OIL: Iranian Crude Flows to China Seen Robust for March: Kpler
Mar-14 17:34
Iranian crude flows to China are expected to remain robust for the time being, according to Kpler. ...
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US OUTLOOK/OPINION: Nomura Core PCE Tracker Rises From 0.28% to 0.35% M/M
Feb-12 17:25
- Nomura have lifted their core PCE inflation estimate to 0.351% M/M in Jan from a pre-CPI 0.28%.
- With SA revisions affecting “many subcomponents” that feed into core PCE, they see core PCE M/M inflation revised lower in Nov and Dec 2024 by 1-2bp whilst the Oct reading should be revised up 1bp.
- “Note that annual revisions to CPI data will feed into core PCE inflation in Q4 2024 and the impact of CPI annual revisions prior to Q4 2024 will not be reflected until GDP annual revisions in September 2025.”
US TSY OPTIONS: BLOCK: April'25 TY Broken Call Fly Buyer
Feb-12 17:20
- Block: +10,000 TYJ5 109/110/110.5 broken call flys, 12 vs. 108-09/0.10% at 1204:37ET
- Update on earlier trade: +20,000 TYH5 107/107.5 2x1 put spds, 2
EUR: Single Currency Further Buoyed by Russia/Ukraine Optimism
Feb-12 17:15
- More single currency strength in most recent trade as the positive tone of the Trump/Putin discussions fuels optimism for what Trump describes as a ‘successful conclusion’ to the Russia/Ukraine conflict.
- This tips EURUSD back above 1.04 and narrows us in on the 50-day EMA, intersecting today a 1.0427. This marks a key resistance, and a clear break of it would be a bullish development.
- For EURJPY (+1.78%), the intra-day range is nearing 300 pips, as we extend further above the pivotal 160.00 mark. Spot now trades within 30 pips of the key short-term resistance at 161.09, the 50-day EMA.
