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French supply is the early focus

BUNDS
  • Another tight range bound low volume session for the Bund contract on this Easter week, and ahead of the long Bank holiday weekend.
  • All markets in Europe and the UK will be closed Friday/Monday.
  • Although the contract shows in the red and dips lower following the big German IP beat on the cash open in low Fast Money volumes, it remains at its best levels in 8 sessions, after few data misses this week.
  • Support in Bund moves up to 136.59, while resistance will be seen at 137.49, followed by the 137.85 area, the left/right shoulders of the head and shoulder on the hourly chart of the 23rd/27th March.
  • With the German IP out of the way, there's no tier 1 data left for the session, German/UK construction PMIs are the only notable releases left for the day.
  • SUPPLY: France 10s, 20s, 30s.
  • SPEAKERS: Fed’s Bullard Discusses the Economic Outlook, but unlikely to hear anything new, big hawk and only a voter in 2025.

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