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Recovering from the lows

BUNDS
  • Bund is recovering from its overnight low, after gapping lower on the open, a continuation following the big US NFP beat, US Powell pre recorded interview Yesterday also pushed back on March rate cut move, which helped the US 10yr Yield towards the 4.10% Mark.
  • Some early focus will be in the 3 Month rates, ERH4 saw decent selling clips on the open, to push the contract to its lowest level since late November.
  • For Bund, support is at 134.31 (gap) and resistance at 135.09 (gap).
  • Today sees Global Services PMIs, but will be final reading for France, Germany, EU, UK and the US. US ISM is also scheduled.
  • SPEAKERS: Fed Goolsbee, Bostic, BoE Pill.

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