© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI China Daily Summary: Monday, October 23

MNI BRIEF: Inflation Down, Deficits Up - Bundesbank Report

MNI BRIEF: China To Reach Target of 5% GDP Growth - Lou Jiwei

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: Netherlands, UK, Germany Due Tues

BoC Data Watch

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

MNI BRIEF: Canada Needs CAD1 Trln To Fix Housing Squeeze- CMHC

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

Price Signal Summary - Bunds Remain Vulnerable

OUTLOOK
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income NewsForeign Exchange News
  • In the FI space, Bund futures remain vulnerable. Last week’s move lower resulted in a break of support at 131.18, the Aug 28 low. The move down undermines the recent bullish theme and signals scope for a deeper retracement. Furthermore, the contract has breached support at 130.71, the Aug 23 low. A continuation would expose 129.72, the Aug 15 low and a key support. Key resistance is at 132.91, the Aug 8 high.
  • The short-term outlook in Gilt futures remains bearish, despite the latest recovery. A move lower earlier last week resulted in a break of support at 94.14, the Aug 29 low. The breach undermines the recent bullish theme and highlights potential for a deeper retracement with next key support at 93.12, the 61.8% retracement of the Aug 17 - Sep 1 rally. On the upside, key short-term resistance is 95.79, the Sep 1 high. Clearance of this level would reinstate a bullish theme.
154 words

To read the full story

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, Bund futures remain vulnerable. Last week’s move lower resulted in a break of support at 131.18, the Aug 28 low. The move down undermines the recent bullish theme and signals scope for a deeper retracement. Furthermore, the contract has breached support at 130.71, the Aug 23 low. A continuation would expose 129.72, the Aug 15 low and a key support. Key resistance is at 132.91, the Aug 8 high.
  • The short-term outlook in Gilt futures remains bearish, despite the latest recovery. A move lower earlier last week resulted in a break of support at 94.14, the Aug 29 low. The breach undermines the recent bullish theme and highlights potential for a deeper retracement with next key support at 93.12, the 61.8% retracement of the Aug 17 - Sep 1 rally. On the upside, key short-term resistance is 95.79, the Sep 1 high. Clearance of this level would reinstate a bullish theme.