EUR: Volume Surge Makes For Busiest Day of Trump's Term for FX
Apr-03 10:23
This likely goes without saying, but the volume spike on this latest break higher in EUR/USD is significant: over 16,000 EUR futures contracts traded inside three minutes.
- That's the largest EURUSD futures volume, appropriately, since January 20th and the day of Trump's inauguration, where a WSJ headline: "*TRUMP PLANS BROAD MEMORANDUM TO STUDY TRADE POLICIES MONDAY:WSJ" triggered another phase of USD weakness.
- Today's trade in currency futures is unsurprisingly well ahead of average, over tripling the volume you'd expect to see at this time of day, with over $2.3bln notional traded on the way through $1.1100 - making this the busiest day for the pair since Trump was sworn in.
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EURIBOR OPTIONS: Mid Curve Call Spread
Mar-04 10:23
0RJ5 98.25/98.50cs, bought for 3.75 in 5k.
AUSTRIA AUCTION RESULTS: 10/30-Year RAGBs
Mar-04 10:12
| 2.95% Feb-35 RAGB | 3.15% Oct-53 RAGB | |
| ISIN | AT0000A3HU25 | AT0000A33SK7 |
| Issue Amount | E1.035bln | E978mln |
| Previous | E5bln | E690mln |
| Allotted | E900mln | E850mln |
| Previous | E4.75bln | E600mln |
| Avg yield | 2.845% | 3.275% |
| Previous | 2.997% | 2.835% |
| Bid-to-cover | 2.57x | 2.55x |
| Previous | 2.22x | |
| Bid-to-issue | 2.23x | 2.22x |
| Previous | 1.93x | |
| Avg price | 100.898 | 97.688 |
| Low price | 100.871 | 97.630 |
| Pre-auction mid | 100.675 | 97.429 |
| Prev avg price | 99.596 | 106.140 |
| Prev low price | 106.060 | |
| Prev mid-price | 105.803 | |
| Previous date | 28-Jan-25 | 10-Dec-24 |
GILT AUCTION RESULTS: Strong 30-year gilt auction
Mar-04 10:09
- A decent 30-year gilt auction for the 4.375% Jul-54 gilt with the LAP (lowest accepted price) of 88.919 above the pre-window closing price (but note the concession that was priced in a minute or so before the biding cut off).
- The price of the 4.375% Jul-54 gilt moved higher after the results were published while gilt futures also moved around 13 ticks higher in the 3 minutes post results being published.
