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US NFP/AHE at the forefront today

BUNDS
  • Bund went bid on the cash open, following a big miss in German Factory orders, plus lower revisions for the data.
  • Although Bund opened with a small lower gap overnight as desk squared some of their longs in Asia ahead of the US NFP and AHE, the contract remains bid, on safer haven flow, investor's Banking credit risks concerns, and risk reward trades looking for a pause in rate hike outlook.
  • Resistance moves down to 136.77, followed by the 137.28 gap, which was nearly filled, after Bund printed a 137.22 high Yesterday.
  • With the German Data out of the way, Swiss CPI and French IP are the notable data on this side of the Atlantic, and on the other side of the Pond, US US NFP/AHE.
  • ECB also release their survey of Professional forecasters.
  • SUPPLY: Belgium 2032, 2034.
  • SPEAKERS: ECB Simkus, Elderson, Fed Bullard, Cook.
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