CHILE: Goldman Sachs Comment on Reserve Accumulation Program
Aug-06 11:06
* While Goldman Sachs had anticipated that the central bank would eventually want to resume its re...
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SOFR OPTIONS: BLOCK: Oct'25 SOFR Call condor
Jul-07 11:03
- 5,000 SFRV5 96.12/96.18/96.31/96.43 broken call condors, 0.0 net ref 96.18 at 0634:55ET
US TSYS: Back From Holiday, Bonds Under Pressure, Midweek FOMC Minutes
Jul-07 10:59
- Treasuries looking mixed as US markets resume after extended 4th of July holiday, curves steeper with 10s to Bonds weaker vs mildly higher 2s-5s at the moment (2s10s curve +2.023 at 47.984, 5s30s +2.475 at 94.849), Tsy 10Y yield +.0079 at 4.3537% (4.3201 Low / 4.3556 High).
- At the moment, Sep'25 10Y contract trades -2 at 111-05 - recent overnight low, above key technical support at 110-31, the 50-day EMA, and the Jul 3 low. A clear break of this average would signal scope for a deeper correction and highlight a possible reversal.
- For bulls, a resumption of gains would open 112-15, the 61.8% retracement of the Apr 7 - 11 steep sell-off. Initial resistance is at 111-28, the Jul 3 high.
- No economic data or Fed speakers scheduled today, US Treasury will be auctioning $82B 13W & $73B 26W bills at 1130ET.
- Relatively light data calendar compared to last week, focus is on the release of FOMC minutes for the June 18 meeting this Wednesday at 1400ET.
OUTLOOK: Price Signal Summary - Bear Threat In WTI Remains Present
Jul-07 10:53
- On the commodity front, Gold is trading lower today. Recent weakness resulted in a breach of the 50-day EMA, and a trendline drawn from the Dec 30 ‘24 low and connected to the Feb 28 low. A clear break of both trend tools would signal scope for a deeper correction, and open $3245.5, May 29 low. Note that the latest recovery highlights a possible false trendline break. A resumption of gains would refocus attention on $3451.3, the Jun 16 high. The bear trigger is $3248.7, the Jun 30 low.
- In the oil space, WTI futures maintain a softer tone following the reversal from the Jun 23 high. Recent gains appear corrective. Support to watch is the 50-day EMA, at $64.84. It has been pierced, a clear break of it would signal scope for a deeper retracement. This would expose $58.87, the May 30 low. Initial resistance to watch is $71.20, the 50.0% retracement of the Jun 23 - 24 high-low range. Key resistance is at $78.40, the Jun 23 high.
