STIR: Over 80% Odds Of ECB Sep Hike Priced

• RES 4: $100.000 - Round number resistance
• RES 3: $98.487 - 61.8% retracement of the Jan 29 - Mar 23 sell-off 
• RES 2: $78.898/89.374 - High May 19 / 13 
• RES 1: $76.190 50-day EMA         
• PRICE: $68.215 @ 08:22 BST Jun 9
• SUP 1: $61.007 - Low Mar 23 and bear trigger
• SUP 2: $60.000 - Round number support 
• SUP 3: $56.496 - Low Dec 4 ‘25
• SUP 4: $53.345 - Low Nov 28 ‘25 

A bearish theme in Silver remains intact and last Friday’s sell-off reinforces this theme. The move down resulted in the breach of support $70.869, the Apr 29 low. Clearance of this support exposes $61.007, the Mar 23 low and a bear trigger. A breach of this price point would highlight an important bearish development. Key short-term resistance has been defined at $89.374, the May 13 high. Initial firm resistance is at $76.190, the 50-day EMA.

• RES 4: 1.4015 High Dec 2 2025  
• RES 3: 1.3972 1.0% 10-dma envelope
• RES 2: 1.3967 High Mar 31 and a key M/T resistance
• RES 1: 1.3961 High Jun 8
• PRICE: 1.3939 @ 08:19 BST Jun 9
• SUP 1: 1.3867 Low Jun 5  
• SUP 2: 1.3822 20-day EMA
• SUP 3: 1.3772 50-day EMA
• SUP 4: 1.3731 Low May 20 

The current uptrend in USDCAD remains intact and recent strong gains have reinforced this condition. The move higher has confirmed a resumption of the bull cycle that started on May 1. This paves the way for an extension towards 1.3967, the Mar 31 high and the next key resistance. Initial firm support to watch lies at 1.3772, the 50-day EMA. A clear break of this average is required to signal a possible reversal.

Previous version incorrectly referred to outstanding amount as book size

2.50% Oct-2030 (ISIN: EU000A4EG021)

• Size: EUR 3bln (WNG)
• Guidance: MS + 8 bps area

3.625% Dec-2040 (ISIN: EU000A4EJF17)

• Size: EUR 5bln (WNG)
• Guidance: 3.375% Oct-39 EU-bond + 12 bps area

For both:

• Settlement: 16 June 2026 (T+5)
• Barclays (DM/B&D) / BNP Paribas / BofA Securities / Santander / UBS
• Books Open, Today's Business

Details as per market source