EQUITIES: EU Cash opening calls
Nov-15 07:54
- Estox 50: +0.27%.
- Dax: +0.19%.
- CAC: +0.22%.
- FTSE +0.82%.
- SMI -0.02%.
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SONIA: SONIA Call spread
Oct-16 07:38
SFIU4 96.50/97.00cs, bought for 5 in 2k.
USDCAD TECHS: Trend Structure Remains Bullish
Oct-16 07:32
- RES 4: 1.3934 2.0% 10-dma envelope
- RES 3: 1.3862 High Mar 10 and a key resistance
- RES 2: 1.3805 High Mar 24
- RES 1: 1.3786 High Oct 5 and the bull trigger
- PRICE: 1.3641 @ 08:3 BST Oct 16
- SUP 1: 1.3569 Low Oct 10
- SUP 2: 1.3539 50-day EMA
- SUP 3: 1.3417 Low Sep 29
- SUP 4: 1.3381 Low Sep 19 and a key support
The USDCAD trend outlook remains bullish and for now, the pair continues to trade above the 20- and 50-day EMAs. The 50-day average intersects at 1.3539 and marks a key short-term support. A clear break of this EMA would signal scope for a deeper correction. Attention is on resistance at 1.3786, the Oct 5 high. Clearance of this level would confirm a resumption of the uptrend and open 1.3862, the Mar 10 high.
GILTS: Goldman: BoE Now Less Data-Dependent, Further Curve Steepening Likely
Oct-16 07:31
Goldman Sachs note that “BoE chief Economist Pill indicated that the ‘finely balanced’ nature of future rate decisions means that markets should no longer expect sharp policy variation around near-term data surprises.”
- “This reinforces our view that the BoE will now be on hold, but does mean that volatility is now likely to travel further out the UK curve on macro data surprises.”
- “Further declines in wages and CPI this week would suggest a steeper curve, and with the BoE reticent to hike further, this skews the risks to the front-end lower.”
- “We think that asset swap tightening will continue to occur, however, which points to more downside risks to OIS forward yields than front-end Gilts.”
