EURIBOR OPTIONS: Call fly buyer
ERM4 96.50/96.62/96.87c fly, bought for flat in 2k.
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EQUITIES: A new 23yr high for Cash Estoxx
- As noted, VGH4 now breaches that 4700.00 level, but finding some offers, VGH4 sold in over 5k at the top of the range.
- Looking further out, upside momentum would open to 4725.50 1.50 projection of the Nov 8 - 24 - 28 price swing.
- For Cash (SX5E) Gaps from 4655.27 up to 4667.50, prints a fresh 23yr high of 4683.23.
USDCAD TECHS: Bullish Outlook
- RES 4: 1.3661 High Nov 27
- RES 3: 1.3623 61.8% retracement of the Nov 1 - Dec 27 bear leg
- RES 2: 1.3608 High Dec 13
- RES 1: 1.3542/44 High Jan 17 / Feb 05 and bull trigger
- PRICE: 1.3516 @ 08:03 GMT Feb 6
- SUP 1: 1.3440/3359 20-day EMA / Low Jan 31 and key S/T support
- SUP 2: 1.3343 Low Jan 12
- SUP 3: 1.3288 Low Jan 5
- SUP 4: 1.3229 Low Feb 1
USDCAD traded high MOnday, starting the week on a bullish note and in the process tested key short-term resistance at 1.3542, the Jan 17 high. A clear break of this hurdle would confirm a resumption of the bull cycle that started Dec 27 and open 1.3623, 61.8% of the Nov 1 - Dec 27 bear leg. Key support to watch lies at 1.3343, Jan 12 low. A break would be a bearish development. First support lies at 1.3440, the 20-day EMA.
ECB: Commerzbank Look For ECB CES Inflation Gauges To Move Near Target
Commerzbank note that in her latest post-meeting press conference, ECB President Lagarde “pointed out that inflation expectations are "really coming in around our 2% target.” A day later, the 5-year SPF mean posted its largest quarterly decline on record. Today, there is a good chance that the Consumer Expectations Survey (CES) will show a similar pattern, with expectations back near target.”
