US 10YR FUTURE TECHS: (U5) Holds Ground
Aug-08 11:59
- RES 4: 113-23 76.4% retracement of the Sep’24 - Jan’25 sell-off
- RES 3: 113-07 76.4% retracement of the Apr 7 - 11 sell-off
- RES 2: 112-23 High May 1
- RES 1: 112-15+ High Aug 5
- PRICE: 112-02+ @ 12:56 BST Aug 8
- SUP 1: 110-19+/08+ Low Jul 24 / Low Jul 14 & 16
- SUP 2: 110-03 76.4% retracement of the May 22 - Jul 1 bull leg
- SUP 3: 109-28 Low Jun 6 and 11
- SUP 4: 109.25 Low May 27
Treasury futures remain strong on the back of the post-NFP rally - barring the erratic and quickly reversed intraday slip on Wednesday. Having cleared resistance into the bull trigger at 112-12+, the Jul 1 high, Treasuries have opened the May 1 high for direction at 112-23, a multi-month high. Clearance here opens retracement levels layered between 113-07 and 113-23. On the downside, key support is 110-08+, the Jul 14 and 16 low. First support lies at 110-19+, the Jul 24 low.
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LOOK AHEAD: Tuesday Data Calendar: June FOMC Minutes, Tsy 10Y Note Re-Open
Jul-09 11:49
- US Data/Speaker Calendar (prior, estimate)
- 07/09 0700 MBA Mortgage Applications reported 9.4% from 2.7% prior
- 07/09 1000 Wholesale Trade Sales MoM (0.1%, 0.2%)
- 07/09 1000 Wholesale Inventories MoM (-0.3%, -0.3%)
- 07/09 1130 US Tsy $65B 17W bill auction
- 07/09 1300 US Tsy $39B 10Y note auction R/O (91282CNC1)
- 07/09 1400 FOMC Meeting Minutes for June
- Source: Bloomberg Finance L.P. / MNI
MNI EXCLUSIVE: Austrian National Bank governor Robert Holzmann speaks to MNI
Jul-09 11:44
Austrian National Bank governor Robert Holzmann speaks to MNI.- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
OUTLOOK: Price Signal Summary - Bear Threat In Gilts Remains Present
Jul-09 11:24
- In the FI space, Bund futures traded lower Tuesday, extending Monday’s sell-off. Support at 129.77, the Jul 3 low, has been cleared. The clear break confirms a resumption of the recent bearish theme and opens 129.30 next, the May 22 low. On the upside, resistance around the the 50-day EMA, at 130.47, has recently been pierced but for now, remains intact. A clear break of it is required to highlight a possible reversal.
- A bear cycle in Gilt futures remains in play and Tuesday’s sell-off reinforces this theme. The contract has breached support at 91.63, the Jul 2 low. Price has also pierced 91.50, the 61.8% retracement of the May 22 - Jul 1 bull leg. This exposes 90.97, the 76.4% retracement point. Clearance of this level would strengthen a bearish theme. On the upside, initial firm resistance is at 92.51, the 20-day EMA.
