HYBRIDS: Rakuten (RAKUTN: Perp B) 1Q25
May-15 06:28
Shares down 9.5% currently. Will go through the numbers when I can. * 1Q loss of Y73.5bn came in wel...
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EURIBOR OPTIONS: Steepener via Options
Apr-15 06:28
ERU5 98.06/98.18cs vs 2RU5 97.93/98.06cs, bought the front for 1.75 in 3k.
BUNDS: The contract has extended gains Overnight
Apr-15 06:26
- Bund has edged just above the next resistance of 131.42 overnight, this was last Friday's high, managed a 131.57 high so far Today.
- Next upside resistance is at the April high of 132.03.
- The contract has benefitted from Safer Haven flow, combined with some positioning ahead of the ECB expected cut on Thursday and Growth risks given the Tariffs uncertainties.
- President Trump has floated the idea of temporary exemption on Imported Vehicles and parts last night, but this Morning CNBC reported that the US announced a probe into Chips and Electronics Imports paving the way for new Tariffs.
- Nonetheless, Yesterday's news on Cars has helped the US Yield fade away from Friday's peaks, around ~4.58% in the 10yr.
- The UK data is out of the way and had very limited impact, focus remains squarely on Tariff news.
- The rest of Today sees, France final CPI, German ZEW and for North America, Canadian CPI.
- ECB Bank lending survey is also released.
- SUPPLY: Uk £4bn 10yr (equates to 34.56k Gilt) should weigh, Germany €4.5bn Bobl (equates to 38.3k Bobl) Could weigh, Finland 2031, 2055 (won't impact Bund).
GOLD TECHS: Bulls Remain In The Driver’s Seat
Apr-15 06:25
- RES 4: $3347.7 - 1.00 proj of the Feb 28 - Apr 3 - Apr 7 price swing
- RES 3: $3300.0 - Round number resistance
- RES 2: $3291.8 - 1.00 proj of the Feb 28 - Apr 3 - Apr 7 price swing
- RES 1: $3245.8 - High Apr 14
- PRICE: $3226.6 @ 07:24 BST Apr 15
- SUP 1: $3077.5 - 20-day EMA
- SUP 2: $2956.7/2981.2 - Low Apr 7 / 50-day EMA
- SUP 3: $2880.3 - Low Mar 10
- SUP 4: $2832.7 - Low Feb 28
The trend condition in Gold remains bullish and price is trading at its recent highs. The yellow metal last week traded through $3167.8, the Apr 3 high, to resume the primary uptrend and trade to fresh all-time highs. Moving average studies are unchanged, they remain in a bull-mode position highlighting a dominant uptrend. Initial firm support lies at 3077.5, the 20-day EMA. Sights are on 3291.8, a Fibonacci projection
