OIL: Kazakhstan Tengiz Output Surging, Despite Reaffirming OPEC+ Commitments
Feb-05 10:47
Production at Kazakhstan's Tengiz surging, amidst Kazakhstan's reaffirmation of commitment to OPEC+ ...
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SCHATZ TECHS: (H5) Fresh Cycle Low
Jan-06 10:43
- RES 4: 107.365 High Dec 12
- RES 3: 107.170 High Dec 20
- RES 2: 107.065 20-day EMA
- RES 1: 106.965 High Jan 3
- PRICE: 106.715 @ 10:27 GMT Jan 6
- SUP 1: 106.695 Intraday low
- SUP 2: 106.680 Low Nov 20 (cont)
- SUP 3: 106.645 Low Nov 18 (cont)
- SUP 4: 106.625 2.00 proj of the Dec 2 - 6 - 12 price swing
The current bear cycle in Schatz futures remains intact and recent weakness, including today’s fresh cycle low, reinforces this theme. The Jan 3 sell-off confirmed a resumption of the bear leg and sights are on 106.695, the Nov 20 ‘24 low (cont). Initial firm resistance is seen at 107.065, the 20-day EMA. A clear break of it would highlight a potential reversal. For now, short-term gains would be considered corrective.
GERMAN T-BILL AUCTION RESULTS: 6-Month Bubill
Jan-06 10:40
| Type | 6-month bubill |
| Maturity | Jul 16, 2025 |
| Allotted | E1.152bln |
| Previous | E1.55bln |
| Total sold | E2bln |
| Target | E2bln |
| Avg yield | 2.475% |
| Previous | 2.667% |
| Bid-to-cover | 2.17x |
| Previous | 1.72x |
| Bid-to-offer | 1.25x |
| Previous | 1.34x |
| Previous date | Nov 18, 2024 |
DUTCH T-BILL AUCTION RESULTS: 3/6-Month DTCs
Jan-06 10:39
| Type | 3-month DTC | 6-month DTC |
| Maturity | Mar 28, 2025 | Jun 27, 2025 |
| Amount | E1.61bln | E1.14bln |
| Target | E1.0-2.0bln | E1.0-2.0bln |
| Previous | E1.05bln | E1bln |
| Avg yield | 2.733% | 2.55% |
| Previous | 2.730% | 2.571% |
| Bid-to-cover | 1.47x | 1.27x |
| Previous | 2.67x | 2.12x |
| Previous date | Dec 09, 2024 | Dec 09, 2024 |
Source: Bloomberg
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