EUROZONE: Timeline of key events (Times BST)
| Date | Time | Country | Event |
| 16-Jun | 0850 | EU | ECB Panetta Speech & Q&A at European Payments Council |
| 16-Jun | 0930 | EU | ECB de Guindos at Osservatorio Giovani-Editori Conference |
| 16-Jun | 1000 | IT | Italy Final HICP |
| 16-Jun | ---- | EU | ECB Lagarde & Panetta at Eurogroup Meeting |
| 16-Jun | 0930 | EU | ECB de Guindos at Osservatorio Giovani-Editori Conference |
| 17-Jun | ---- | EU | ECB de Guindos at ECOFIN Meeting |
| 17-Jun | 1000 | EU | Construction Production / HICP (f) |
| 20-Jun | 0700 | DE | PPI |
| 20-Jun | 1400 | EU | ECB Lagarde Intro at European Parliament |
| 20-Jun | 1600 | EU | ECB Lagarde Intro as ESRB Chair at European Parliament |
| 20-Jun | 1800 | EU | ECB Panetta Interview with Federico Fubini |
| 20-Jun | 2030 | EU | ECB Lane Speech at Society of Professional Economists |
| 21-Jun | 0900 | EU | EZ Current Acc |
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EUROZONE: Timeline of key events (Times BST)
| Event | Time | Country | Event |
| 17-May | 0900 | IT | Italy Final HICP |
| 17-May | 1000 | EU | Employment / EMU Prelim Flash GDP |
| 17-May | 1800 | EU | ECB Lagarde Speech at Soroptimist International Club |
| 18-May | 1000 | EU | HICP (f) |
| 18-May | ---- | EU | ECB Lagarde & Panetta in G7 Meeting |
| 19-May | 0900 | EU | EZ Current Acc |
| 19-May | 1000 | EU | Construction Production |
| 19-May | 1230 | EU | ECB April meeting Accounts |
| 19-May | ---- | EU | ECB Lagarde & Panetta in G7 Meeting |
| 19-May | 1330 | EU | ECB de Guindos Keynote Address at Harvard |
| 20-May | 0700 | DE | PPI |
| 20-May | ---- | EU | ECB Lagarde & Panetta in G7 Meeting |
| 20-May | 1300 | EU | ECB Lane in Discussion at Stockholm Uni |
| 20-May | 1500 | EU | Consumer Confidence Indicator (p) |
EUROSTOXX50 TECHS: (M2) Holding On To Recent Gains
- RES 4: 3944.00 High Mar 29 and a key resistance
- RES 3: 3883.00 High Apr 21
- RES 2: 3775.00 High May 5
- RES 1: 3740.30 50-day EMA
- PRICE: 3690.00 @ 06:01 BST May 17
- SUP 1: 3599.00/3466.00 Low May 13 / Low May 10 and bear trigger
- SUP 2: 3458.90 76.4% retracement of the Mar 7 - 29 rally
- SUP 3: 3400.00 Round number support
- SUP 4: 3309.00 Low Mar 7 and a major support
The primary trend direction in EUROSTOXX 50 futures remains down. However, the contract is currently in a corrective cycle following the recovery from 3466.00, May 10 low. Price is trading at its recent highs and ahead of the next resistance at 3740.30, the 50-day EMA. A clear break of this EMA would improve a short-term bullish theme. On the downside, key support and the bear trigger is 34666.00.
US TSYS: Bid In Regional Equities Helped Weigh On Tsys In Asia Trade
Tsys came under pressure during Asia-Pac hours, with the broader risk switch flicked to on. Continued positive developments surrounding the COVID situation in Shanghai, alongside the easing of rules surrounding the purchases of second homes in some Chinese cities & confirmation that Hong Kong will push ahead with its previously outlined timeframe re: the start of the wind back of its COVID-related mobility restrictions, supported wider risk appetite during Asia-Pac hours. Elsewhere, Chinese tech stocks drew support from hope surrounding a meeting between senior Chinese policymakers and tech executives, with participants speculating that the meeting may result in the easing of some of the measures implemented in the well-documented clampdown on the sector. This allowed the Hang Seng to add over 2.0% on the day, while e-minis nudged higher.
- TYM2 is -0-10+ at 119-11, just off the base of its 0-13+ overnight range, although volume isn’t particularly strong, running at ~80K. Cash Tsys run 3-4bp cheaper across the curve, with very light bear flattening in play.
- Looking ahead, Tuesday’s NY session will bring the release of retail sales data, in addition to a deluge of Fedspeak (Powell, Bullard, Mester, Harker, Kashkari & Evans are all due to speak).
