LOOK AHEAD: Eurozone Timeline of Key Events (UK Time)
| Date | Time | Country | Event |
| 02-Nov | 0815 | ES | S&P Global Manufacturing PMI (f) |
| 02-Nov | 0845 | IT | S&P Global Manufacturing PMI (f) |
| 02-Nov | 0850 | FR | S&P Global Manufacturing PMI (f) |
| 02-Nov | 0855 | DE | Unemployment / S&P Global Manufacturing PMI (f) |
| 02-Nov | 0900 | EU | S&P Global Manufacturing PMI (f) |
| 02-Nov | 1100 | EU | ECB's Lane lectures on EZ monetary policy |
| 02-Nov | 1730 | EU | ECB's Schnabel presentation at Fed St Louis |
| 03-Nov | 0700 | DE | Trade Balance |
| 03-Nov | 0745 | FR | Industrial Production |
| 03-Nov | 1000 | EU | Unemployment |
| 06-Nov | 0700 | DE | Manufacturing Orders |
| 06-Nov | 0815 | ES | S&P Global Services PMI (f) |
| 06-Nov | 0845 | IT | S&P Global Services PMI (f) |
| 06-Nov | 0850 | FR | S&P Global Services PMI (f) |
| 06-Nov | 0855 | DE | S&P Global Services PMI (f) |
| 06-Nov | 0900 | EU | S&P Global Services PMI (f) |
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BTP TECHS: (Z3) Oversold But Remains In A Downtrend
- RES 4: 113.84 High Sep 14
- RES 3: 112.52 High Sep 20
- RES 2: 111.40 20-day EMA
- RES 1: 110.52 High Sep 27
- PRICE: 109.41 @ Close Oct 2
- SUP 1: 108.08 Low Sep 28 and a bear trigger
- SUP 2: 107.08 2.236 proj of the Jun 26 - Jul 11 - 19 price swing (cont)
- SUP 3: 106.40 2.382 proj of the Jun 26 - Jul 11 - 19 price swing (cont)
- SUP 4: 105.85 2.50 proj of the Jun 26 - Jul 11 - 19 price swing (cont)
A sharp sell-off in BTP futures last Thursday reinforces bearish conditions. However, the contract is in oversold territory and price has recovered from last week’s low. A move higher is considered corrective and would allow the oversold condition to unwind. On the downside, the Sep 28 ‘22 low of 108.13 has been pierced - a major support. A break would open 107.08, a Fibonacci projection on the continuation chart. Resistance is at 110.52, the Sep 27 high.
USD: Another positive session.
- UD extends losses going into the EU Cash Govie open, as the Dollar remains king, and desks price higher for longer rates.
- Focus is right back on Yields, with the US 10yr testing again its highest level since 2007 Yesterday and today, but finding some resistance at the 4.70% mark.
- AUD test session low against the JPY, AUD and the EUR, while AUDUSD looks to break below the 0.6300 handle, ahead of support at 0.6272, the November low.
- USDJPY look to test the BIG 150.00 level, on the back of the elevated Yield, and the Globe will be wary of any potential intervention.
EURJPY TECHS: Watching Support
- RES 4: 160.66 2.382 proj of the May 11 - 29 - 31 price swing
- RES 3: 160.00 Psychological handle
- RES 2: 159.92 2.236 proj of the May 11 - 29 - 31 price swing
- RES 1: 158.65/159.76 High Sep 13 / High Aug 30 and the bull trigger
- PRICE: 156.87 @ 07:04 BST Oct 3
- SUP 1: 156.59 Low Sep 11 and a key support
- SUP 2: 156.35 Low Aug 8
- SUP 3: 155.54 Low Aug 3
- SUP 4: 154.61 61.8% retracement of the Jul 28 - Aug 30 rally
EURJPY is slightly weaker but continues to trade inside a range. The cross is below the 50-day EMA once again - at 157.21. A clear breach of it would undermine the uptrend and highlight a possible short-term reversal. This would expose 155.54, Aug 3 low. The bull trigger is unchanged at 159.76, Aug 30 high where a break would resume the uptrend and open 160.66, a Fibonacci projection. First resistance is 158.65, the Sep 13 high.
