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An extremely busy overnight session

BUNDS

An extremely busy overnight session:
Bund gaped higher overnight, and saw a big overnight range with way above average volumes, especially in the shorter end Schatz and Euribor strip, with futures seeing upside traction, as the BoJ left its rate unchanged, as expected.
ERM4 (as an example) is up 16 ticks and has already traded 43.5k, as desks unwinds some of the aggressive rate hike path.
German Final CPI came in line, and the UK GDP beat had no real impact into the contract, with the street waiting on the US NFP/AHE, given the massive beat seen last Month.
Resistance in Bund is at 133.82, the intraday high, followed by 134.34.
Support moves up to 132.88, and 132.37/132.13 (gap), followed by 131.78.
Out of Europe, data sees Spanish Retail sales, Italian PPI, Portugal final CPI, but the main focus is on the US NFP/AHE.
SPEAKERS: ECB Panetta.

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