COAL: Rhine River Levels at Kaub Remain at Critical Level
Rhine river water levels at the Kaub measuring point stood last at 0.79cm on Thursday – near the critical level of around 0.78cm, at which vessels significantly have to reduce load, data from the German Federal Waterways and Shipping Administration showed.
- Levels are currently at the lowest since late October 2023.
- However, precipitation is seen to pick up from 13 April, lifting water levels. Precipitation is seen at 4.1mm on 13 April, at 10.7mm on 14 April and at 4.2mm on 15 April, the latest ECMWF weather forecast suggests.
- Rotterdam Coal MAY 25 up 2% at 101 USD/MT
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GILTS: Opening calls
Gilt Calls, another wide one, 92.09/92.58 range.
EQUITIES: EU Cash Opening calls
Estox 50: +0.71%, Dax: +0.61%, CAC: +0.29%, FTSE +0.24%, SMI -0.22%.
AUDUSD TECHS: Trading Above Support
- RES 4: 0.6429 High Dec 12 ‘24
- RES 3: 0.6414 38.2% retracement of the Sep 30 ‘24 - Feb 3 bear leg
- RES 2: 0.6409 High Feb 21 and a bull trigger
- RES 1: 0.6364 High Mar 6
- PRICE: 0.6287 @ 07:54 GMT Mar 11
- SUP 1: 0.6259/6187 Intraday low / Low Feb 4
- SUP 2: 0.6171/6088 Low Feb 4 / 3 and a key support
- SUP 3: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing
- SUP 4: 0.6000 Round number support
Recent gains in AUDUSD resulted in a move through both the 20- and 50-day EMAs. A resumption of gains and a stronger recovery would undermine a recent bearish theme and expose key short-term resistance at 0.6409, the Feb 21 high. Clearance of this hurdle would strengthen a bull cycle. On the downside, a move below 0.6187, the Mar 4 low, is required to reinstate a bear threat and open the bear trigger at 0.6088, the Feb 3 low.
