OPTIONS: Larger FX Option Pipeline
- EUR/USD: Jul11 $1.0250(E1.3bln), $1.0300(E1.2bln), $1.0400(E1.0bln); Jul12 $1.0260-70(E1.2bln)
- GBP/USD: Jul13 $1.2035(Gbp1.2bln)
- USD/JPY: Jul11 Y133.50($1.5bln); Jul12 Y135.55-60($1.0bln); Jul13 Y134.40-55($1.1bln)
- AUD/USD: Jul11 $0.6250(A$1.0bln)
- NZD/USD: Jul12 $0.6250(N$1.2bln)
- USD/CAD: Jul13 C$1.3000($1.3bln)
- USD/CNY: Jul11 Cny6.5484($1.4bln); Jul12 Cny6.7000($1.3bln)
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WHITE HOUSE: White House Press Conference Beginning Shortly
White House Press Secretary Karine Jean-Pierre is shortly due to begin her daily press conference.
- Livestream here: https://www.youtube.com/watch?v=15hS-eKiKlw&featur...
GBPUSD TECHS: Watching Support
- RES 4: 1.2772 High Apr 26
- RES 3: 1.2690 50-day EMA
- RES 2: 1.2667 High May 27 and key short-term resistance
- RES 1: 1.2590 High Jun 3
- PRICE: 1.2466 @ 15:32 BST Jun 7
- SUP 1: 1.2431 Low Jun 7
- SUP 2: 1.2317 Low May 17
- SUP 3: 1.2277 76.4% retracement of the May 13 - 27 upleg
- SUP 4: 1.2156 Low May 13 and the bear trigger
GBPUSD traded lower but has found support at 1.2431 - for now. Attention is on a key resistance at the 50-day EMA that intersects at 1.2690 Tuesday. Clearance of this average is required to strengthen short-term bullish conditions. The broader trend direction is down though and the trigger for a resumption of the downtrend is 1.2156, May 13 low. A deeper pullback would expose 1.2317 initially, the May 17 low.
US: FED Reverse Repo Operation, New Record High
NY Fed reverse repo usage climbs to new record high of 2,091.395B w/ 98 counterparties vs. 2,040.093B prior session, compares to prior record of $2,044.658B from Monday, May 23.
NY Federal Reserve/MNI
