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Bunds little changed ahead of French inflation data

BUNDS
  • Bund futures are little changed in early trading and have traded in a narrow range overnight with little reaction to the French activity or German retail sales data.
  • French inflation data at 7:45GMT / 8:45CET will be a key release for Bunds which fell over 100 ticks yesterday on the release of higher than expected Spanish HICP data.
  • Our technical analysts still sees a bearish outlook for Bunds with the initial support seen at yesterday's low of 136.38.
  • Initial resistance is seen at the 50-day EMA of 137.91.

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