EM CEEMEA CREDIT: Bank of Sharjah: New USD mandat
(BOSUH; - / - / BBB+)
"*MANDATE: BANK OF SHARJAH USD BENCHMARK REG S 5Y BOND" - BBG
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LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
| Date | Time | Country | Event |
| 08-Oct | 0700 | DE | Industrial Production |
| 08-Oct | 1130 | EU | ECB Elderson In Panel at Finance Conference |
| 08-Oct | 1700 | EU | ECB Lagarde Video Message at Werner Report Event |
| 09-Oct | 0700 | DE | Trade Balance |
| 09-Oct | --- | EU | ECB Lagarde & Cipollone at Eurogroup Meeting |
| 09-Oct | 1600 | EU | ECB Lane Roundtable at Irish Investment Managers Event |
| 10-Oct | 1000 | IT | Industrial Production |
| 10-Oct | --- | EU | ECB de Guindos at ECOFIN Meeting |
| 13-Oct | --- | EU | ECB Lagarde and Cipollone at IMF/World Bank Meetings |
| 14-Oct | 0700 | DE | Germany CPI (f) |
| 14-Oct | 0850 | EU | ECB Cipollone Speech on Digital Euro |
| 14-Oct | 1000 | DE | ZEW Current Expectations Index |
| 14-Oct | --- | EU | ECB Lagarde and Cipollone at G20 Meeting |
| 15-Oct | 0745 | FR | HICP (f) |
| 15-Oct | 0800 | ES | HICP (f) |
| 15-Oct | 0840 | EU | ECB de Guindos at Resolution Mechanism Conference |
| 15-Oct | 1000 | EU | EZ Industrial Production |
| 15-Oct | 1900 | EU | ECB de Guindos at Alantra Anniversary Event |
BOBL TECHS: (Z5) Trading Below Resistance
- RES 4: 118.170 Low Sep 10
- RES 3: 118.090 High Sep 17 and a key short-term resistance
- RES 2: 118.040 High Sep 18
- RES 1: 117.970 High Oct 6
- PRICE: 117.870 @ 05:46 BST Oct 8
- SUP 1: 117.630/470 Low Oct 1 / Low Sep 25
- SUP 2: 117.450 1.000 proj of the Sep 8 - 12 - 17 price swing
- SUP 3: 117.299 1.236 proj of the Sep 8 - 12 - 17 price swing
- SUP 4: 117.080 Low Sep 2 (cont.)
Recent gains in Bobl futures still appear corrective and the trend condition remains bearish. A price sequence of lower lows and lower highs is intact, and on the continuation chart moving average studies are in a bear-mode position, highlighting a dominant downtrend. Sights are on 117.450, a Fibonacci projection. On the upside, key short-term resistance is 118.090, the Sep 18 high. A move above this level would signal a potential reversal.
EURUSD TECHS: Corrective Cycle Extends
- RES 4: 1.1919 High Sep 17 and a bull trigger
- RES 3: 1.1820 High Sep 23
- RES 2: 1.1779 High Oct 1 and a key short-term resistance
- RES 1: 1.1723 20-day EMA
- PRICE: 1.1613 @ 06:10 BST Oct 8
- SUP 1: 1.1608 Low Sep 3
- SUP 2: 1.1574 Low Aug 27
- SUP 3: 1.1516 76.4% retracement of the Aug 1 - Sep 17 bull leg
- SUP 4: 1.1392 Low Aug 1 and bear trigger.
EURUSD is trading lower as the current corrective cycle extends. This week’s move down has resulted in a breach of the 50-day EMA, and support at 1.1646, the Sep 25 low. This paves the way for an extension towards 1.1574, the Aug 27 low. Note that moving average studies are in a bull-mode position highlighting a dominant medium-term uptrend. Initial firm resistance to watch is 1.1779, the Oct 1 high. A break of this level would signal a bull reversal.
