CANADA DATA: June Industrial And Material Price Gains Slow On Iran Ceasefire
Jul-24 13:03
* Statistics Canada's raw materials price index RMPI +21% YOY in Jun vs prior +33% in May. Excludi...
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STIR: Effective Fed Funds Rate
Jun-24 13:03
FRBNY EFFR for prior session:
- Daily Effective Fed Funds Rate: 3.63% (+0.00), volume: $109B
- Daily Overnight Bank Funding Rate: 3.62% (+0.00), volume: $243B
MNI: BELGIUM JUN BNB BUSINESS CONFIDENCE -12.4 (-13.3 MAY)
Jun-24 13:00
- MNI: BELGIUM JUN BNB BUSINESS CONFIDENCE -12.4 (-13.3 MAY)
EURGBP TECHS: Pierces Key Support
Jun-24 12:58
- RES 4: 0.8747 76.4% retracement of the Feb 27 - Mar 16 bear leg
- RES 3: 0.8742 High Mar 31 and Apr 1 and a bull trigger
- RES 2: 0.8731 High May 18
- RES 1: 0.8656/94 50-day EMA / High Jun 22
- PRICE: 0.8616 @ 13:58 BST Jun 24
- SUP 1: 0.8610/03 Low Mar 16 and the bear trigger / Intraday low
- SUP 2: 0.8597 Low Aug 14 ‘25
- SUP 3: 0.8577 Low Jul 2 ‘25
- SUP 4: 0.8544 50.0% retrace of the Dec 19 ‘24 - Nov 14 ‘25 bull leg
A sharp sell-off this week in EURGBP highlights a bearish threat and the cross maintains a softer tone . Note that moving average studies are in a bear-mode position and this also continues to highlight dominant downtrend. Sights are on the key support and bear trigger at 0.8610 (pierced), the Mar 16 low. A clear break of this level would highlight an important medium-term bearish development. Key short-term resistance is 0.8694, the Jun 22 high.
