TARIFFS: Navarro And Hassett Say UK Trade Deal Will Act As Template

Bund Block trade, suggest buyer:

• RXM5 6k at 130.41.

• USDJPY is trading sharply lower today, resulting in a break of support at 144.56, the Apr 4 low and bear trigger. This confirms a resumption of the downtrend and maintains the price sequence of lower lows and lower highs. Note too that moving average studies are in a bear-mode position highlighting a dominant downtrend.
• Refreshing the technical levels of note on the downside:
  • SUP 1: 143.43 - Low Oct 2 ‘24 
  • SUP 2: 142.95 - 1.00 projection of the Feb 12 - Mar 11 - 28 price swing
  • SUP 3: 141.65 - Low Sep 30 ‘24 

Investment platform Hargreaves Lansdown notes that the early days of April have seen the daily average for gilt trades on its platform increase by 47% compared to March, with buying still outweighing sales amongst their clients.