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EUROSTOXX50 TECHS

(Z1) Bull Flag

BTP TECHS

(Z1) Fresh Trend Low

GILT TECHS

(Z1) Bearish Focus

CROSS ASSET

Some Reasoning For The Risk-Off Feel

SCHATZ TECHS

(Z1) Volatile But Remains Bearish

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  • USDMXN extending the move north, following the break of short-term resistance at 20.2039 earlier today.
  • Additionally, the pair is currently breaching the short-term downtrend line across the June and August highs earlier this year, as indicated below.
  • A sustained move above here may target the 20.4564, Aug 20 high and key resistance. Initial support remains just ahead of the 20.00 mark in the form of the 50/100 day moving averages before more notable support at 19.9368.
  • Mexico TIIE Swaps Curve bear steepening in line with US yields:
    • 1-yr +7 bps at 5.88%
    • 2-yr +9 bps at 6.44%
    • 5-yr +11 bps at 7.12%
    • 10-yr +12 bps at 7.49%
    • 32-yr +14 bps at 8.1

MNI/Bloomberg