MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI BRIEF: Aussie Labour Market Tightens, Unemployment At 3.9%

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Price Signal Summary - Bearish Extension In Bunds

MARKET INSIGHT
  • In the equity space, S&P E-Minis remain firm following recent gains. The contract has this week briefly traded above the 50-day EMA, currently at 4184.37. A clear break of this average would strengthen short-term bullish conditions and signal scope for a climb towards key resistance at 4303.50, Apr 26/28 high. Gains are still considered corrective and the primary trend direction is down. First support to watch is 3960.50, May 26 low. The short-term outlook in EUROSTOXX 50 futures remain bullish following recent gains and the break above the 50-day EMA. Attention is on resistance at 3883.00, Apr 21 high and the key resistance at 3944.00, Mar 29 high. A break of the latter would strengthen bullish conditions. Short-term support has been defined at 3576.00, May 19 low. Initial support lies at 3720.30, the 20-day EMA.
  • In FX, EURUSD continues to trade below resistance at 1.0778. This is the top of a bear channel drawn from the Feb 10 high. The channel top marks a key short-term resistance where a break would highlight a strong bullish outlook. A reversal lower would open 1.0533 initially, the May 20 low. GBPUSD maintains a firmer short-term tone and the current corrective bull cycle is still in play. Attention is on key resistance at the 50-day EMA, at 1.2705 today. Initial firm support is at 1.2438, May 20 low. USDJPY is holding on to this week’s gains. The focus is on a climb towards 131.35, May 9 high and the bull trigger. Key short-term support has been defined at 126.36, May 24 low.
  • On the commodity front, Gold traded higher yesterday and is once again above the 20-day EMA. A firmer resistance however is at the 50-day EMA, which intersects at $1876.6 today. A break of the 50-day average is required to suggest scope for a stronger recovery. On the downside, a reversal lower would refocus attention on the key support and bear trigger at $1787.0, May 16 low. Initial support lies at $1828.6, Jun 1 low. In the Oil space, WTI futures remain in an uptrend. The contract this week cleared resistance at $116.43, the Mar 7 high and the former contract high. This confirms a resumption of the primary uptrend and opens the $120.00 handle, and potentially beyond. Initial firm support is seen at $110.18, the 20-day EMA.
  • In the FI space, Bund futures maintain this week’s softer tone and the contract continues to weaken. Price has traded below support at 150.97, May 9 low and a bear trigger. This signals a resumption of the primary downtrend and the continuation lower has exposed the psychological 150.00 handle. Initial firm resistance is at 153.39, the 20-day EMA.
Metals Technical AnalysisForeign Exchange Technical AnalysisMetals bulletFixed Income Technical AnalysisHomepagemarkets-real-timeCommoditiesEquitiesEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange BulletsEnergy Technical Analysis
Metals Technical AnalysisForeign Exchange Technical AnalysisMetals bulletFixed Income Technical AnalysisHomepagemarkets-real-timeCommoditiesEquitiesEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange BulletsEnergy Technical Analysis

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.