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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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NASDAQ 100 futures have struggled on the back of the latest round of cheapening in the U.S. Tsy space, which isn't a surprise given the yield-sensitive nature of the index. The contract now sits ~6% shy of the all-time highs witnessed earlier this month.

  • From a technical perspective, the recent move below the 21- & 50-DMAs has extended, taking the contract below uptrend support drawn off the COVID lows witnessed in March '20 on a closing basis. Bulls will look to move back above the trendline before the end of the week.
  • Bears now eye the August 19 low (14,710.50), with any break there set to expose the July 19 low (14,445.00)

Fig. 1: NASDAQ 100 Futures (Continuation)

Source: MNI - Market News/Bloomberg