CZK: Koruna Trades Flat Amid Lack Of Major Catalysts
Aug-14 09:41
EUR/CZK trades flat at 25.183 as local headline flow offers little in the way of impactful catalysts, leaving the koruna to oscillate within a tight range as market participants take stock of the current situation and monitor external developments. The technical picture remains more or less the same, with bulls looking to a renewed attack on recent cycle highs printed at 25.535. Meanwhile, a dip through the 50-DMA (25.122) and 100-DMA (25.075) would open up the 25.0 figure.
- CZGB yields are slightly lower across the curve, while the PX Index has added 0.6%.
- Looking ahead, Czechia will report July PPI data on Friday.
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EURIBOR OPTIONS: Z4/Z5 Call Package Trades
Jul-15 09:40
A little earlier: ERZ4 97.12 calls 40K sold vs. 0RZ4 98.00/98.25 call spread, package trades at 1.
EU-BOND AUCTION RESULTS: 3/15-Year EU-Bonds
Jul-15 09:40
| 2.875% Dec-27 EU-bond | 3.375% Oct-38 EU-bond | |
| ISIN | EU000A3K4EW6 | EU000A3K4D74 |
| Amount | E2.533bln | E1.9bln |
| Previous | E2.362bln | E1.703bln |
| Avg yield | 2.878% | 3.268% |
| Previous | 3.080% | 3.240% |
| Bid-to-cover | 1.07x | 1.44x |
| Previous | 1.91x | 1.30x |
| Avg Price | 99.992 | 101.180 |
| Low Price | 99.970 | 101.140 |
| Pre-auction mid | 99.975 | 101.101 |
| Prev avg price | 99.333 | 101.530 |
| Prev low price | 99.310 | 101.460 |
| Prev mid-price | 99.320 | 101.422 |
| Previous date | 27-May-24 | 04-Mar-24 |
EGBS: Bunds Off Intraday Highs After Overnight Gap Lower Retraced
Jul-15 09:40
Bund futures are off intraday highs, currently +14 ticks at 131.87. First resistance remains at 132.08 (July 11 high).
- EGB futures gapped lower overnight alongside Tsys in response to the weekend assassination attempt on former President Trump.
- However, European desks opted to retrace that move at the open, aided by a softer European equity backdrop.
- The German cash curve has bull steepened a little, although both 2s10s and 5s30s remain short of early-July highs.
- Eurozone May industrial production was slightly less weak than expected (-0.6% M/M vs -0.7% cons and -2.9% Y/Y vs -3.6% cons), but was not a market mover
- 10-year peripheral spreads to Bunds now trade a little tighter, after opening slightly wider.
- The ECB decision on Thursday headlines this week’s regional calendar, though no change in policy settings are expected.
