EURUSD TECHS: Bull Cycle Accelerates
Apr-03 17:00
- RES 4: 1.1276 High Jul 18 ‘23
- RES 3: 1.1214 High Sep 25 2024 and a key resistance
- RES 2: 1.1188 0.764 proj of the Feb 28 - Mar 18 - 27 price swing
- RES 1: 1.1144 High Oct 1 2024 and intraday high
- PRICE: 1.1124 @ 15:54 BST Apr 3
- SUP 1: 1.0955 High Mar 18 and a recent breakout level
- SUP 2: 1.0785 20-day EMA
- SUP 3: 1.0733 Low Mar 27 and a key short-term support
- SUP 4: 1.0669 50-day EMA and a short-term pivot level
EURUSD has recovered from its recent lows and maintains a firmer tone. The pair has breached key short-term resistance at 1.0955, the Mar 18 high. Clearance of this level confirms a resumption of the uptrend and paves the way for a climb towards 1.1188 next, a Fibonacci projection. Moving average studies remain in a bull-mode position highlighting a dominant uptrend. Key trend support has been defined at 1.0733, the Mar 27 low.
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STIR: BLOCK Update: Dec'25 SOFR Ratio Put Spread
Mar-04 16:55
- Total 17,500 SFRZ5 96.12/96.50 3x2 put spds Blocked, 18.5 net ref 96.44 to -.435
- Elsewhere: +6,500 0QH5 97.12/97.62 call spds, 1.0 vs. 96.525/0.05%
- -15,000 SFRU5 96.25 calls, 27.0
US STOCKS: Early Equities Roundup: Sell First, Ask (Tariff) Questions Later
Mar-04 16:48
- Stocks continued to trade weaker at the start of the global trade war. Sell first, ask questions later as markets have yet to experience the impact of 25% US import tariffs against Canada & Mexico, 20% on China, not to mention agriculture products starting April 2.
- Currently, the DJIA trades down 686.31 points (-1.59%) at 42503.93 (lowest since mid-Jan'25), S&P E-Minis down 86.75 points (-1.48%) at 5774.5 (lowest since mid-Sep'24), Nasdaq down 205.3 points (-1.1%) at 18144.75 (lowest since early Oct'24).
- Financial and Consumer Discretionary sectors lead the broad based, carry over decline: banks and services led laggers in the former with Citigroup -7.52%, Bank of America -7.16%, Discover Financial Services -6.85%, Capital One -6.77%, KeyCorp -6.65% and Wells Fargo -6.65%.
- Aside from cruise lines whose stocks traded -7.0-7.5%, Best Buy fell 14.01% despite beating earnings estimates as tariffs are "highly likely" to raise costs BBY's CEO said. Meanwhile, Tesla fell -6.67% and GM declined 4.2%.
- On the positive side, Health Care and Consumer Staples resisted the sell-off. Molina Healthcare +3.42%, STERIS +2.60%, UnitedHealth Group +2.18% and Elevance Health +2.05% buoyed the Health Care Sector, while Walgreens Boots Alliance +6.09%, Hershey +2.34% and Dollar General +2.14% underpinned the Consumer Staples sector.
- Earnings expected after the close include: Crowdstrike Holdings, Ross Stores, Foot Locker, Campbell's, Abercrombie & Fitch, Brown-Forman Corp, Marvell Technology and Victoria's Secret.
TRUDEAU WILL ONLY CONSIDER EXPORT TAX IF THERE'S BROAD SUPPORT
Mar-04 16:43
- TRUDEAU WILL ONLY CONSIDER EXPORT TAX IF THERE'S BROAD SUPPORT
