INDIA: Country Wrap: CPI Declines Further in July
Aug-13 05:18
* Overnight India released its CPI for July and whilst short of market expectations the drop sees ...
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LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
Jul-14 05:18
| Date | Time | Country | Event |
| 14-Jul | 1600 | EU | ECB Cipollone At EU Parliament |
| 15-Jul | 0800 | ES | HICP (f) |
| 15-Jul | 1000 | EU | Industrial Production |
| 15-Jul | 1000 | DE | ZEW Current Expectations Index |
| 16-Jul | 0900 | IT | HICP (f) |
| 16-Jul | 1000 | EU | Trade Balance |
| 17-Jul | 1000 | EU | HICP (f) |
| 17-Jul | ---- | EU | ECB Cipollone At G20 Meeting |
| 18-Jul | 0700 | DE | PPI |
| 18-Jul | 0900 | EU | EZ Current Account |
| 18-Jul | 1000 | EU | Construction Production |
| 18-Jul | ---- | EU | ECB Cipollone At G20 Meeting |
| 21-Jul | 1000 | EU | EZ Quarterly GDP Third Estimate |
| 22-Jul | 0900 | EU | ECB Bank Lending Survey |
| 23-Jul | 1500 | EU | Consumer Confidence Indicator (p) |
EURUSD TECHS: Corrective Cycle Still In Play
Jul-14 05:16
- RES 4: 1.1982 2.0% 10-dma envelope
- RES 3: 1.1923 2.000 proj of the Feb 28 - Mar 18 - 27 price swing
- RES 2: 1.1851 High Sep 10 2021
- RES 1: 1.1765/1829 High Jul 08 / 01 and the bull trigger
- PRICE: 1.1677 @ 07:16 BST Jul 14
- SUP 1: 1.1660/51 20-day EMA / Intraday low
- SUP 2: 1.1575 Low Jul 24
- SUP 3: 1.1495-day EMA
- SUP 4: 1.1446 Low Jun 19
A corrective cycle in EURUSD remains intact. The primary trend condition remains bullish with moving average studies continuing to highlight a dominant uptrend. Support to watch is 1.1660, the 20-day EMA. It has been pierced, a clear break of it would signal scope for a deeper retracement, potentially towards the 50-day EMA at 1.1495. For bulls, a resumption of gains would signal scope for a climb to 1.1851, the Sep 10 2021 high.
JGBS: Bear-Steepening As Upper House Elections Approach
Jul-14 05:11
JGB futures are sharply weaker and hovering near session lows, -46 compared to settlement levels.
- (Bloomberg) " The Bank of Japan finished selling millions of dollars of stocks it bought from besieged banks, ending a nearly two decade process. The BOJ's holdings of the shares purchased from banks hit zero as of July 10, falling from 2.5 billion 10 days ago, according to its balance sheet report."
- "JAPAN RULING BLOC MAY LOSE MAJORITY IN ELECTION: JNN ANALYSIS" – BBG
- Cash US tsys are slightly cheaper, with a steepening bias, in today's Asia-Pac session after Friday's bear-steepener.
- Cash JGBs are flat to 4bps cheaper across benchmarks, with the 20-year leading. The benchmark 10-year yield is 6.4bps higher at 2.578% versus the cycle high of 2.605%.
- Swap rates are flat to 6bps higher, with a steeper curve. Swap spreads are tighter out to the 20-year and wider beyond.
- Tomorrow, the local calendar will be empty apart from 5-year Climate Transition supply.
