded into yesterday’s repo trade. We expect short-dated repo spreads to stay anchored for now despite the pending issuance Tsunami (related to fiscal spending), as it will take time before the debt to hit the markets”.
