NATO: Rutte Denies US Drifting From Ukraine Despite Hegseth Snub
Jun-04 10:26
Speaking ahead of today's meeting of the Ukraine Defence Contact Group (UDCG) in Brussels, NATO Secr...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
LOOK AHEAD: Monday Data Calendar: S&P Services/Comp PMIs, ISM Services, 3Y Note
May-05 10:20
- US Data/Speaker Calendar (prior, estimate)
- 5-May 0945 S&P Global US Services PMI final (51.4, 51.2), Comp (51.2, 51.2)
- 5-May 1000 ISM Services Index (50.8, 50.3), ISM Prices Paid (60.9, 61.4)
- 5-May 1000 ISM Services New Orders (50.4, 50.0), Employ (46.2, 46.0)
- 5-May 1130 US Tsy $76B 13W & $68B 26W bill auctions
- 5-May 1300 US Tsy $58B 3Y Note auction (91282CND9)
OUTLOOK: Price Signal Summary - USDJPY Resistance Remains Intact
May-05 10:14
- In FX, a corrective cycle in EURUSD remains in play. The trend structure is unchanged, it remains bullish. MA studies are in a bull-mode position signalling a dominant uptrend, and the latest move down is allowing an overbought condition to unwind. A resumption of gains would open 1.1608, the Nov 9 2021 high. Initial key support to watch is the 20-day EMA, at 1.1264. A break of this average would signal scope for a deeper pullback.
- The latest pullback in GBPUSD is considered corrective. A bearish tweezer top formation on the daily candle chart last Monday/Tuesday, highlights a short-term top. Support to watch lies at 1.3225, the 20-day EMA. A break of this level would signal scope for a deeper retracement. Note that moving average studies remain in a bull-mode position, signalling a dominant underlying uptrend. Sights are on 1.3510, a 1.236 projection of the Feb 28 - Apr 3 - 7 price swing.
- Recent gains in USDJPY resulted in a move through the 20-day EMA, undermining the bear trend. However, price action remains below resistance at the 50-day EMA, at 146.60. A clear break of this average would highlight a possible reversal. For now, gains are considered corrective. Moving average studies remain in a bear-mode position highlighting a dominant downtrend. A resumption of the trend would open 139.79 next, a 1.382 projection of the Feb 12 - Mar 11 - 28 price swing.
OUTLOOK: Price Signal Summary - EUROSTOXX 50 Bull Cycle Remains In Play
May-05 09:56
- In the equity space, the latest recovery in S&P E-Minis reinforces current bullish conditions. The contract has traded through the 50-day EMA, at 5620.87. A continuation of the bull phase would expose 5837.25 next, the Mar 25 high and a bull trigger. It is still possible that the entire rally since Apr 7 is a correction. A reversal lower would signal the end of this corrective phase and expose initially, support at 5127.25, the Apr 21 low. First support lies at 5511.99, the 20-day EMA.
- EUROSTOXX 50 futures maintain a positive tone and Friday’s rally strengthens the current bull cycle. The contract has cleared both the 20- and 50-day EMAs, and attention is on 5263.01, the 76.4% retracement of the Mar 3 - Apr 7 bear leg. Clearance of this level would pave the way for a climb towards 5341.00, the Mar 27 high. Initial support to watch lies at 5047.80, the 20-day EMA. A breach of this level would signal a possible reversal.
Related bullets
Related by topic
Geo-Political
Ukraine
US
Gasoil
Marine Oil
Oil Positioning
OPEC
Freight
Jet Fuel
Gasoline
Fuel Oil
Diesel
Oil Options
Energy Data
US Natgas
TTF ICE
Asia LNG
Gas Positioning
