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Drifting lower on the Cash open

BUNDS
  • Although Bund shows that it is 16 ticks down going into the European session, the contract is still closer to Friday's upper range, with the initial resistance noted at 132.80, printed a 132.87 high on Friday and 132.81 high overnight, still holding for now.
  • Supports come at 132.33, 132.00, followed by the 2.50% area in Yield term.
  • There's no Tier 1 data out of Europe and the US, main focus this week will be on Fed Powell, the ECB and US NFP/AHE.
  • SPEAKERS: ECB Holzmann, Fed Harker (non voter).
  • Early weekly flow will be on completing the Eurex roll, ahead of expiry on Thursday.

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