EQUITY TECHS: E-MINI S&P TECHS: (M4) Fresh Cycle Highs
Jun-12 06:29
- RES 4: 5490.62 2.382 proj of the Apr 19 - 29 - May 2 price swing
- RES 3: 5462.77 2.236 proj of the Apr 19 - 29 - May 2 price swing
- RES 2: 5417.75 2.00 proj of the Apr 19 - 29 - May 2 price swing
- RES 1: 5400.00 Round number resistance
- PRICE: 5390.25 @ 07:17 BST Jun 12
- SUP 1: 5311.70/5205.50 20-day EMA / Low May 31 and key support
- SUP 2: 5155.75 Low May 6
- SUP 3: 5099.25 Low May 3
- SUP 4: 5036.25 Low May 2
The uptrend in S&P E-Minis remains intact and the contract is trading higher today. Price has recently cleared 5368.25, the May 23 high and bull trigger. The move confirmed a resumption of the uptrend. A continuation higher would signal scope for a climb towards the 5400.00 handle next. On the downside, key short-term support has been defined at 5205.50, the May 31 low. Clearance of this level is required to signal a short-term reversal.
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USD: NZD underperforms into the EU session
May-13 06:23
- The Dollar is overall closer to flat going into US CPI week, small underperformer was and still is the Kiwi going into the European session, following a fall in 1yr, 2yr Inflation expectations in New Zealand.
- NZDUSD is still off the lows, after finding some demand at the 0.6000 mark overnight, but better support will be seen at 0.5981 initially.
- EUR, GBP, CHF, CAD, JPY, NOK and AUD are all closer to flat in G10s, and within ranges.
RATINGS: Affirmations Across The Board On Friday
May-13 06:22
Sovereign rating reviews of note from after hours on Friday include:
- Fitch affirmed Poland at A-; Outlook Stable
- Moody's affirmed Israel at A2, Outlook Negative
- S&P affirmed Poland at A-; Outlook Stable
- Morningstar DBRS confirmed Luxembourg at AAA, Stable Trend
- Morningstar DBRS confirmed Poland at A, Stable Trend
BUNDS: It's a busier week ahead
May-13 06:09
- It's a busier week ahead on the data front, which will start from tomorrow.
- Bund and Treasuries have seen lighter volume overnight, with most desks likely on the sidelines, with the US CPI (wed) at the forefront.
- German Bund remains close to Friday's low, with the initial support area still seen at 130.66/130.50, where it was trading pre NFP, and Friday's NFP low.
- Resistance moves up to 131.40, followed 131.87, with the latter holding last week. Japan reducing their Bond purchase, which helped Japanese Yields higher, have had no real impact in EGBs nor Treasuries.
- It's a slow start to the week on the data front, with only Portugal final CPI, and NY Fed 1y inflation expectation.
- SPEAKERS: Fed Mester and Jefferson discuss CB communications.
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