GBPUSD TECHS: Bulls Remain In The Driver’s Seat
Apr-04 17:30
- RES 4: 1.3434 High Sep 26 ‘24 and a key resistance
- RES 3: 1.3305 High Oct 2 ‘24
- RES 2: 1.3274 High Oct 3 ‘24
- RES 1: 1.3207 High Apr 3
- PRICE: 1.2931 @ 16:49 BST Apr 4
- SUP 1: 1.2921 20-day EMA
- SUP 2: 1.2871 Low Mar 27 and key support
- SUP 3: 1.2788 50-day EMA
- SUP 4: 1.2679 Low Mar 4
Thursday’s gains in GBPUSD resulted in a break of resistance at 1.3015, the Mar 20 high, to confirm a resumption of the uptrend that started Jan 13. This maintains the bullish price sequence of higher highs and higher lows and note too that moving average studies remain in a bull-mode position, highlighting a dominant uptrend. The rally signals scope for a climb towards 1.3274, the Oct 3 ‘24 high. Key short-term support is 1.2871, the Mar 27 low.
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US TSYS: Tsys Dip on US Weighing Auto Tariff Pause on Canada & Mexico
Mar-05 17:03
- Treasury futures retreat after latest headlines US weighing auto tariffs on Canada and Mexico.
- Still off session lows the Jun'25 10Y contract trades -6 at 111-02 after vs. 110-27 low, still well inside technicals: resistance above at 112-01/02 (High Mar 4 / 1.382 proj of Jan 13-Feb 7-12 swing), support below at 110-23/110-00 (Low Feb 28 / High Feb 7).
- Curves still steeper: 2s10s +3.933 at 28.891, 5s30s +3.428 at 52.483.
GLOBAL: US Weighing Month Delay of Canada & Mexico Tariffs on Autos
Mar-05 17:03
- "*US WEIGHS ONE-MONTH DELAY OF CANADA, MEXICO TARIFFS ON AUTOS" (BBG)
- Bloomberg report that "The Trump administration is considering a one-month delay for automakers from newly imposed tariffs on Mexico and Canada, according to people familiar with the matter, as a temporary reprieve following pleas from industry leaders."
- Commerce Secretary Howard Lutnick has hinted in recent days that exceptions to the initial tariffs were under consideration. Earlier today, he stated that Trump was thinking about autos and USMCA-compliant categories for today's plan.
PIPELINE: Corporate Bond Update: $26B Mars 8Pt Jumbo, 8th Largest on Record
Mar-05 16:58
- Date $MM Issuer (Priced *, Launch #)
- 03/05 $26B Mars $2B 2Y +50, $3.25B 3Y +60, $4.5B 5Y +75, $2.75B 7Y +85, $5B 10Y +95, $2.75B 20Y +110, $4.75B 30Y +117, $1B 40Y +127
- 03/05 $1.5B Axon 5NC2, 8NC3
- 03/05 $1B *KommuneKredit WNG 5Y SOFR+44
- 03/05 $750M #Republic of Armenia 10Y 7.1%
- 03/05 $500M Acadia Health 8NC3
- 03/05 $500M Forestar Group 8NC3
