ASIA: Coming Up In Asia Pac Markets On Thursday
Jun-04 21:12
| 2345BST | 0645HKT | 0845AEST | New Zealand Q1 Building Volumes |
| 0000BST | 0700HKT | 0900AEST | South Korea Q1 P GDP |
| 0000BST | 0700HKT | 0900AEST | South Korea Apr Current A/C |
| 0030BST | 0730HKT | 0930AEST | Japan Apr Labor Cash Earnings |
| 0050BST | 0750HKT | 0950AEST | Japan Weekly Offshore Investment Flows |
| 0200BST | 0900HKT | 1100AEST | New Zealand May ANZ Commodity Prices |
| 0200BST | 0900HKT | 1100AEST | Australia 2032 Inflation Linked Bond Sale |
| 0230BST | 0930HKT | 1130AEST | Australia Apr Trade Data |
| 0230BST | 0930HKT | 1130AEST | Australia Apr Household Spend |
| 0245BST | 0945HKT | 1145AEST | China May Caixin Services PMI |
| 0335BST | 1035HKT | 1235AEST | New Zealand 2029, 2035, 2054 Bond Sale |
| 0435BST | 1135HKT | 1335AEST | Japan 30yr Bond Sale |
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ASIA: Coming Up In Asia Pac Markets Tuesday
May-05 21:11
| 0200BST | 0900HKT | 1100AEST | New Zealand Apr ANZ Commodity Price |
| 0200BST | 0900HKT | 1100AEST | Australia to Sell 2054 Bond |
| 0230BST | 0930HKT | 1130AEST | Australia Mar Building Approvals |
| 0230BST | 0930HKT | 1130AEST | Australia Mar Household Spend |
| 0245BST | 0945HKT | 1145AEST | China Apr Caixin Services PMI |
| 0245BST | 0945HKT | 1145AEST | China Apr Caixin Composite PMI |
| 0335BST | 1035HKT | 1235AEST | New Zealand Bill Sale |
USDCAD TECHS: New Cycle Low
May-05 20:00
- RES 4: 1.4415 High Apr 1
- RES 3: 1.4296 High Apr 7
- RES 2: 1.4076 50-day EMA
- RES 1: 1.3923 20-day EMA
- PRICE: 1.3821 @ 15:09 BST May 5
- SUP 1: 1.3760 Low Apr 21 and the bear trigger
- SUP 2: 1.3744 76.4% retracement of Sep 25 ‘24 - Feb 3 bull run
- SUP 3: 1.3696 Low Oct 10 2024
- SUP 4: 1.3643 Low Oct 9 ‘24
The trend needle in USDCAD continues to point south. A fresh cycle low on Friday reinforces the bearish theme signalling scope for a continuation, near-term. Potential is seen for a move towards 1.3744, a Fibonacci retracement. Moving average studies are in a bear mode position, highlighting a dominant downtrend. First resistance to watch is 1.3923, the 20-day EMA.
US TSYS: Focus Remains on Midweek FOMC, ISM Service 2Y Highs
May-05 19:32
- Treasuries look to finish lower Monday, off late session lows as rates bounced in reaction to reversal in stocks that had been climbing steadily off early session lows.
- Generally quiet session on lighter volumes (TYM5 <1M) with multiple Spring holidays around the globe: Japan, China, HK, South Korea, as well as the UK, EU is open however.
- Focus on Wednesday's FOMC rate annc at 1400ET. The FOMC is expected to extend its series of rate holds to a third meeting in May, keeping the Fed funds target rate at 4.25-4.50% while maintaining its forward guidance in the Statement.
- Treasury futures gap lower after higher than expected ISM Services data - climbing to the highest levels since January 2023 (51.6 from 50.8 vs 50.2 est; Employment Index 49.0 Vs Mar 46.2; New Orders Index 52.3 Vs Mar 50.4; Prices Index 65.1 Vs Mar 60.9.
- Jun'25 10Y currently -3 at 111-00 vs. 110-28.5 low (10Y yld at 4.3394%), through technical support at 110-30.5 (50-day EMA). A clear breach of this average would strengthen a bearish threat and expose 110-16+, the Apr 22 low.
- Cross asset: Still weaker BBG US$ index bounces to 1221.48 (-3.03); stocks weaker after paring losses all day: S&P eminis -20.5 at 5688.5.
