Free Trial

Testing resistance

BUNDS
  • Bund extends gains post the Cash Govie open, as noted Yesterday, Treasuries were getting close to some key level in Futures and in Yield term.
  • German and US futures saw some notable volatile moves for that time of the day, around 1am UK time, albeit small in the bigger picture.
  • The overnight moves were seen alongside pressure on USD/JPY as Finance Minister Suzuki reiterated that Japan won't rule out any options to address excessive FX moves.
  • German final CPI came right inline, and the German contract extends gains since the cash open.
  • There's small resistance at 131.44, testing now, followed by 131.67, but most investors will look at 131.82 initially in Bund.
  • It is another quiet day on the data front, with no tier 1 data, French IP is the only one out of Europe, but unlikely to be a mover.
  • In the US Wholesales will be final reading.
  • SPEAKERS: Fed Bostic, Logan, Barr.

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.