EGB OPTIONS: Large Bobl structure
Mar-25 09:09
OEK2 129.50/128.50 ps vs 130.25 c, bought the ps for -.7.5 up to -6 (receive) in 20k total
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USD: More session lows for the USD
Feb-23 08:50
- More session lows for the Greenback, versus THB, SEK, SGD, AUD, NOK, CAD.JPY.
- The Dollar is now in the red against all majors, besides the KRW (just 0.08% up).
- The bid in Equities is the driver, but overall, the bigger picture for Equities is that they are still considerably down from the start of the year highs.
- AUDUSD is clear through the initial resistance seen at 0.7249, and now target 0.7277 High Jan 20
GERMAN AUCTION PREVIEW: 0% May-36 Bund
Feb-23 08:38
Germany will come to the market today to sell E1.5bln of the 15-year Bund.
- On offer will be the 0% May-36 Bund. ISIN: DE0001102549
- Auction history: This will be the tenth re-opening of the 0% May-36 Bund, which was launched via auction on March 3, 2021.
- Today's auction will be a smaller size than average for the 15-year Bund, with E1.5bln being issued. The latest reopening was January 19, where E1.5bln was also issued, however previous reopenings have all ranged between E2.0-2.5bln in size.
- The most recent January auction saw E1.326bln allotted at an average yield of 0.150% and a 1.15x bid-to-offer (the bid-to-cover was 1.01x ). Prior to this, the previous four auctions in July, September, October and November were all notably technically uncovered.
- The second most recent auction was on November 24 and had an issuance volume of E2.0bln. This auction allotted E980mln at an average yield of -0.060%, resulting in a low bid-to-cover of 0.54x (the bid-to-offer was 1.10x).
- Timing: Results are due shortly after the auction closes at 10:30GMT / 11:30CET.
USD: DXY test session low
Feb-23 08:37
- USD continue to trade on the back foot this morning,.
- Regardless, zooming out of the charts, most pairs still trade within past ranges, and DXY trades in the middle of the past 5 sessions ranges at 95.94 (95.686/96.245 past 5 days range).
- NZDUSD made an attempt at the initial resistance, noted on the open at 0.6793, printed a 0.6790 high.
- Cable eye next resistance at 1.3643/44 High Feb 18 / 10, now trading at 1.3620
