CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

TECHS: Price Signal Summary - Sterling Still Vulnerable

MARKET INSIGHT
  • Cable remains vulnerable following yesterday's volatile price action. The pair cleared support at 1.3288, Dec 2 low and traded below the 20-day EMA. Further weakness would expose 1.3196, Nov 19 low and 1.3171 50-day EMA.
  • EURGBP technical readings remain bullish. Stronger gains would open 0.9162, Oct 7 high. Last week's break of trendline resistance drawn off the Sep 11 high continues to highlight a bullish technical theme. Key support lies at 0.8963, the former trendline resistance.
  • The USD remains on the backfoot. EURUSD pullbacks are considered corrective. Support is at 1.2040, Dec 2 low. Scope is for a climb towards 1.2184, 1.382 projection of the Nov 4 - 9 rally from the Nov 11 low
  • PM and Oil outlook still bullish.
    • Gold traded higher yesterday. The yellow metal is challenging the 50-day EMA at $1869.8 where a clear break would open the $1888.9 level.
    • Brent (G1) dips are considered corrective. Bullish objectives are set at $50.00 and $50.45, 61.8% of Jan - Apr sell-off (cont). WTI (F1) bulls eye $48.07, 0.764 projection of the Apr - Aug rally from the Nov 2 low.
  • FI technical conditions have improved for bulls.
    • Bund (H1) resistance remains 178.10, Nov 30 high.
    • Gilts (H1) key resistance is 134.70, Nov 20 high and the key support is at 133.52, Dec 2 low.
    • Treasuries (H1) support and downside trigger lies at 137-07+, Dec 4 low.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.