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GOLD

Consolidates Above $1700 Ahead US CPI

AUSSIE BONDS

Bullock’s Comments & Firmer NZGBs Aid The Bid

US TSY OPTIONS

TYZ2 112.00 Calls Lifted

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(U2) Regaining Stability

JGB TECHS
  • RES 3: 151.13 - High Mar 3
  • RES 2: 150.44 - High Mar 14
  • RES 1: 150.14 - High Apr 1 and key resistance
  • PRICE: 149.15 @ 16:14 BST Jul 14
  • SUP 1: 147.54 - 3.0% Lower Bollinger Band
  • SUP 2: 147.15 - Low Jun 14
  • SUP 3: 146.82 - Low Jul 14 2015

JGBs continue to respect the recent range, however the bounce off last week’s lows has generally held, putting the recent highs back under pressure. Nonetheless, the broader outlook remains negative after JGB futures showed below the 1.0% 10-dma envelope for the first time since the depths of the COVID-19 crisis, touching 147.15 on the pull lower in mid-June. The next downside level crosses at 147.54, the 2.0% lower Bollinger Band ahead of 146.82 - the low from July 14th 2015.

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