EM CEEMEA CREDIT: KAZAKS: CB leaves rates unch
Republic of Kazakhstan – CB leaves rates unch
(KAZAKS; Baa1/BBB-/BBB)
“*KAZAKH CENTRAL BANK LEAVES KEY RATE AT 16.5%” – BBG
- As expected, with the bank commenting “highly probable that the base rate will remain at the current level until the end of 2025.” Inflation levels remain elevated with May CPI print at 11.4%.
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USDCAD TECHS: Southbound
- RES 4: 1.4415 High Apr 1
- RES 3: 1.4296 High Apr 7
- RES 2: 1.4066 50-day EMA
- RES 1: 1.3914 20-day EMA
- PRICE: 1.3821 @ 08:04 BST May 6
- SUP 1: 1.3760 Low May 2 and the bear trigger
- SUP 2: 1.3744 76.4% retracement of Sep 25 ‘24 - Feb 3 bull run
- SUP 3: 1.3696 Low Oct 10 2024
- SUP 4: 1.3643 Low Oct 9 ‘24
Bearish conditions in USDCAD remain intact. A fresh cycle low last Friday reinforces the bearish theme signalling scope for a continuation, near-term. Potential is seen for a move towards 1.3744, a Fibonacci retracement. Note that Moving average studies are in a bear mode position, highlighting a dominant downtrend. On the upside, first resistance to watch is 1.3914, the 20-day EMA.
SONIA: Call Condor
SFIZ5 96.50/96.40/96.30/96.15c condor, bought for 0.25 in 4k.
AUDUSD TECHS: Bulls Remain In The Driver’s Seat
- RES 4: 0.5682 High Nov 12 ‘24
- RES 3: 0.6550 61.8% retracement of the Sep 30 ‘24 - Apr 9 bear leg
- RES 2: 0.6528 High Nov 29 ‘24
- RES 1: 0.6494 High May 05
- PRICE: 0.6456 @ 07:58 BST May 6
- SUP 1: 0.6366/6327 20- and 50-day EMA values
- SUP 2: 0.6275 Low Apr 14
- SUP 3: 0.6181 Low Apr 11
- SUP 4: 0.6116 Low Apr 10
AUDUSD traded higher Monday and a bullish theme remains intact. The recent breach of 0.6450, the Apr 29 high, marks the end of the recent pause in the bull cycle and confirms a resumption of the uptrend. Note that moving average studies are in a bull-mode position, highlighting an uptrend. Sights are on 0.6528, the Nov 29 ‘24 high. Initial key support to monitor is 0.6327, the 50-day EMA.
