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Bund test MNI tech support on risk sentiment and ahead of Supplies

BUNDS

Bund are better offered since the opening bell, with cross assets taking their cue from the better Equity buying,

  • ESZ0 and VGZ0 are testing high of the session on the US stimulus plan developments.
  • Most of the action is in FX, with broadbase USD selling, with the currency testing low of the session, pushing Gold at the high of the day..
  • Some focus today on some national manufacturing PMI and ECB speakers with de Cos and Lane scheduled.
  • SUPPLIES: Will likely keep the contract heavy ahead of Spain 5/10/40s and France 10/15/20/30s.
  • Bund is testing MNI tech 174.22 20-day EMA and key near-term support

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