BRAZIL: Intraday BRL Pressure Extends on Tariff Article

Jul-25 16:05

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* Although USDBRL had been trending moderately higher since the open, momentum has picked up in re...

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US 10YR FUTURE TECHS: (U5) Bull Cycle Remains Intact

Jun-25 15:57
  • RES 4: 112-23   High May 1 and key resistance 
  • RES 3: 112-04+ High May 2 
  • RES 2: 111-30/31+ 76.4% of May 1-22 downleg / 1.0% 10-dma env 
  • RES 1: 111-24   Intraday high
  • PRICE:‌‌ 111-17 @ 16:53 BST Jun 25
  • SUP 1: 110-23   50-day EMA         
  • SUP 2: 110-10+/109-28 Low Jun 16 / Low Jun 6 / 11 
  • SUP 3: 109-12+ Low May 22 and the bear trigger
  • SUP 4: 109-09+ Low Apr 11 and key support

Treasury futures are holding on to this week’s gains. Price has traded above resistance at 111-14+, the Jun 5 high and 61.8% of the May 1 - 22 downleg. The clear break of this hurdle strengthens a bullish cycle and has opened 111-30, a Fibonacci retracement. Clearance of 111-30 would strengthen current conditions. Initial pivot support to watch lies at 110-23, the 50-day EMA. A clear breach of this EMA would signal a potential reversal.  

US TSY OPTIONS: Aug'25 10Y Vol for Sale

Jun-25 15:46
  • -5,000 TYQ5 111.5 straddles 131-130 ref 111-16
  • -8,000 TYQ5 110.25/112.75 strangles, 36 ref 111-16

OPTIONS: Larger FX Option Pipeline

Jun-25 15:45
  • EUR/USD: Jun27 $1.1400(E1.2bln), $1.1415-25(E1.1bln), $1.1600(E1.1bln); Jun30 $1.1650(E2.0bln), $1.1700(E1.1bln); Jul01 $1.1700(E1.4bln)
  • USD/JPY: Jun30 Y143.65-85($1.4bln), Y145.35-50($1.3bln), Y148.40($1.3bln)
  • USD/CAD: Jun27 C$1.3630-45($1.2bln)