OI data suggests that net long setting dominated in SOFR futures on Monday, with only modest net short cover in SFRU7 interrupting the wider trend.
| 28-Apr-25 | 25-Apr-25 | Daily OI Change |
| Daily OI Change In Packs |
SFRH5 | 1,102,505 | 1,098,307 | +4,198 | Whites | +76,927 |
SFRM5 | 1,270,249 | 1,251,091 | +19,158 | Reds | +45,334 |
SFRU5 | 990,585 | 964,456 | +26,129 | Greens | -59 |
SFRZ5 | 1,104,926 | 1,077,484 | +27,442 | Blues | +20,091 |
SFRH6 | 725,138 | 714,499 | +10,639 |
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SFRM6 | 703,937 | 692,150 | +11,787 |
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SFRU6 | 692,438 | 680,183 | +12,255 |
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SFRZ6 | 844,507 | 833,854 | +10,653 |
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SFRH7 | 614,938 | 611,814 | +3,124 |
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SFRM7 | 532,413 | 530,213 | +2,200 |
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SFRU7 | 355,449 | 362,095 | -6,646 |
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SFRZ7 | 382,695 | 381,432 | +1,263 |
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SFRH8 | 270,878 | 265,029 | +5,849 |
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SFRM8 | 185,924 | 181,366 | +4,558 |
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SFRU8 | 147,204 | 139,725 | +7,479 |
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SFRZ8 | 163,813 | 161,608 | +2,205 |
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USDCAD traded through support at 1.4242 on Wednesday but has recovered. A return lower and clearance of this level would undermine the bull theme and instead highlight potential for a test of 1.4151, the Feb 14 low and a bear trigger. Moving average studies continue to highlight a dominant uptrend. A reversal higher would refocus attention on the bull trigger at 1.4543, the Mar 4 high. First resistance is 1.4402, the Mar 20 high.
Treasury data shows that there were $207B of "extraordinary measures" available to circumvent hitting the debt limit as of Wednesday Mar 26.

AUDUSD is unchanged. A short-term bull theme is intact and the latest move down appears corrective. Key short-term support to watch is 0.6187, the Mar 4 low. Clearance of this level would reinstate a bear threat. First support is at 0.6258, the Mar 21 low. A stronger recovery would refocus attention on 0.6409, the Feb 21 high. Clearance of this hurdle would strengthen the bull cycle and resume the uptrend that started Feb 3.