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Fed Powell is the main focus

BUNDS
  • A tight overnight range for Bund and contract trades close to flat since the cash open.
  • The contract saw some squaring yesterday afternoon, short covering, with some investors positioned for a Hawk Fed Powell due this afternoon.
  • Support moves up to 150.32 and resistance will be seen at yesterday's high 151.42.
  • Today sees French and Italian Consumer Confidence, and out of the US Wholesale Inventories, PCE Core deflator, and Final reading for Michigan.
  • All the attention will be on Powell of course.

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