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SILVER TECHS

Bullish Extension

GOLD TECHS

Heading North

WTI TECHS

(M1) Needle Still Points North

BRENT TECHS

(N1) Bullish Conditions Remains Intact

EONIA
EONIA: The front end of the Eonia curve is little changed in early Friday
morning trading compared to Thursday's close as German 2nd estimate of Q2 GDP
comes in unrevised at 0.6% q/q and markets look ahead to comments from Fed Chair
Yellen and ECB President Draghi at Jackson Hole. Before then there are German
IFO numbers at 0800GMT with expectations seen slipping to 106.8 from 107.3.
Market calculates around a 7.5% chance of a 10bp rate hike in Mar 2018, and only
rising to 25.5% in June 2018. MNI see 1y/1y Eonia 0.1bp lower at -25.8bp &
following levels in ECB forward dated Eonia.
- Sep-17 0.1bp lower at -0.354%
- Oct-17 unchanged at -0.353%
- Dec-17 0.1bp lower at -0.351%
- Jan-18 0.1bp lower at -0.355%
- Mar-18 unchanged at -0.351%
- Apr-18 unchanged at -0.350%
- Jun-18 unchanged at -0.335%
- Jul-18 unchanged at -0.333%