STIR: Hawkish EUR Rates Reaction To US Tariff Block; Uncertainty Remains High

• G10 FX has been range bound and as noted for Bonds and Equities, there's very little changes across multi assets.
• The Dollar might be showing in the green and on the front foot against all G10s, but if we look at the three worst performing Currencies, the SEK, the CHF and the NZD, they are all trading well within Yesterday's range.
• Even the normally very Volatile Yen has traded in a 58 pips range as Market Participants turn their focus to the US JOLTS and Consumer Confidence Data to gauge the impact of the Tariff Policies later Today.

"The DMO will announce further details of the maturity area for the conventional gilt syndication [scheduled for the w/c May 19] at 7.30am on Friday 2 May 2025."

• RES 4: $75.51 - High Jan 15 and a key resistance   
• RES 3: $72.56 - High Feb 20
• RES 2: $71.76 - High Apr 2 and key resistance
• RES 1: $65.59 - 50-day EMA  
• PRICE: $61.45 @ 07:18 BST Apr 29 
• SUP 1: $58.29/54.67 - Low Apr 10 / 9 and the bear trigger  
• SUP 2: $53.72 - 2.236 proj of the Feb 20 - Mar 5 - Apr 2 price swing
• SUP 3: $52.54 - 2.382 proj of the Jan 15 - Feb 4 - 11 price swing
• SUP 4: $50.00 - Psychological round number  

A bearish theme in WTI futures remains intact and the recovery that started on Apr 9 appears corrective. The move higher has allowed an oversold trend condition to unwind. Recent weakness resulted in the breach of a number of important support levels, reinforcing a bearish threat. A clear resumption of the bear cycle would open $53.72, a Fibonacci projection. Resistance to watch is $65.59, the 50-day EMA.