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Continues to trade on the front foot

BTP

BTP continues to trade on the front foot, albeit just off today's session high.

  • The contract has gained 341 ticks since the 19th May, mainly driven by ECB speakers putting cold water onto Tapering talks.
  • ALL EYES will turn to the next ECB meeting on the 10th.
  • Technically, next MNI tech upside resistance now comes at 148.10 61.8% retracement of the Mar 29 - May 19 sell-off.
  • Also, worth noting that the next yield level is at 0.854% which would equate (reference 147.80) today to 148.09

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