OUTLOOK: Price Signal Summary - Trend Structure In Bunds Remains Bullish
Aug-14 11:15
In the FI space, a bull cycle in Bund futures remains in play and recent gains reinforce the trend condition. 133.21, the Jun 14 high, was cleared on Jul 29, confirming a resumption of the uptrend. Sights are on 136.45, 76.4% of the Dec 27 - May 31 downleg (cont). The contract remains below the Aug 5 high, a pullback has allowed an overbought condition to unwind. A firm support to watch is 133.75, 20-day EMA.
The trend condition in Gilt futures remains bullish and the latest pullback appears to have been a correction. Recent gains confirmed a resumption of the uptrend that started May 29. Resistance at 99.23, the Jun 21 peak, has been cleared and scope is seen for a climb towards 101.78, the 2.236 projection of the May 29 - Jun 4 - 10 price swing. Initial key support lies at 99.26, the 20-day EMA.
US MBA: REFIS +35% SA; PURCH INDEX +3% SA THRU AUG 9 WK
Aug-14 11:00
US MBA: REFIS +35% SA; PURCH INDEX +3% SA THRU AUG 9 WK
US MBA: UNADJ PURCHASE INDEX -8% VS YEAR-EARLIER LEVEL
US MBA: 30-YR CONFORMING MORTGAGE RATE 6.54% VS 6.55% PREV
US MBA: REFIS +35% SA; PURCH INDEX +3% SA THRU AUG 9 WK
Aug-14 11:00
US MBA: REFIS +35% SA; PURCH INDEX +3% SA THRU AUG 9 WK