The 1.02GW BritNed power link between the UK and the Netherlands had an unplanned outage on Thursday...
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Set for a steadier open:
Modest dovish adjustments in GBP STIRs vs. settlement levels, with Bunds & Tsys firming overnight.
BoE Meeting | SONIA BoE-Dated OIS (%) | Difference vs. Current Effective SONIA Rate (bp) |
Aug-25 | 4.011 | -20.6 |
Sep-25 | 3.935 | -28.2 |
Nov-25 | 3.759 | -45.9 |
Dec-25 | 3.659 | -55.8 |
Feb-26 | 3.519 | -69.8 |
Mar-26 | 3.477 | -74.0 |
The trend condition in S&P E-Minis is unchanged, it remains bullish and the contract has started this week on a firm note. Short-term resistance and a bull trigger at 6128.75, the Jun 11 high, has recently been breached. The clear break confirms a resumption of the uptrend that started Apr 7. The 6200.00 handle has been cleared too, this opens 6277.50, the Feb 21 high and bull trigger. Key support is at the 50-day EMA - at 5964.66.