MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

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

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

TECHS: Price Signal Summary - Equity Bulls Still In Charge

MARKET INSIGHT
  • In the FX space:
    • EURUSD, has this week found support at 1.1836, Tuesday's low. Gains are considered corrective however, the move above 1.1952, Feb 5 low does signal scope for a stronger short-term recovery with attention on 1.2024, the 20-day EMA. Today's move lower though also highlights support at 1.1836, a break would resume the downtrend.
    • USDJPY remains in an uptrend. The focus is on 109.56, 61.8% of the Mar 2020 - Jan downleg and an important pivot resistance. Support is seen at 107.82 Mar 5 low.
      • The trend is overbought and this is being monitored. Price has yet to display a reversal though and signal a top.
  • On the commodity front, a bullish engulfing candle in Gold Tuesday suggests a potential short-term base at $1676.9, Monday's low. The focus is on the 20-day EMA at $1750.4. The yellow metal is softer today. A break of $1676.9 is needed to resume the downtrend instead. Oil contracts remain below Monday's high and appear to have entered a corrective phase. Brent (K1) weakness would open $65.04, the 20-day EMA. The bull trigger is at $71.38, Mar 8 high. In WTI (J1) a deeper pullback would open $61.92, the 20-day EMA. Key resistance is at $67.98, Mar 8 high.
  • In the FI space, BTP futures (M1) rallied yesterday. A break of 150.69, 76.4% retracement of the Feb 12 - 26 sell-off is needed to further strengthen a bullish argument. In Bunds (M1), the resistance to watch today is 172.30, yesterday's high and in Gilts (M1), 129.27, Mar 2 high remains the key near-term resistance. A breach of these hurdles would signal scope for a stronger short-term recovery.
  • In the equity space, bulls managed to deliver fresh trend highs in the E-mini S&P futures yesterday. The bull trigger is at yesterday's high of 3949.00. A break would open the psychological 4000.00 level.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed 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.