US TSYS/SUPPLY: Review: 30Y Bond Auction Re-Open - Tail

• US TSY 3Y NOTE AUCTION: HIGH YLD 3.485%; ALLOTMENT 24.56%
• US TSY 3Y NOTE AUCTION: DEALERS TAKE 8.37% OF COMPETITIVES
• US TSY 3Y NOTE AUCTION: DIRECTS TAKE 17.39% OF COMPETITIVES
• US TSY 3Y NOTE AUCTION: INDIRECTS TAKE 74.24% OF COMPETITIVES
• US TSY 3Y AUCTION: BID/CVR 2.73

White House Press Secretary Karoline Leavitt is shortly due to deliver her first press conference since August 28. LIVESTREAM

• The presser will be the first opportunity for reporters to probe the White House on US involvement in an Israeli airstrike on Hamas leadership in Qatar to, a major escalation of the war in Gaza that is likely to close a diplomatic path to a ceasefire. See SECURITY: Israel Strikes Hamas In Qatar, Likely Ends Prospect Of Diplomacy 1/2
• The presser is also likely to include questions on the Jeffrey Epstein case, after House Oversight Committee Democrats yesterday published on X a picture allegedly drawn by President Donald Trump as part of a book for Epstein’s 50th birthday. Trump and the White House deny knowledge of the ‘birthday book,’ decrying it as ‘fake news.’
• Earlier in the summer, the Epstein case drove a wedge between Trump and his MAGA base, prompting a notable drop in his approval rating. While the case isn’t going away, Trump appears to have resolved a rift with key conservative commentators, reducing his political exposure to the issue.
• Defense Secretary Pete Hegseth and Joint Chiefs Chair Gen. Dan Caine made an unannounced visit to Puerto Rico yesterday as the US prepares to expand military operations against Latin American cartels. Hegseth told sailors and marines they were being sent to the “front lines” of a critical mission.

• RES 4: 1.1923 2.00 proj of the Feb 28 - Mar 18 - 247 price swing
• RES 3: 1.1851 High Sep 10 2021
• RES 2: 1.1829 High Jul 01 and the bull trigger
• RES 1: 1.1789 High Jul 24
• PRICE: 1.1725 @ 17:30 BST Sep 9
• SUP 1: 1.1671/25 20-and 50-day EMA values
• SUP 2: 1.1574/1.1528 Low Aug 27 / Low Aug 5
• SUP 3: 1.1392 Low Aug 1 and bear trigger
• SUP 4: 1.1373 Low Jun 10

The trend theme in EURUSD remains bullish. This week’s move higher reinforces current conditions and confirms a clear breach of 1.1743, the Aug 22 high. This highlights a short-term bullish development and signals scope for an extension towards 1.1829, the Jul 01 high and bull trigger. Support to watch is around the 50-day EMA, at 1.1625. A clear breach of this average would signal scope for a deeper retracement.