OPTIONS: Larger FX Option Pipeline
May-30 15:52
* EUR/USD: Jun03 $1.1348-50(E3.2bln), $1.1350-55(E1.2bln); Jun05 $1.1050(E5.9bln), $1.1300(E2.3bln...
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FOREX: EURUSD Pressing Fresh Weekly Lows, Breaching S-T Trendline Support
Apr-30 15:45
- Broad single currency weakness playing out in the aftermath of month-end, prompting EURUSD to press fresh weekly lows below 1.1330. In the process, EURUSD is testing below a short-term trendline with multiple touches (hourly chart attached).
- While the recent pullback in EURUSD is considered corrective and the bullish trend structure is unchanged for now, the pair’s ability to gain traction above 1.14 this week appears a relatively bearish development at the margin. A break of the April 23 low at 1.1308 would focus the market on key support at the 20-day EMA (1.1251), of which a break would signal scope for a deeper corrective pullback towards 1.1144 initially.
- Despite the weaker equity benchmarks, the likes of EURAUD and EURCAD are underperforming, both down ~0.6% on the session. Notably, EURJPY has had a near 100 pip pullback to print a new session low by one pip at 161.71. This narrows the gap to the first EURJPY support at 161.43, the 50-day EMA.
PIPELINE: Corporate Bond Update: $2B IADB Priced
Apr-30 15:33
- Date $MM Issuer (Priced *, Launch #)
- 04/30 $2B *IADB 5Y SOFR+44
- 04/30 $1.25B *Nordic Investment Bank 5Y SOFR+43
- 04/30 $1B *CoE Dev Bank 3Y SOFR+36
- 04/30 $850M #Uzbekneftgaz 5Y 8.75%
- 04/30 $Benchmark BNP Paribas 4NC3 +150a, 4NC3 SOFR, 6NC5 +160a
- 04/30 $Benchmark Bahrain 12Y 7.5%, 8Y Sukuk 6.25%
FED: US TSY 17W BILL AUCTION: HIGH 4.190%(ALLOT 96.76%)
Apr-30 15:32
- US TSY 17W BILL AUCTION: HIGH 4.190%(ALLOT 96.76%)
- US TSY 17W BILL AUCTION: DEALERS TAKE 33.90% OF COMPETITIVES
- US TSY 17W BILL AUCTION: DIRECTS TAKE 2.78% OF COMPETITIVES
- US TSY 17W BILL AUCTION: INDIRECTS TAKE 63.32% OF COMPETITIVES
- US TSY 17W BILL AUCTION: BID/CVR 3.08
