MNI: REPEAT INVITE: MNI Webcast with ECB's Philip Lane On Dec 18
You are invited to listen to an MNI Webcast with Philip R. Lane, Chief Economist and Member of the Executive Board of the European Central Bank.
Details below:
- Topic of discussion: 'Eurozone economy and the ECB's monetary policy'
- Date: Wednesday 18 December
- Time: 9am - 1030am London; 10am - 1130am Frankfurt
- This event is on the record and will run as a Zoom Webinar
To register please go to: MNI Webcast Registration
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EQUITIES: EU Bank call buyer
SX7E (15th Nov) 146c, bought for 2.95 in 8.8k vs ~4.3k at 145.00.
US TSY FUTURES: OI Points To Mix Of Short Setting & Long Cover
OI points to a mix of net short setting and long cover that roughly offset in DV01 equivalent terms during Tuesday’s sell off, as the recent run of weakness in Tsys extended a little further.
- Increased odds of a second Presidential term for Trump have weighed on Tsys in recent sessions.
| 22-Oct-24 | 21-Oct-24 | Daily OI Change | OI DV01 Equivalent Change ($) |
TU | 4,545,665 | 4,582,018 | -36,353 | -1,351,554 |
FV | 6,238,689 | 6,207,442 | +31,247 | +1,326,453 |
TY | 4,653,882 | 4,650,842 | +3,040 | +194,965 |
UXY | 2,163,032 | 2,148,962 | +14,070 | +1,246,940 |
US | 1,761,256 | 1,768,911 | -7,655 | -989,263 |
WN | 1,732,401 | 1,738,091 | -5,690 | -1,132,493 |
|
| Total | -1,341 | -704,953 |
OUTLOOK: Price Signal Summary - S&P E-Minis Trend Signal Remains Bullish
- In the equity space, S&P E-Minis trend conditions are unchanged and signals remain bullish. The latest move lower is considered corrective. Recent fresh cycle highs confirm a resumption of the primary uptrend and maintain the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend. Sights are on 5961.00, the 1.00 projection of the Sep 6 - 17 - 18 price swing. Initial support to watch is 5830.91, the 20-day EMA.
- A bear threat in EUROSTOXX 50 futures remains present. The contract traded sharply lower on Oct 15 and has recently pierced the 50-day EMA, at 4947.94. A clear break of this average would undermine a recent bullish theme and highlight a stronger reversal. This would open 4884.06, 38.2% of the Aug 5 - Sep 30 bull cycle. Key resistance and the bull trigger is 5106.00, the Sep 30 high. Clearance of this level resumes the uptrend.
