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Stays close to the initial resistance

BUNDS
  • Bund is fairly steady going into the Cash open, once again although showing in the red in early trade, the contract trades close to the initial resistance noted at 135.18, which held Yesterday after printing a 135.17 high.
  • Small support moves up to 134.47, 134.17 but better is seen at 133.77.
  • The inline UK GDP provided very little in terms of Movement, and the contract even ignored the UK IP and Mfg beat, to go bid on the Cash open, more related to Cash buying interest.
  • Main focus will now turn to the US retail sales/IJC/IP.
  • US IJC saw an over reaction last week, and Consumer will again be watch with not only Retail Sales, but Walmart also reports today pre Market.
  • SPEAKERS: Fed Musalem (voter in 2025), Harker (voter in 2026).

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