Hedge Funds Cut Net Bullish Nymex Gasoline Bets to 6-Month Low: Bloomberg * Money managers have dec...
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USDJPY traded stronger Wednesday, extending the recovery from the Feb 7 lows. The move higher appears to be a correction and this is allowing an oversold trend condition to unwind. Key short-term resistance is seen at 154.51, the 50-day EMA. It has been pierced, a clear breach at the close would highlight a stronger reversal of the Jan 10 - Feb 7 bear leg. This would open 155.89, the Feb 3 high. Key support and bear trigger is 150.93, the Feb 7 low.
RRP usage falls to the lowest level since mid-April 2021 this afternoon: $67.670B vs. $76.446B on Tuesday. The number of counterparties falls to 27 from 36 prior.
Bundesbank President Nagel said Wednesday the Bundesbank is set to publish a debt brake proposal after the German parliamentary elections on February 23, Bloomberg reports. All mainstream parties except the pro-business FDP have signaled at least some readiness for reforms following the vote.