July 05, 2024 06:25 GMT
Focus turns to US NFP/AHE
BUNDS
- No impact on Govies following the UK Election, even the Pound is fairly stable, and is mixed against G10s.
- The German Bund traded in a 16 ticks range overnight going into the cash open as we head into the US NFP later in the day.
- German IP was a big miss, although saw a small upside revision, not a known market mover, still was worth a 8 ticks spike to break the intraday high post cash open for the contract.
- Technical levels are unchanged, support is still at 130.25, but better will be seen at 130.13, equated circa 2.65% Yesterday.
- Resistance is at 131.15/131.52 (gap)
- Today sees, France IP, Italy retail sales, but more importantly US NFP/AHE.
- SUPPLY: Belgium 2035, 2039, tiny 500mio, won't impact Bund.
- SPEAKERS: ECB Lagarde, Nagel, Fed Williams.
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