COMMODITIES: Bearish Oil Theme Intact
Apr-11 09:24
The trend condition in Gold remains bullish and this week’s rally confirms and reinforces this condition. The yellow metal has traded through $3167.8, the Apr 3 high, to resume the primary uptrend and trade to fresh all-time highs. A bearish theme in WTI futures remains intact and Wednesday’s rally from the day low is - for now - considered corrective. The move higher is allowing an oversold trend condition to unwind.
- WTI Crude down $0.12 or -0.2% at $59.8
- Natural Gas down $0.03 or -0.87% at $3.511
- Gold spot up $39.05 or +1.23% at $3217.3
- Copper up $7.2 or +1.66% at $440.55
- Silver up $0.07 or +0.23% at $31.2935
- Platinum up $6.63 or +0.71% at $940.82
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FOREX: FX Exchange traded Roll pace
Mar-12 09:17
Expiry Next Monday the 17th.
- EUR: 36%.
- GBP: 33%.
- JPY: 45% (above pace).
- CHF: 32%.
- CAD: 33%.
- AUD: 42%.
- NZD: 44% (above pace).
- SEK: 54% (above pace).
- NOK: 47% (above pace).
EURIBOR OPTIONS: Put fly buyer
Mar-12 09:12
ERJ5 97.6875/97.62/97.5625p fly, bought for 0.75 in 10k.
BUNDS: /SWAPS: Modest Bid On Green's Reaffirming Fiscal Position Fades
Mar-12 09:05
A modest bid in German bonds on the back of Habeck reaffirming the known stance of the Greens when it comes to debt brake reform.
- While the Greens continue to voice their well-documented concerns surrounding defence spending, the door to fiscal negotiations and a deal in the immediate term seems to remain open.
- That explains the limited market reaction in German paper, with the major futures contracts already back from their knee-jerk highs.
- Long end ASWS vs. 3-month Euribor similarly muted, widening by ~0.5bp before fading.
