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Steady After Yesterday’s Strong Rally

US TSYS

TYH4 is currently trading at 110-12+, +0-02+ from NY closing levels.

  • According to MNI’s technicals team, the focus is on 110-25, a Fibonacci projection, whilst initial key support has been defined at 108-18+ (Nov 27 low).
  • Cash US tsys are dealing little changed so far in the Asia-Pac session, with local participants likely taking stock after recent strength. There has been little in the way of newsflow so far today.
  • China Official PMI data is due shortly. The market consensus for today's official manufacturing PMI is 49.8 (prior 49.5). The forecast range is 49.0 to 50.1. For the non-manufacturing or services side, the expectation is 50.9 (prior 50.6). The forecast range is 50.4 to 51.6. The composite PMI was 50.7 in Oct, there is no consensus expectation for this print.

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