US STOCKS: Boeing Shares Elevated But Off Highs
* Boeing shares remain elevated at 192.95 (+7.39, +3.97%) but off earlier high of 194.75 after Com...
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US TSY OPTIONS: Recent Flow Looking Mildly Bullish on Rates
- +5,000 TYM5 113.5/114.5 call spds, 14 ref 111-22.5
- +1,750 FVK5 108.75/110 1x3 call spds, 3.5
- -1,500 TUK5 103/103.5 3x2 put spds, 7 net ref 103-24.25 to -23.88
US: FED Reverse Repo Operation
RRP usage bounces to $156.911B this afternoon from $148.146B on Monday. Usage had surged to the highest level since December 31, 2024 last Monday, March 31: $399.167B. Compares to $58.770B (lowest level since mid-April 2021) on February 14. The number of counterparties at 34.
GBPUSD TECHS: Impulsive Corrective Pullback
- RES 4: 1.3274 High Oct 3 ‘24
- RES 3: 1.3207 High Apr 3 and the bull trigger
- RES 2: 1.3017 61.8% retracement of the Apr 3 - 7 sell-off
- RES 1: 1.2899 38.2% retracement of the Apr 3 - 7 sell-off
- PRICE: 1.2759 @ 16:28 BST Apr 8
- SUP 1: 1.2709 Low Apr 7
- SUP 2: 1.2669 2.0% 10-dma envelope
- SUP 3: 1.2654 50.0% retracement of the Jan 13 - Apr 3 bull cycle
- SUP 4: 1.2559 Low Feb 28
GBPUSD traded sharply lower Monday, extending the retracement from the Apr 3 high. For now, the sell-off appears corrective. Price has traded below the 50-day EMA - a concern for bulls - however, MA studies are in a bull mode position and this highlights a dominant uptrend. A recovery would open 1.2899 and 1.3017, Fibonacci retracement points. A move through Monday's 1.2709 low, would instead signal scope for a deeper retracement.
