GILTS: /STIR/SWAPS: BMO Point To Baseline Of 1 More BoE Cut In Near-Term
BMO note that this week's "inflation prints, plus the outcome of the May MPC meeting and Monetary Po...
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USDCAD TECHS: Southbound
- RES 4: 1.4415 High Apr 1
- RES 3: 1.4296 High Apr 7
- RES 2: 1.4165 50-day EMA
- RES 1: 1.3906/4029 High Apr 17 / 20-day EMA
- PRICE: 1.3814 @ 08:01 BST Apr 23
- SUP 1: 1.3781 Low Apr 21
- SUP 2: 1.3744 76.4% retracement of Sep 25 ‘24 - Feb 3 bull run
- SUP 3: 1.3696 Low Oct 10 2024
- SUP 4: 1.3643 Low Oct 9 ‘24
A bearish theme in USDCAD remains intact for now and the pair is trading at its recent lows. Fresh cycle lows continue to highlight a resumption of the downtrend and signal scope for a continuation near-term. Potential is seen for a move towards 1.3744, a Fibonacci retracement. Moving average studies are in a bear -mode position, highlighting a dominant downtrend. First resistance to watch is 1.4029, the 20-day EMA.
AUDUSD TECHS: Maintains A Bullish Tone
- RES 4: 0.6550 61.8% retracement of the Sep 30 ‘24 - Apr 9 bear leg
- RES 3: 0.6528 High Nov 29 ‘24
- RES 2: 0.6471 High Dec 9 ‘24
- RES 1: 0.6439 High Apr 22
- PRICE: 0.6418 @ 07:58 BST Apr 23
- SUP 1: 0.6349/6299 Low Apr 21 / 20-day EMA
- SUP 2: 0.6181 Low Apr 11
- SUP 3: 0.6116 Low Apr 10
- SUP 4: 0.5915 Low Apr 9 and key support
AUDUSD is holding on to its recent gains and a bullish theme remains intact. The pair has breached a key resistance at 0.6409, the Dec 9 ‘24 high. This reinforces bullish conditions and signals scope for a continuation higher near-term. Sights are on 0.6471 next, the Dec 9 2024 high. Initial key support to monitor is 0.6299, the 20-day EMA. A clear break of this EMA would be a concern for bulls.
GILTS: Opening calls
Gilt Opening calls, these DO NOT take the remit into account.
- Range 92.04/92.50, would give a ~92.27 mid
