May 24, 2024 06:16 GMT
Near session low into the Cash open.
BUNDS
- Bund remains heavy as investors price lesser Rate cut into Year end, with the latest leg lower in futures led by the PMIs, a big beat for the US.
- German final GDP was inline, while the Volatile big miss in UK Retail Sales provided a 5 ticks Algo swing, but the German 10yr stays offered into the Cash open.
- The contract was close to break its June contract low, which is situated at 129.53, printed a 129.71 low Yesterday.
- This level will be the initial support and a break below, will open to Yield levels.
- Resistance moves down to 130.47.
- There are no Tier 1 data left out of Europe, French Mfg Confidence and Spanish PPI won't move the needle.
- Out of the US sees, prelim Durable Goods, final Michigan.
- SPEAKERS: ECB Schnabel, Vasle, Muller, de Cos, Centeno, Germany Linder, Fed Waller, but unlikely to hear anything new.
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