NATGAS: Peace Efforts In Ukraine 'Unlikely' To Impact 2025 Filling Season
Efforts to secure Ukraine peace agreement are unlikely to have an impact on Russian gas deliveries t...
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FOREX: FX OPTION EXPIRY
Of note:
EURUSD 1.51bn at 1.0390/1.0405.
USDJPY 1.65bn at 153.50/153.75.
AUDUSD 1.04bn at 0.6200 (a bit far).
EURUSD 2.3bn at 1.0375/1.0400 (thu).
EURUSD 3.29bn at 1.0400 (fri).
USDJPY 1.7bn at 153.85/154.00 (fri).
AUDUSD ~1bn at 0.6300 (fri).
USDCNY 2.16bn at 7.3000 (fri).
EURUSD 1.69bn at 1.0300 (tue).
- EURUSD: 1.0300 (1.9bn), 1.0305 (209mln), 1.0325 (1.04bn), 1.0340 (754mln), 1.0350 (239mln), 1.0375 (200mln), 1.0380 (280mln), 1.0390 (318mln), 1.0400 (850mln), 1.0405 (343mln).
- GBPUSD: 1.2450 (430mln).
- USDJPY: 153.15 (531mln), 153.50 (840mln), 153.70 (589mln), 153.75 (225mln).
- AUDUSD: 0.6200 (1.04bn), 0.6300 (283mln).
- AUDNZD: 1.1100 (295mln).
BONDS: Off Lows As Oil Ticks Lower
The downtick in crude oil is probably providing some background support for core global FI markets after the initial supply-/equity-induced pressure, with major bond markets edging away from session lows in recent trade.
- Little in the way of fresh fundamental news flow to report.
- Presence of long end supply from Germany and the equity uptick leaves EGB spreads to Bunds little changed to ~1bp tighter on the day, although the long end OAT syndication, as well as Portuguese and Greek issuance is also eyed.
EURIBOR OPTIONS: Call Condor buyer
- ERM5 97.875/98.00/98.125/98.25c condor, bought for 4.75 in 2k.
Last Week saw some similar interest buying of the same Condor vs the 97.75/97.625ps, they were paying 2 for that condor vs ps structure.
