EGBS: Bunds Track USTs Higher; Initial Resistance Untested
Aug-20 15:32
Bund futures have tracked USTs higher through the afternoon, with aforementioned support coming from...
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FED: US TSY 13W BILL AUCTION: HIGH 4.240%(ALLOT 25.24%)
Jul-21 15:32
- US TSY 13W BILL AUCTION: HIGH 4.240%(ALLOT 25.24%)
- US TSY 13W BILL AUCTION: DEALERS TAKE 31.23% OF COMPETITIVES
- US TSY 13W BILL AUCTION: DIRECTS TAKE 6.65% OF COMPETITIVES
- US TSY 13W BILL AUCTION: INDIRECTS TAKE 62.11% OF COMPETITIVES
- US TSY 13W BILL AUCTION: BID/CVR 2.98
FED: US TSY 26W BILL AUCTION: HIGH 4.115%(ALLOT 81.60%)
Jul-21 15:32
- US TSY 26W BILL AUCTION: HIGH 4.115%(ALLOT 81.60%)
- US TSY 26W BILL AUCTION: DEALERS TAKE 27.34% OF COMPETITIVES
- US TSY 26W BILL AUCTION: DIRECTS TAKE 11.02% OF COMPETITIVES
- US TSY 26W BILL AUCTION: INDIRECTS TAKE 61.64% OF COMPETITIVES
- US TSY 26W BILL AUCTION: BID/CVR 3.06
FOREX: USD Fade Persists, Looking Through Equity Bounce
Jul-21 15:17
Renewed losses for the dollar push through with the WMR fix cleared. EUR/USD making headway above 1.17 at typing, while GBP/USD tops 1.3500.
- Drivers here remain the same - the bull flatter US curve anticipating the nearing deadlines for reciprocal tariff deals and expected EU retaliation against US trade measures. Nonetheless, this USD fade is coming on lighter-than-usual volumes: EUR and GBP futures have seen cumulative activity ~20% below average for this time of day, with the Japanese market holiday likely a contributor here.
- Equities are proving resilient, however, with the USD weakening as the e-mini S&P faded, and weakening further still as equities rallied after the cash open.
- Also of note, USD/CNH has now shown through the uptrendline drawn off the early July low and is set for a strong negative close. This opens 7.1687 support ahead of 7.1657.
