ITALY AUCTION RESULTS: BTP-ST / BTPei
| 1.75% May-24 BTP Short Term | 0.65% May-26 BTPei | 0.10% May-33 BTPei | |
| ISIN | IT0005499311 | IT0005415416 | IT0005482994 |
| Amount | E2.5bln | E750mln | E750mln |
| Previous | E2.5bln | E1bln | E1.25bln |
| Avg yield | 2.88% | 1.09% | 2.22% |
| Previous | 3.27% | -1.52% | 2.45% |
| Bid-to-cover | 1.60x | 1.55x | 1.57x |
| Previous | 1.70x | 1.44x | 1.31x |
| Price | 98.29 | 98.48 | 80.23 |
| Previous | 97.59 | 109.10 | 78.25 |
| Pre-auction mid | 98.278 | 98.401 | 80.156 |
| Previous | 97.575 | 109.080 | 78.210 |
| Previous date | 27-Sep-22 | 26-Apr-22 | 27-Sep-22 |
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USDCAD TECHS: Fresh Trend High
- RES 4: 1.3716 High Jun 26 2020
- RES 3: 1.3702 2.382 proj of the Aug 25 - Sep 7 - 13 price swing
- RES 2: 1.3651 61.8% retracement of the 2020 - 2021 bear leg
- RES 1: 1.3638 Intraday high
- PRICE: 1.3593 @ 10:09 BST Sep 26
- SUP 1: 1.3468/3358 Low Sep 23 / 21
- SUP 2: 1.3232 20-day EMA
- SUP 3: 1.3079 50-day EMA
- SUP 4: 1.2954 Low Sep 13
USDCAD maintains a clear bullish tone and the pair has traded higher again today. The extension reinforces bullish conditions and maintains the positive price sequence of higher highs and higher lows. Moving average studies are in a bull mode position, highlighting current market sentiment. Sights are set on 1.3651 next, a Fibonacci retracement. On the downside, initial firm support is at 1.3232, the 20-day EMA.
SONIA: New lows again
The huge moves in SONIA futures continue with new lows being hit, particularly at the front-end, with a terminal rate for Bank Rate of over 6.00% now being priced (6.25% close to being fully priced in around a year's time).
- Sep-22 down 66.3 ticks today at 96.49 - the low of the day.
- Dec-22 down 80.0 ticks today at 94.82 - low of the day.
- Sep-23 down 76.5 ticks today at 93.775 - day's low is 93.695.
AUDUSD TECHS: Resend - Trend Needle Still Points South
- RES 4: 0.6838 50-day EMA
- RES 3: 0.6747 High Sep 20
- RES 2: 0.6656 High Sep 23
- RES 1: 0.6550 Intraday high
- PRICE: 0.6523 @ 10:02 BST Sep 26
- SUP 1: 0.6484 Intraday low
- SUP 2: 0.6464 61.8% retracement of the 2020 - 2021 bull leg
- SUP 3: 0.6402 Low May 15 2020
- SUP 4: 0.6373 Low May 4 2020
AUDUSD has resumed its downtrend today. Last week’s move lower resulted in a break of support at 0.6682, the Jul 14 low and bear trigger. The break strengthens bearish conditions and maintains the broader bearish price sequence of lower lows and lower highs. This has opened 0.6451 next, a Fibonacci projection. Initial firm resistance has been defined at 0.6747, the Sep 20 high.
