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Another gap overnight

BUNDS
  • Seeing this many gaps in Bund is not usually the norm, but the contract has again seen another gap overnight, the contract ticked higher to slowly recover towards pre US IJC levels, was trading around 134.54 pre data, but only managed a 134.42 high overnight.
  • US Tnotes (TYU4) was trading circa 113.05+, managed a 112.30 high overnight.
  • Resistance in Bund moved down to 134.78 Yesterday, followed by 135.18, this remains.
  • Small support is back at 134.17, but better is seen at 133.77.
  • German final CPI was inline, and the only data left for the session will be the final Italian CPI, with no Data due out of the US.
  • For North America though, Canadian Employment data is the major release for the country, always has potential to move markets there.

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