BUNDS: Trading in thegreen ahead of the PMIs
Jan-24 07:24
- The German Bund has been totally unmoved from the widely expected BoJ hike, the contract is bid, and the street is clearly focused on the main event this Week, the Prelim PMIs.
- While the fairly more contained 72 ticks weekly range was broken Yesterday, after Bund fell through the 131.50 support on what looked like intraday long positioning Fast Money stops around 131.48, the German contract is back above the last Friday/Monday's low of 131.50, printed a 131.57 low overnight.
- The 131.50 area will again be watched this morning, but next support is now likely eyed at the 131.00 figure.
- The top of the Weekly range of 132.22 will be the initial upside area, ahead of the 132.57 level.
- It is all about the prelim PMIs today on both sides of the Atlantic, US Michigan will be final reading.
- SPEAKERS: ECB Lagarde, Cipollone.
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