June 21, 2024 06:16 GMT
Main focus is on the PMIs today
BUNDS
- A very tight and steady 11 ticks range for Bund overnight as Desks await the main event of the Week, with PMIs set for release.
- Initial support noted at 131.97 has held this week, printed at 132.02 low Yesterday, and this remains, followed by 131.58.
- Resistance moves down to 132.94, followed by 133.21, and 133.48 (circa the April low in Yield).
- The decent UK retail sales beat and higher revision had no impact on the contract, although Cable did jump 12 pips on the release, but the data can be somewhat volatile, and as such, Bund is actually underpinned post cash open, at session high, while Cable has lacked upside momentum, with more emphasis on PMIs across the Globe today.
- There isn't much else in terms of Tier 1 data besides the PMIs to end the week.
- SPEAKERS: ECB Nagel and Simkus, but don't expect much besides the Data dependency.
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