ENERGY: Israel-Iran Headlines
IDF SAYS IT IDENTIFIED MISSILES LAUNCHED FROM IRAN TO ISRAEL - bbg * DOZENS OF INCOMING MISSILES HA...
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US TSY OPTIONS: Jun'25 2Y Ratio Call Spread
- 4,500 TUN5 103.75/1042x3 call spds, 4 net ref 103-15.5
EURGBP TECHS: Edges Off Lows
- RES 4: 0.8768 High Nov 20 ‘23
- RES 3: 0.8624/0.8738 High Apr 21/ High Apr 11 and the bull trigger
- RES 2: 0.8541/8557 High May 2 / High Apr 28
- RES 1: 0.8465 50-day EMA
- PRICE: 0.8434 @ 15:52 BST May 14
- SUP 1: 0.8403 Low May 12
- SUP 2: 0.8400 Round number support
- SUP 3: 0.8359 1.236 proj of the Apr 11 - 16 - 21 price swing
- SUP 4: 0.8316 Low Mar 28 and a key support
EURGBP is trading just above recent lows. The cross traded to a fresh, short-term cycle low Monday, strengthening a bearish theme. It has also cleared support at 0.8465, the 50-day EMA, signalling scope for a continuation lower. Sights are on 0.8415 next, a Fibonacci retracement. This level has been pierced, a clear break of it would open 0.8400 and below. Key near-term resistance is 0.8541, the May 2 high. A break of it is required to signal a potential reversal.
US: FED Reverse Repo Operation
RRP usage climbs to $165.024B this afternoon from $144.214B yesterday, total number of counterparties at 36. Usage had fallen to $54.772B last Wednesday, April 16 -- lowest level since April 2021. Conversely, usage had surged to the highest level since December 31, 2024 on Monday, March 31: $399.167B.
