FRANCE AUCTION RESULTS: MT OATs
| Coupon | 2.40% | 2.75% | 0% | 3.00% |
| Maturity | Sep-28 | Feb-30 | May-32 | May-33 |
| Instrument | OAT | OAT | OAT | OAT |
| ISIN | FR001400XLW2 | FR001400PM68 | FR0014007L00 | FR001400H7V7 |
| Amount | E3.497bln | E3.3bln | E3.481bln | E3.216bln |
| Previous | E4.195bln | E7.498bln | E1.782bln | E3.984bln |
| Avg yield | 2.59% | 2.80% | 3.10% | 3.23% |
| Previous | 2.57% | 2.75% | 3.05% | 3.17% |
| Bid-to-cover | 3.49x | 3.36x | 3.58x | 3.17x |
| Previous | 3.48x | 2.90x | 2.52x | 2.70x |
| Avg Price | 99.3500 | 99.7600 | 80.3200 | 98.3600 |
| Low Price | 99.3400 | 99.7500 | 80.3000 | 98.3400 |
| Pre-auction mid | 99.292 | 99.681 | 80.207 | 98.242 |
| Prev avg price | 99.41 | 100.01 | 78.82 | 98.70 |
| Prev low price | 99.40 | 100.01 | 78.80 | 98.69 |
| Prev mid-price | 99.939 | 78.766 | 98.657 | |
| Previous date | 20-Feb-25 | 20-Feb-25 | 20-Jun-24 | 04-Jul-24 |
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COMMODITIES: Gold Holding Onto Bulk of Recent Gains, Bull Cycle Intact
WTI futures have pulled back from last week’s high and price has again traded below the 50-day EMA - at $71.62. Attention is on $70.20 (pierced), the Feb 6 low. A clear break of it would undermine a bullish theme and confirm a breach of the 50-day EMA. This would strengthen a bearish threat and open $67.75, the Dec 20 ‘24 low. Key S/T resistance has been defined at $74.06, the Feb 3 high. A move above this level would reinstate a bull theme. A bull cycle in Gold remains in play and the yellow metal continues to hold on to the bulk of its recent gains. Fresh highs once again confirm a resumption of the uptrend and maintain the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too, highlighting a dominant uptrend. Sights are on the $2962.2, a Fibonacci projection. The first key support to watch is $2833.2, the 20-day EMA.
- WTI Crude up $1.13 or +1.6% at $71.89
- Natural Gas down $0.15 or -3.89% at $3.581
- Gold spot up $15.61 or +0.54% at $2912.21
- Copper down $6.75 or -1.43% at $464.55
- Silver up $0.16 or +0.49% at $32.4995
- Platinum up $2.86 or +0.29% at $987.92
EQUITIES: Bullish Trend Structure in Eurostoxx 50 Futures Remains in Play
The trend condition in Eurostoxx 50 futures remains bullish. The move higher last week confirmed once again, a resumption of the uptrend that started on Nov 21 ‘24. Moving average studies are in a bull mode set-up too, highlighting a dominant uptrend. A major resistance at 5525.00, the March 2000 all-time high (cont), has been pierced. A clear break of it would highlight a key bullish technical breach. Support to watch is 5325.83, the 20-day EMA. S&P E-Minis continue to climb and the contract maintains a firmer tone. Attention is on resistance at 6162.25, the Jan 24 high. Clearance of this level would expose the key resistance at 6178.75, the Dec 6 ‘24 high. A move above this hurdle would resume the primary uptrend.On the downside, initial key support has been defined at 6014.00, the Feb 10 low. A break would highlight a bearish development.
- Japan's NIKKEI closed higher by 96.15 pts or +0.25% at 39270.4 and the TOPIX ended 8.61 pts higher or +0.31% at 2775.51.
- Elsewhere, in China the SHANGHAI closed lower by 31.34 pts or -0.93% at 3324.49 and the HANG SENG ended 360.58 pts higher or +1.59% at 22976.81.
- Across Europe, Germany's DAX trades lower by 72.66 pts or -0.32% at 22726.07, FTSE 100 lower by 8.26 pts or -0.09% at 8759.9, CAC 40 down 24.22 pts or -0.3% at 8164.53 and Euro Stoxx 50 down 11.34 pts or -0.21% at 5508.37.
- Dow Jones mini up 21 pts or +0.05% at 44656, S&P 500 mini up 16.75 pts or +0.27% at 6148.75, NASDAQ mini up 83 pts or +0.37% at 22279.5.
EQUITIES: Estoxx Put Spread seller
SX5E (18/12/26) 5500/5000ps, sold at 175.2 in 10k.
