EU COMMUNICATIONS: COMMUNICATIONS: Proximus Headline
PROXBB
Small in 0.05x though the name was recently downgraded at Moody’s and remains a hair above the downside pressure threshold on S&P’s negative outlook.
• “*PROXIMUS SELLS LUXEMBOURG MOBILE TOWERS TO INFRARED FOR €108M
• *PROXIMUS SAYS OVER 50% OF 2027 DIVESTMENT AMBITION COVERED” -BBG
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SILVER TECHS: Impulsive Bull Cycle
- RES 4: $36.050 - 2.236 proj of the Aug 8 - 26 - Sep 6 price swing
- RES 3: $35.226 - 61.8% of the 2011 - 2020 major bear leg
- RES 2: $35.167 - 2.00 proj of the Aug 8 - 26 - Sep 6 price swing
- RES 1: $34.903 - Intraday high
- PRICE: $34.623 @ 08:08 BST Oct 23
- SUP 1: $32.963 - High Oct 4
- SUP 2: $31.968/30.863 - 20- and 50-day EMA values
- SUP 3: $29.623 - Trendline support drawn from the Aug 8 low
- SUP 4: $27.686 - Low Sep 6
Bullish conditions in Silver remain intact and last Friday’s strong rally plus this week’s extension, reinforce the current trend set-up and confirm a resumption of the uptrend. The rally signals scope for a climb towards $35.167, a Fibonacci projection. Moving average studies remain in a bull-mode position, highlighting a dominant uptrend for now. Initial firm support lies at $31.968, the 20-day EMA.
MONTH-END EXTENSIONS: Citi Look For Fairly Large EUR & GBP Benchmark Extensions
Citi month-end index extension projections for the EUR & GBP BBG benchmark bond indices:
- Bloomberg Euro Treasury index +0.10 years, the second largest extension since January ‘23. The changes should be most supportive for BTPs on a weighted duration basis.
- Bloomberg Euro linker index +0.01 years (most supportive for SPGBei).
- Bloomberg Sterling gilts index should also extend by a relatively large +0.16 years, fourth-largest extension in a year.
- The UK linker index +0.01 years.
USDCAD TECHS: Holding On To Its Latest Gains
- RES 4: 1.4054 2.0% 10-dma envelope
- RES 3: 1.4000 Round number resistance
- RES 2: 1.3946 High Aug 5 and a key resistance
- RES 1: 1.3850 High Oct 21
- PRICE: 1.3823 @ 08:00 BST Oct 23
- SUP 1: 1.3747/3714 Low Oct 14 / 20-day EMA
- SUP 2: 1.3652 50-day EMA
- SUP 3: 1.3567 Low Oct 7
- SUP 4: 1.3473/3420 Low Oct 2 / Low Sep 25 and the bear trigger
The USDCAD trend outlook remains bullish and the pair is holding on to its latest gains. Price has traded through 1.3822, 76.4% of the Aug 5 - Sep 25 bear leg. A clear break of this level would reinforce a bullish theme and open 1.3946, the Aug 5 high and the next key resistance. Initial firm support to watch lies at 1.3702, the 20-day EMA. A pullback would be considered corrective and allow an overbought condition to unwind.
