USDCAD TECHS: Resistance Remains Exposed
Mar-28 08:03
- RES 4: 1.3729 76.4% retracement of the Nov 1 - Dec 27 bear leg
- RES 3: 1.3661 High Nov 27
- RES 2: 1.3623 61.8% retracement of the Nov 1 - Dec 27 bear leg
- RES 1: 1.3614 High Mar 19 / 20 / 25 and the bull trigger
- PRICE: 1.3592 @ 07:59 GMT Mar 28
- SUP 1: 1.3456/20 Low Mar 21 / 8 and the bear trigger
- SUP 2: 1.3359 Low Jan 31 and key S/T support
- SUP 3: 1.3343 Low Jan 12
- SUP 4: 1.3288 Low Jan 5
A bullish theme in USDCAD remains intact and the pair is trading closer to its recent highs. Key short-term resistance is at 1.3614, the Mar 19 high and a recent congestion level. A clear break of this hurdle would confirm a resumption of the uptrend that began on Dec 27. This would expose 1.3623, a Fibonacci retracement, and 1.3661, the Nov 27 high. On the downside, key support has been defined at 1.3420, the Mar 8 low. A break would be bearish.
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EGB SYNDICATION: 30-year May-55 OAT
Feb-27 07:59
- Guidance: 3.00% Mar-54 OAT (MID) +6bps area
- Size: EUR Benchmark (MNI expects at least E5bln)
- Maturity: 25 May 2055
- Settlement: 05 March 2024 (T+5)
- Coupon: Fixed, annual ACT/ACT, payable each 25 May. Full first coupon on 25 May 2024
- ISIN: TBC
- Bookrunners: BNPP (DM/B&D) / CITI / DB / HSBC / SG
- Timing: Books open, today's business
From market source
GILTS: Opening calls
Feb-27 07:59
Gilt calls, range 97.79/97.86.
FRANCE DATA: France Consumer Sentiment Deteriorates for First Time Since Sep-23
Feb-27 07:59
France Consumer Sentiment came in lower than expected at +89 (vs 92 consensus, +91 prior). This was the first fall since September 2023.
- The 'General economic situation, next 12 months' sub-component declined -4 points from January to February 2024 printing at -42 - the first fall since August 2023, although we have seen a general improvement from -72 in July 2022 and this is the second highest reading since March 2022.
- Similarly, the 'Financial Situation, next 12 months' sub-component deteriorated -3 points to -11 points in February 2024, this was the first fall in since August 2023, again this sub-component has been increasing since a trough in September 2022, and is the third highest reading since March 2022.
- However, 'Consumer Prices, next 12 months' sub-component improved by +7 points from -54 in January to -47 in February 2024, but this is broadly back to levels between August and December 2023 (when values ranged from -49 to -45).
Source: Insee
