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Testing support area

BUNDS
  • The German Bund is back at the lower end of this week's range, following a big 50 ticks move lower post the US supply Yesterday, which seems to be an overdone move, but likely helped by the lower liquidity, and by CPI longs caught offside.
  • Bund is now testing the initial area of interest at 131.76 (gap), following the UK GDP beat on the cash open.
  • Below the latter, eye 131.58, while resistance moves down to 132.39.
  • Today sees, France/Spain final CPIs, US PPI, prelim Michigan.
  • No speakers or supply are scheduled.

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