EURUSD TECHS: Rally Extends
Nov-04 14:42
- RES 4: 1.0273 1.382 proj of the Sep 28 - Oct 4 - 13 price swing
- RES 3: 1.0198 High Sep 12 and a key resistance
- RES 2: 1.0094 High Oct 27 and a bull trigger
- RES 1: 0.9976 High Nov 2
- PRICE: 0.9938 @ 14:41 GMT Nov 04
- SUP 1: 0.9730 Low Nov 3
- SUP 2: 0.9705 Low Oct 21
- SUP 3: 0.9633 Low Oct 13 and a key support
- SUP 4: 0.9536 Low Sep 28 and the bear trigger
EURUSD has rebounded today and has, for now at least, defined a support at 0.9730, Thursday’s low. Initial firm resistance is seen at 0.9976, the Nov 3 high where a break is required to ease the recent bearish threat. This would signal scope for an extension higher towards key short-term resistance at 1.0094, the Oct 27 high. On the downside, a reversal lower and a move through 0.9730 would signal a resumption of the most recent bear leg.
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RUSSIA: Putin Orders Transfer Of Zaporizhzhia Nuclear Plant To Russian Control
Oct-05 14:42
Russia's state-run RIA stating that President Vladimir Putin has ordered the transfer of the Zaporizhzhia nuclear power plant to Russian control in a presidential decree.
- The decree also has the text of Russia's new constitution, which makes reference to the annexed Ukrainian oblasts of Donetsk, Luhansk, Zaporizhzhia and Kherson.
- The Zaporizhzhia plant is the largest nuclear power plant in Europe, and should it be permanently connected to the Russian grid it would prove a major loss for Ukraine's power generation ability.
- Fighting remains intense in the region around the plant, with sustained concerns about the risk posed by shelling in the area.
US TSYS: Cheapening Further Fuelled By ISM Serv, No BoE Take-Up
Oct-05 14:35
- Tsys cheapen further on relative ISM strength and the additional nudge from no take-up in BoE long-dated gilt purchase operations.
- Most benchmark tenors have now retraced the rally seen since the start of the US session Monday, with 2YY +9.5bp on the day lagging larger increases across the curve, led by 7YY +15bps, as real yields reverse the sharp decline earlier in the week (10Y real +15bp).
- TYZ2 trades 1-06 lower at 112-10 but still with room to fall further before next support at 111-20+ (Sep 29 low).
GILT AUCTION PREVIEW: New 2027 Gilt Details
Oct-05 14:34
DMO announces the new 5Y 2027 Gilt will have a 4.125% coupon.
- To be sold at Oct 12 auction with size GBP3.5bln
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