MNI: FRANCE MAY MANUF SENTIMENT AT 99
May-25 06:45
- MNI: FRANCE MAY MANUF SENTIMENT AT 99
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USD: Unchanged since the Cash Govie open
Apr-25 06:30
- Very little change for the Dollar, since the cash Govie open, although Estoxx future (VGM3) is extending lower, so could keep the Dollar underpinned.
- So far the USD is mostly flat against the Yen, NZD, EUR, CHF, GBP and CAD.
- Worst early performer is the NOK, albeit by just 0.24%, but it is trading within Yesterday's range.
- For VGM3, support will be at 4309.00 Low Apr 17.
AUDUSD TECHS: Support Remains Exposed
Apr-25 06:25
- RES 4: 0.6921 High Feb 20
- RES 3: 0.6861 50.0% retracement of the Feb 2 - Mar 10 bear leg
- RES 2: 0.6824 High Feb 24
- RES 1: 0.6772/0.6806 High Apr 20 / Apr 14
- PRICE: 0.6680 @ 07:22 BST Apr 25
- SUP 1: 0.6620 Low Apr 10
- SUP 2: 0.6590 Low Mar 15
- SUP 3: 0.6565/47 Low Mar 10 / 61.8% of the Oct - Feb bull cycle
- SUP 4: 0.6500 Round number support
AUDUSD appears vulnerable and continues to trade below its recent highs. Key short-term resistance has been defined at 0.6806, the Apr 14 high. A break would reinstate a bullish theme and open 0.6861, a Fibonacci retracement. Support to watch is 0.6620, the Apr 10 low. Clearance of this level would represent a bearish development and leave the 0.6565 bear trigger exposed, Mar 10 low.
UK DATA: Highlights from the March Public Sector Finances Report:
Apr-25 06:24
- Central government net cash requirement (excluding UK Asset Resolution Ltd and Network Rail) was £25.1 bn in March, bringing the total for the FYE March 2023 to £111.3 bn, £4.1 bn less than forecast by OBR.
- PSNB-ex was £21.5 bn, £16.3 bn more than in Mar, second-highest March borrowing since monthly records began in 1993.
- PSNB-ex in FYE March 2023 was initially estimated at £139.2 bn (5.5% of GDP), £18.1 bn more than in the FYE March 2022 and the fourth-highest FY since records began in 1946.
- PSNB ex in the FYE March 2023 was £13.2 bn less than forecast by the Office for Budget Responsibility.
- PSND ex at the end of March 2023 was £2,530.4 bn or around 99.6% of GDP, 1% below OBR forecasts.
