SPAIN AUCTION PREVIEW: On offer next week
Apr-04 12:04
Tesoro Publico has announced it will be looking forward to sell the following Bono/Oblis at its auct...
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MNI: US MBA: MARKET COMPOSITE +20.4% SA THRU FEB 28 WK
Mar-05 12:00
- MNI: US MBA: MARKET COMPOSITE +20.4% SA THRU FEB 28 WK
OUTLOOK: Price Signal Summary - Bear Cycle In WTI Remains Intact
Mar-05 11:51
- On the commodity front, the recent pullback in Gold appears to be a correction. The move through the 20-day EMA does signal scope for an extension towards the next important support around the 50-day EMA, at $2812.4. However, this week’s gains are a positive development and potentially an early reversal signal. A stronger rally would refocus attention on the next objective at $2962.2, a 2.00 projection of the Nov 14 - Dec 12 - 19 price swing This would also open the $3000.0 handle.
- In the oil space, the current bearish trend condition in WTI futures remains intact and this week’s fresh short-term cycle lows reinforces current conditions. Recent weakness has resulted in a clear breach of support at $70.20, the Feb 6 low. This confirmed a resumption of the downtrend that started Jan 15 and has paved the way for an extension towards $66.41, the Dec 6 ‘24 low. Key short-term pivot resistance is seen at $71.05, the 50-day EMA.
BUNDS: Some of the Highest traded Volumes seen in EGBs Today
Mar-05 11:48
- Some pretty outstanding volumes in EGBs and of course Germany, looking purely at Bund, and ignoring the Roll periods, this is the best traded for this time of the day for quite a while, nothing compares in the H5 or Z4 expiries.
- Only 120k lots is spread related in Bund today, with only residual left for Eurex Rolls.
- The Dust has settled somewhat in the past hour or so, focus this afternoon will be on the {us} US ADP and ISM services.
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