US TSYS: Post-Retail Sales, ECI, Import/Export Data React
Feb-10 13:40
- Treasuries extend gains after latest Retail Sales data comes out lower than expected, import/export data near estimates.
- Another round of buying after counselor to Pres Trump, Peter Navarro expressed the "need to revise expectations on monthly job numbers" Bbg. (NFP for January released tomorrow).
- The TYH6 tapped 112-16 high (+10) on decent volume over 580k. Initial resistance at 112-16.5 (Feb 6 high), extension higher would undermine the bear theme and open 112.-22, the Jan 7 high.
- Curves flatter: 2s10s -1.242 at 70.040, 5s30s -.829 at 110.356.
- Cross asset roundup: Bbg US$ index slightly lower (BBDXY -.37 at 1182.62), Stocks flat to mildly lower (SPX emini -4.25 at 6979.0).
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AUSSIE 3-YEAR TECHS: (H6) Recovery Mode
Jan-10 22:45
- RES 3: 97.796 - 1.618 proj of the Sep 3 - 12 - 15 price swing
- RES 2: 96.780 - High Jun 26 (cont)
- RES 1: 96.700 - High Sep 12
- PRICE: 95.890 @ 16:40 GMT Jan 9
- SUP 1: 95.740 - Low Dec 22
- SUP 2: 95.480 - Low 1st Nov ‘23
- SUP 3: 94.932 - 1.0% 10-dma envelope
Prices bounced again Thursday, supported by strength in global bond markets and a smoother inflation picture at the December CPI print. As such, prices edged further away from recent lows. Nonetheless, slower pricing for additional RBA easing - and partial pricing for a return to rate hikes in 2026 - should keep the front-end of the curve under pressure. This keeps prices well below prior resistance at 96.615, the Sep 12 high, and refocuses attention on 95.480 as the next major support.
MNI: MNI TEST 02, Please Ignore
Jan-09 23:36
Test Test TEST
MNI: MNI Test, Please Ignore
Jan-09 23:30
Test, ignore
