EURUSD TECHS: Corrective Cycle Extends
Oct-08 17:00
- RES 4: 1.1919 High Sep 17 and a bull trigger
- RES 3: 1.1820 High Sep 23
- RES 2: 1.1779 High Oct 1 and a key short-term resistance
- RES 1: 1.1723 20-day EMA
- PRICE: 1.1615 @ 16:18 BST Oct 8
- SUP 1: 1.1606 Low Oct 8
- SUP 2: 1.1574 Low Aug 27
- SUP 3: 1.1516 76.4% retracement of the Aug 1 - Sep 17 bull leg
- SUP 4: 1.1392 Low Aug 1 and bear trigger.
EURUSD is trading lower as the current corrective cycle extends. This week’s move down has resulted in a breach of the 50-day EMA, and support at 1.1646, the Sep 25 low. The move paves the way for an extension towards 1.1574, the Aug 27 low. Note that moving average studies are in a bull-mode position highlighting a dominant medium-term uptrend. Initial firm resistance is 1.1779, the Oct 1 high. A break of this level would signal a bull reversal.
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OPTIONS: Put Spread Selling In Sonia, Put Strip Buying In Euribor Monday
Sep-08 16:52
Monday's Europe rates/bond options flow included:
- ERZ5 97.9375 put, ERZ5 97.875 put, ERH6 97.9375 put and ERM6 97.8125 put (put strip). Paper pays 4.25 for 2k
- ERH6 98.125/25 call spread, paper pays 4.25 for 4k
- SFIM6 97.25 calls, bought for 2.0 in 2.5k
- SFIZ5 96.15/96.05 1x2 put spread, paper sells for 3.0 in 3k
PIPELINE: Corporate Bond Update: $2B Home Depot Launched
Sep-08 16:16
- Date $MM Issuer (Priced *, Launch #)
- 09/08 $2.05B NCL Corp $1.025B each: 5.25NC2, 8NC3
- 09/08 $2B #Home Depot $500M 3Y +30, $500M 5Y +45, $1B 10Y +63
- 09/08 $1.75B #Duke Energy $1B 10Y +95, $750M 30Y +103
- 09/08 $500M #Puget Sound Energy WNG 30Y +88
- 09/08 $500M Millrose Properties 7NC3 65
- 09/08 $500M Antero Midstream 8NC3
- 09/08 $Benchmark Bank of Nova Scotia 3NC2 +75, 3NC2 SOFR, 6NC5 +100a, 6NC5 SOFR
- 09/08 $Benchmark Equitable America Global Funding 2Y +80a, 2Y SOFR, 7Y +115a
- 09/08 $Benchmark Hewlett Packard 2Y +85a, 3Y +95a, 3Y SOFR, 5Y +110a
- 09/08 $Benchmark Elevance 3Y +55, 7Y +80, +10Y +95, 30Y +110
- 09/08 $Benchmark Wells Fargo 4NC3 +90a, 4NC3 FRN, 11NC10 +115a
- 09/08 $Benchmark Korea Development Bank 5Y SOFR+68a
- 09/08 $Benchmark Capital One 6NC5 +92, 11NC10 +115
- 09/08 $Benchmark Ares Strategic Inc +3Y +185, +5Y +210a
- 09/08 $Benchmark Virginia Electric 10 +110a, 30Y +115a
- 09/08 $Benchmark Danske Bank 6NC5 +105a, 6NC5
- 09/08 $Benchmark Uber +5Y +90a, 10Y +110a
- 09/08 $Benchmark Westpac NZ 5Y +65
- 09/08 $Benchmark Denso 5Y inv calls
- 09/08 $Benchmark PIF 10Y +120a
SOFR OPTIONS: BLOCK: Mar'20 SOFR Calls
Sep-08 16:08
- 20,000 SFRH6 97.00 calls, 11.0 vs. 96.65/0.28% at 1158:51ET
