EURJPY TECHS: Resistance Remains Exposed
May-01 07:54
* RES 4: 165.43 High Nov 8 * RES 3: 164.90 High Dec 30 '24 and a key medium-term resistance * RES 2:...
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ITALY DATA: Very little positive in the PMI manufacturing report
Apr-01 07:49
Nothing particularly positive in the Italian PMI manufacturing press release. It missed expectations by 1.4 points, falling to 46.6 from 47.4 (against an expected increase to 48.0). And most of the details were diappointing. The following highlights from the press release:
- "Production volumes were lowered once again and at the fastest rate for four months.
- "New orders continued to decrease at a sharp and steady pace
in March, keeping firms in retrenchment mode." - "Sustained reduction in headcounts amid signs of excess capacity"
- "Charges up after six months of discounting and despite softer cost pressures"
MNI: ITALY MAR MANUFACTURING PMI 46.6 (FCST: 48.0); FEB 47.4
Apr-01 07:45
- MNI: ITALY MAR MANUFACTURING PMI 46.6 (FCST: 48.0); FEB 47.4
EGBS: Spreads To Bunds Little Changed
Apr-01 07:36
Spreads vs. Bunds within 1bp of yesterday’s closing levels.
- Initial spread tightening was aided by the Euro Stoxx 50 ticking further away from yesterday’s lows, but that bid has started to fade.
- Spanish manufacturing PMI a little softer than-expected, with SPGBs ~0.5bp wider vs. Bunds since the release (as much of a broader sentiment move as Spanish PMI driven).
- OAT/Bunds consolidates the recent move back above 70bp, with French political and fiscal uncertainty set to remain in play, despite Le Pen’s guilty verdict (she has been suspended from running in elections for 5 years but is appealing).
