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USDCAD TECHS

Solid Bounce

AUDUSD TECHS

Reverses In Style

EURJPY TECHS

Accelerates Off Bull Trigger

USDJPY TECHS

Still Pointing Higher

EURGBP TECHS

Bouncing Well

GBPUSD TECHS

Bulls Press Pause

US TSYS SUMMARY
US TSYS SUMMARY: Tsy traded higher by the bell with volume (TYU 1.7M), curves
flatter; disconnect continues between the 10YY as it remains lower (-.0111,
2.9617) and US$/YEN remains higher (+.80, 111.84); US PCE, US Pers Inc, Pers
Spend, ECI all coming in line with expectations suggesting inf. is steady. MNI/
Chicago PMI much stronger than exp (65.5 JULY vs 62 Expected, 64.1 JUNE); US
Cons Conf stronger than exp (127.4 JULY vs 126 Exp); DXY stronger (+.144,
94.492); West Texas Crude (WTI -1.39, 68.74); Gold stronger (XAU +3.85, 1225.27)
-Headline out this morning "U.S., CHINA SAID TO SEEK RESTART OF TALKS TO DEFUSE
TRADE WAR"-BN led to risk on price action.
-Decent volume by midday belies rather muted trade since the open. Carry-over
support on narrow range, two-way flow after initial jump bid following BoJ
steady rate annc overnight. Deal-tied flow in the mix, Block buying Eurodollar
2Y bundles, Red packs, fast$ steepener unwinds, gamma hedging, position squaring
ahead Wed's FOMC (no rate change exp) and Fri's NFP (whisper +204k). Tsy
cash/ylds: 2Y 99-29 (2.669%), 5Y 99-18.75 (2.769%), 10Y 99-08 (2.962%), 30Y
100-25 (3.084%).