EM CEEMEA CREDIT: Dubai Islamic Bank: New USD deal
(DIBUH; A3/NR/A)
"IPT: Dubai Islamic Bank $Benchmark SLB Sukuk +120bp Area" - BBG
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BOBL TECHS: (Z5) Rally Exposes Key Resistance
- RES 4: 118.550 Low Jun 5 (cont.)
- RES 3: 118.455 50.0% of the Apr 7 - Aug 15 bear leg (cont.)
- RES 2: 118.400 High Sep 8 / 10 and key resistance
- RES 1: 118.310 High Oct 10
- PRICE: 118.180 @ 06:13 BST Oct 13
- SUP 1: 117.901 20-day EMA
- SUP 2: 117.710 Low Oct 6
- SUP 3: 117.630 Low Oct 1
- SUP 4: 117.470 Low Sep 25 and a key support
A strong rally in Bobl futures on Friday reinforces the current bull cycle that started Sep 25. The break higher exposes the next key resistance at 118.400, the Sep 8 and 10 high, where a break would also strengthen a bullish condition. On the downside, support lies at 117.901, the 20-day EMA. A breach of this average is required to signal a possible reversal. This would open 117.710, the Oct 6 low.
EQUITY TECHS: E-MINI S&P: (Z5) Corrective Pullback
- RES 4: 6850.87 1.618 proj of the Aug 1 - 15 - 20 price swing
- RES 3: 6831.38 2.500 proj of the Aug 20 - 28 - Sep 2 price swing
- RES 2: 6819.25 1.500 proj of the Aug 1 - 15 - 20 price swing
- RES 1: 6705.18/6812.25 20-day EMA / High Sep 9
- PRICE: 6679.50 @ 06:15 BST Oct 13
- SUP 1: 6598.55 50-day EMA
- SUP 2: 6540.25 Low Sep 10 and a key short-term support
- SUP 3: 6506.50 Low Sep 5
- SUP 4: 6427.00 Low Sep 2
A sharp sell-off in S&P E-Minis on Friday is - for now - considered corrective. The contract has found support below the 50-day EMA, currently at 6598.55. Friday’s low of 6940.25 has been defined as a key short-term support. Note that moving average studies remain in a bull-mode position, highlighting a dominant uptrend. The bull trigger is 6812.25, the Sep 9 high. A breach of this hurdle would confirm a resumption of the uptrend.
LOOK AHEAD: UK Timeline of Key Events (Times BST)
| Date | Time | Period | Event |
| 13-Oct | 1205 | --- | BOE Greene at Society of Professional Economists |
| 13-Oct | 2010 | --- | BOE Mann in MonPol Panel |
| 14-Oct | 0001 | Sep | BRC-KPMG Shop Sales Monitor |
| 14-Oct | 0700 | Aug/Sep | Labour Market Report |
| 14-Oct | 1300 | BOE Taylor Fireside Chat at University of Cambridge | |
| 14-Oct | 1800 | --- | BOE Bailey at Institute of International Finance |
| 15-Oct | 0900 | --- | BOE Ramsden Panel at Resolution Mechanism Conference |
| 15-Oct | 1645 | --- | BOE Breeden in Panel on Financial Regulation |
| 15-Oct | 1900 | --- | BOE Breeden in Panel at Fintech Foundation |
| 16-Oct | 0700 | Aug | GDP / Services / Production / Trade / Construction |
| 16-Oct | 0930 | Q3 | BOE Credit Conditions Survey |
| 16-Oct | 1400 | --- | BOE Mann in Panel on MonPol and Trade Shocks |
| 16-Oct | 1545 | --- | BOE Mann in MonPol Panel at IMF/World Bank Meetings |
| 16-Oct | 1930 | --- | BOE Greene in Panel on UK/EU Relations |
| 17-Oct | 1035 | --- | BOE Pill Speech at Institute of Chartered Accountants |
| 17-Oct | 1200 | --- | BOE Greene Roundtable at Atlantic Council |
| 17-Oct | 1730 | --- | BOE Breeden in Panel at IMF/World Bank Meetings |
