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Testing the small opening gap

BUNDS
  • A light, tight overnight range for Bund, and a 30 ticks range into the cash open.
  • Although the contract is flat, it is still trading at its lowest level since the start of November.
  • Further downside extension, sees support at 135.42, ahead of the 135.00 figure.
  • Small resistance is at 135.96 (gap), and a clear break above the latter, opens back to 136.56.
  • There's no tier 1 data for Europe, and on the other side of the Atlantic, Canadian CPI is the notable release.
  • SUPPLY: US sells $12bn of 20yr reopening.

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