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ALL EYES on EU CPI

BUNDS
  • The relentless pullback continues for Bund futures and Govies, with recessions at the forefront.
  • Data of late have missed expectations, and ALL EYES are now turning to the European Inflation data at 10.00BST.
  • Bund has now gained 473 ticks in just the past 3 sessions, and a massive 879 ticks from the 16th June low.
  • Next resistance for Bund is at 150.06 61.8% retracement of the May 12 - Jun 16 bear leg.
  • ALL EYES are on EU CPI.
  • Today also includes Italian prelim CPI. Manufacturing PMIs are also scheduled, but will be Final readings for France, Germany, EU, UK and US.
  • More focus on US ISM this afternoon.
  • SPEAKERS: ECB Panetta, de Cos.

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