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Focus turns to Fed Powell Tomorrow

BUNDS
  • June Bund is now front month with expiry on Wednesday.
  • The contract is underpinned in early trade, and testing new intraday high since the cash open.
  • Desk continues to unwind after the 10yr traded as high as 2.773% last week, highest since 2011.
  • Resistance in Bund will be seen towards the 132.00 figure.
  • While support comes at 131.09, followed by Friday's low at 130.47.
  • Today sees, EC Retail sales, US Factory orders and final Durable goods. SPEAKERS: ECB Lane is the only scheduled speaker for today, but the main focus will be on US Powell semi-annual monetary policy report tomorrow.

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