EMISSIONS: EU ETS Clears Higher, Stronger Participation
The latest EU ETS auction cleared at 85.47/ton CO2e, compared with the previous EU auction of 84.60/...
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GILT AUCTION RESULTS: 4.25% Jun-32 Gilt Tender
| 4.25% Jun-32 Gilt | Previous | |
| ISIN | GB0004893086 | |
| Amount | GBP0.75bln | GBP1.00bln |
| Avg yield | 4.109% | 4.206% |
| Bid-to-cover | 4.35x | 3.72x |
| Tail | 0.4bp | 0.2bp |
| Avg price | 100.798 | 100.250 |
| Low price | 100.775 | 100.236 |
| Pre-auction mid | 100.778 | 100.216 |
| Previous date | 11-Sep-25 |
COMMODITIES: Trend Set-Up in Gold Unchanged and Bullish
Short-term gains in WTI futures appear corrective - for now. Note that moving average studies are in a bear-mode position, highlighting a dominant downtrend. A resumption of the bear leg would open the key support and the bear trigger at $55.99, the Oct 20 low. Clearance of this level would resume the downtrend. Key short-term resistance to watch is $61.84, the Oct 24 high. A clear break of this hurdle would signal scope for a stronger correction. The trend condition in Gold is unchanged, the set-up remains bullish. The bear phase between Oct 20 and 28 appears to have been a correction and note that the recovery since Oct 28 signals the end of that corrective cycle. Key support to watch lies at the 50-day EMA, at $4037.3. Clearance of this EMA would signal scope for a deeper retracement. Sights are on key resistance and the bull trigger at $4381.5, the Oct 20 high.
- WTI Crude down $0.17 or -0.29% at $58.71
- Natural Gas down $0.08 or -1.55% at $4.836
- Gold spot up $13.32 or +0.32% at $4203.5
- Copper down $7.45 or -1.37% at $537.1
- Silver up $0.38 or +0.65% at $58.5407
- Platinum down $9.9 or -0.6% at $1644.15
EQUITIES: Eurostoxx Futures Holding Onto Gains, Targets Key Resistance at 5825
A bull cycle in Eurostoxx 50 futures remains intact and the contract is holding on to its recent gains. Price has recently cleared the 20- and 50-day EMAs, signalling scope for a stronger recovery. Sights are on 5742.40 next (pierced), 76.4% of the Nov 13 - 21 bear leg. Clearance of this price point would pave the way for an extension towards 5825.00, the Nov 13 high and a key resistance. First key support lies at 5626.00, the 50-day EMA. A bull cycle in S&P E-Minis remains intact and price is trading above the 20- and 50- day EMAs. Note that recent gains signal the likely end of the corrective cycle between Oct 30 and Nov 21. A continuation higher would highlight potential for a move towards the key resistance and bull trigger at 6953.75, the Oct 30 high. Key support lies at 6525.00, the Nov 21 low. First support is at 6802.68, the 20-day EMA.
- Japan's NIKKEI closed higher by 73.16 pts or +0.14% at 50655.1 and the TOPIX ended 0.61 pts higher or +0.02% at 3384.92.
- Elsewhere, in China the SHANGHAI closed lower by 14.557 pts or -0.37% at 3909.521 and the HANG SENG ended 331.13 pts lower or -1.29% at 25434.23.
- Across Europe, Germany's DAX trades higher by 83.21 pts or +0.35% at 24127.81, FTSE 100 lower by 2.36 pts or -0.02% at 9642.53, CAC 40 down 31 pts or -0.38% at 8077.55 and Euro Stoxx 50 down 4.34 pts or -0.08% at 5721.39.
- Dow Jones mini up 27 pts or +0.06% at 47820, S&P 500 mini up 3.5 pts or +0.05% at 6859, NASDAQ mini up 0.5 pts or +0% at 25664.25.
