MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

Activity data stronger-than-expected; little impact on near-term monpol

MNI: GERMANY JUNE FINAL HICP +2.5 % M/M, +0.2% Y/Y

MNI: GERMAN JUN CPI +2.2 % Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - Bear Cycle In Gilts Remains In Play

OUTLOOK
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, the trend outlook in Bund futures is unchanged and remains bearish. The contract traded to a fresh cycle low yesterday, confirming once again a resumption of the downtrend. Key support at 131.23, the Feb 29 low, has recently been cleared. Sights are on 129.87, 1.382 projection of the Mar 8 - 18 - 27 price swing. On the upside, firm resistance is at 133.05, the Apr 12 high. Short-term gains would be considered corrective. First resistance is at 131.66, the 20-day EMA.
  • A bearish theme in Gilt futures remains intact. Yesterday’s break of support at 96.01, the Apr 17 low, confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Furthermore, moving average studies have recently crossed, highlighting a bear-mode set-up. Scope is seen for an extension towards 95.41 next, the 2.00 projection of the Mar 12 - 15 - 22 price swing. Initial firm resistance is 97.53, the 20-day EMA.
162 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • In the FI space, the trend outlook in Bund futures is unchanged and remains bearish. The contract traded to a fresh cycle low yesterday, confirming once again a resumption of the downtrend. Key support at 131.23, the Feb 29 low, has recently been cleared. Sights are on 129.87, 1.382 projection of the Mar 8 - 18 - 27 price swing. On the upside, firm resistance is at 133.05, the Apr 12 high. Short-term gains would be considered corrective. First resistance is at 131.66, the 20-day EMA.
  • A bearish theme in Gilt futures remains intact. Yesterday’s break of support at 96.01, the Apr 17 low, confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Furthermore, moving average studies have recently crossed, highlighting a bear-mode set-up. Scope is seen for an extension towards 95.41 next, the 2.00 projection of the Mar 12 - 15 - 22 price swing. Initial firm resistance is 97.53, the 20-day EMA.