Free Trial

Trend Needle Points South


Fed Terminal Up To 5.06% in June 2023


Heading North


Late Dec/Mar Tsy Roll Level Update

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
  • In the equity space, S&P E-minis are still in a clear uptrend and traded higher yesterday just short of the next objective at 4591.25, the 1.00 projection of the Jul 19 - Aug 16 - Aug 19 price swing. Scope is also seen for a break of the 4600.00 handle. EUROSTOXX 50 futures also rallied yesterday and the focus is on key resistance at 4223.00, Sep 6 high. This also represents the bull trigger and a break would confirm a resumption of the broader uptrend and open 4290.50, 1.00 projection of the Jul 19 - Sep 6 - Oct 6 price swing.
  • In FX, EURUSD continues to consolidate with a slightly weaker tone dominating for now. From a short-term perspective, scope exists for an extension higher with the focus on the 50-day EMA at 1.1687. A key resistance also resides at 1.1716, a bear channel top drawn off the Jun 1 high. Initial support lies at 1.1572, Oct 18 low. GBPUSD is off its recent highs however short-term bullish conditions remain intact and corrections so far have been shallow. The focus is on 1.3913, Sep 14 high and a key resistance. Support to watch is at 3713, the 20-day EMA. USDJPY maintains a bullish tone despite this morning's selling pressure. Scope is seen for a climb towards 114.99, 1.50 projection of the Apr 23 - Jul 2 - Aug 4 price swing. Initial support is at 113.01, the 20-day EMA. A break is required to signal scope for a deeper corrective pullback.
  • On the commodity front, Gold spiked higher late last week and cleared $1800.6, Oct 14 high. Gains earlier this week highlight a short-term positive tone and attention is on $1834.0, the Sep 3 high. Key near-term support is at $1760.4, Oct 18 low. A break would alter the picture and instead suggest scope for a deeper pullback. WTI trend conditions are unchanged and remain bullish. $85.01, 1.00 projection of the Sep 21 - Oct 6 - 7 price swing has been probed. The focus is on $86.00 next. A key support to watch, following this morning's pullback is at $80.78, Oct 20 low.
  • In the FI space, trend conditions remain bearish and short-term gains are considered corrective. Bund futures sights are on 167.79, 2.50 projection of the Sep 9 - 17 - 21 price swing. Key resistance is at 169.92, Oct 14 high. Gilt futures path of least resistance remains down however a corrective bull cycle continues to play out this week. The next objective is 123.16, Feb 27, 2019 low (cont). Key resistance is unchanged at 125.27, the Oct 14 high.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.