PLN: Zloty Loses Shine, Ukraine Situation Under Microscope
EUR/PLN has crept higher amid weakness in the broader CE3 FX space and last deals +219 pips at 4.176...
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GILT AUCTION RESULTS: 4.375% Mar-30 Gilt
| 4.375% Mar-30 Gilt | Previous | |
| Amount | GBP4.25bln | GBP4.25bln |
| Avg yield | 4.276% | 4.490% |
| Bid-to-cover | 3.05x | 3.00x |
| Tail | 0.5bp | 0.5bp |
| Avg price | 100.434 | 99.464 |
| Low price | 100.413 | 99.440 |
| Pre-auction mid | 100.416 | |
| Previous date | 08-Jan-25 |
COMMODITIES: Gold Maintains Bullish Price Sequence, Sights on $2845.20 Next
Last week’s move down in WTI futures marked an extension of the current corrective cycle. The 20-day EMA has been breached and attention is on support around the 50-day EMA, at $72.30. A clear break of the 50-day average would suggest scope for a deeper retracement. On the upside, a reversal higher would refocus attention on $79.48, the Apr 12 ‘24 high and a key resistance. A bull cycle in Gold remains in play. Last week’s extension higher and Monday’s gains confirm a resumption of the uptrend and maintain the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too, highlighting a dominant uptrend. Sights are on $2845.2 next, a Fibonacci projection. The first key support to watch is $2692.6, the 50-day EMA. The 20-day EMA is at $2736.4.
- WTI Crude down $1.43 or -1.95% at $71.76
- Natural Gas down $0.12 or -3.61% at $3.231
- Gold spot up $5.58 or +0.2% at $2821.01
- Copper up $2.1 or +0.49% at $432.75
- Silver up $0.04 or +0.13% at $31.6379
- Platinum up $0.55 or +0.06% at $968.01
