Trial now
US EURODLR OPTIONS

BLOCK, Midcurve Puts

GBPUSD TECHS

Eyeing The Next Fibonacci Retracement

PIPELINE

$2B Micron 3Pt Launched

US EURODLR FUTURES

BLOCK, Sep'22/Blue Dec'24 Spd

EURUSD TECHS

Remains Below The 20-Day EMA

EQUITIES

Mixed Monday, But Outlook Turning More Positive

CABLE
MNI (London)
CABLE: Recovery off Tuesday's low of $1.2955(YTD low) touched a an opening
Europe high of $1.3043 Wednesday only to get shoved lower on pre UK CPI
positioning. A softer CPI release than had been forecast added the weight to
take the reactive sell off to $1.2986, some suggested that this release added
fuel to thoughts of a rate cut at January's MPC meeting. However, the dip
attracted buyers which allowed rate to recover to $1.3039 in post fix trade,
holding these recovery gains into the close. Bank reports continue to suggest
that pricing in a cut at the Jan meeting could be premature, suggesting a
clearer picture to be seen on release of PMI's(flash PMI's Jan24, BOE MPC and
Inflation Report Jan30). Cable posted an opening high of $1.3058 in Asia then
settled between $1.3038-53 through the balance of the session. Early Europe
pressed rate to an extended intraday low of $1.3034, currently trading around
$1.3045 at writing.
- Support $1.3020, $1.3000, $1.2985. Resistance $1.3058, $1.3080,
$1.3088(falling trend rsst Dec13)
- A data light calendar for the UK Thursday. US data in focus.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com