OIL PRODUCTS: China Traffic Congestion Eases Ahead of New Year’s Day: BNEF
Jan-03 10:47
China’s road traffic congestion in China’s 15 key cities fell 18.2 percentage points in the seven days to Jan. 1, BNEF said.
- Traffic levels fell to 127.8 of Jan 2021 levels.
- The trend shows a consistent decline throughout the week, likely caused by reduced travel demand in the run-up to the New Year holiday, BNEF added. There was then a slight rebound on New Year’s Eve before another retreat on New Year’s day.
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OUTLOOK: Price Signal Summary - S&P E-Minis Bull Cycle Extends
Dec-04 10:45
- The S&P E-Minis contract maintains a bullish tone and has again traded to a fresh cycle high, today. This confirms a resumption of the uptrend and signals scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on the 6100.00 handle next. Initial support to watch lies at 5979.30, the 20-day EMA.
- EUROSTOXX 50 futures have traded higher this week and the contract is holding on to its recent gains. The latest move higher undermines a recent bearish theme. Price has traded through the 50-day EMA, at 4862.20. The clear breach of this average strengthens a bullish theme and signals scope for a stronger recovery, opening 4961.00, the Nov 6 high. Key support lies at 4699.00, the Nov 19 low. A break of it would resume the recent bear cycle. Initial support is 4821.68, the 20-day EMA.
PORTUGAL T-BILL AUCTION RESULT: 5/12-month BT Results
Dec-04 10:43
| Type | 5-month BT | 12-month BT |
| Maturity | May 16, 2025 | Nov 21, 2025 |
| Amount | E750mln | E500mln |
| Target | E1.25-1.50bln | Shared |
| Previous | E250mln | E750mln |
| Avg yield | 2.646% | 2.344% |
| Previous | 3.161% | 2.666% |
| Bid-to-cover | 1.84x | 3.11x |
| Previous | 4.72x | 2.77x |
| Previous date | Sep 18, 2024 | Oct 16, 2024 |
GERMAN AUCTION RESULTS: 2.60% Aug-34 Bund Results
Dec-04 10:32
| 2.60% Aug-34 Bund | Previous | |
| ISIN | DE000BU2Z031 | |
| Total sold | E3.5bln | E4bln |
| Allotted | E2.866bln | E3.346bln |
| Avg yield | 2.07% | 2.38% |
| Bid-to-offer | 1.96x | 1.89x |
| Bid-to-cover | 2.40x | 2.26x |
| Average Price | 104.61 | 101.89 |
| Low acc. Price | 104.59 | 101.88 |
| Pre-auction mid | 104.552 | 101.825 |
| Previous date | 13-Nov-24 |
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