MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI China Daily Summary: Thursday, December 12

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

A busy day ahead, the 2.30% level will be watched

BUNDS
  • There's very little change in Bund, after the contract fully reversed Yesterday's post German CPI rally, in part helped by the US Labour Data.
  • It's another tight 11 ticks range going into the cash open and the 2.30% level remains key.
  • Looking at the Futures chart it could be forming a falling wedge, typically bullish, and so far the short term weakness is seen as such, and to be corrective.
  • Month end should have limited impact in Europe, these are on the small side, while the UK is set to contract, so a non event.
  • For the US, these are below averages, but still ok, so a late bid into the unofficial EU close can't be ruled out, still should be limited.
  • Support will then be at the 2.30% mark for Bund, this equated to circa 133.64 Yesterday, equated to 133.66 on Tuesday.
  • The resistance fell down to 134.51 Yesterday, and that held, after printing a 134.49 high.
  • Above the latter, would open to 134.70, and more importantly 135.18, which has held for over two weeks.
  • It is another busy day on the Data front, EU, France, Italy, Portugal prelim CPIs, France prelim GDP, Portugal final GDP, US core PCE, MNI Chicago PMI, and final Michigan.
  • SPEAKERS: ECB Schnabel, Rehn, Kazaks, Simkus, Muller.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.