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Combination Of Drivers Pressure E-Minis

EQUITIES

E-minis have moved lower on a combination of a firmer USD, as White House economic Deese pushed back on the need for a Plaza-like FX accord, an uptick in U.S. Tsy yields and BBG headlines noting that Apple has “ditched” an iPhone production increase on the back of faltering demand.

  • E-minis have more than unwound their early bid, with the 3 major contracts running 0.7-1.0% lower, with the S&P 500 and NASDAQ 100 contracts through their respective cycle bases.
  • The next level of technical support for the S&P 500 contract comes in at the round number of 3,600.
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E-minis have moved lower on a combination of a firmer USD, as White House economic Deese pushed back on the need for a Plaza-like FX accord, an uptick in U.S. Tsy yields and BBG headlines noting that Apple has “ditched” an iPhone production increase on the back of faltering demand.

  • E-minis have more than unwound their early bid, with the 3 major contracts running 0.7-1.0% lower, with the S&P 500 and NASDAQ 100 contracts through their respective cycle bases.
  • The next level of technical support for the S&P 500 contract comes in at the round number of 3,600.