EUR: Greenback Fades as Weekly Claims Comes in Higher-Than-Expected
Dec-05 13:33
- Greenback edges to new daily lows on the back of the higher-than-forecast claims numbers - EUR/USD through to 1.0558 and counting.
- 1.0597 marks the next upside level here, the Oct29 high, and further corrective strength would open 1.0610 and levels last seen in early November.
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**MNI: CANADIAN SEP TRADE BALANCE CAD -1.3 BILLION
Nov-05 13:30
- MNI: CANADIAN SEP TRADE BALANCE CAD -1.3 BILLION
- CANADA SEP EXPORTS CAD 63.9 BLN, IMPORTS CAD 65.1 BLN
- CANADA REVISED AUG MERCHANDISE TRADE BALANCE CAD -1.5 BLN
**MNI: US SEP TRADE GAP -$84.4B VS AUG -$70.8B
Nov-05 13:30
- MNI: US SEP TRADE GAP -$84.4B VS AUG -$70.8B
BONDS: Still Under Pressure
Nov-05 13:24
TY, Bund and gilt futures trade to fresh session lows.
- Fresh upticks in oil and some NY catch up to the uptick in Trump’s election odds being touted as the drivers by some, with no fresh headlines of note seen.
- Initial key support levels still untested across the 3 major futures contracts.
- 5s to 10s the weakest on the Tsy curve, while Bunds steepen and 5s lead the sell off in gilts.
- 10-Year gilts widen by ~1bp vs. both Bunds and Tsys, sub-par demand at today’s 10-Year UK supply a factor there.
