BOBL TECHS: (U5) Support Remains Intact For Now
- RES 4: 119.790 High Apr 7 and the bull trigger
- RES 3: 118.600 High Apr 22
- RES 2: 118.300 High May 7
- RES 1: 118.280 High Jun 3 / 5
- PRICE: 117.890 @ 06:03 BST Jun 12
- SUP 1: 117.530 Low Jun 5
- SUP 2: 117.470 Low May 21 and a key near-term support
- SUP 3: 117.470 Low May 21
- SUP 4: 116.660 Low Mar 27
Bobl futures remain in a bull cycle and the sharp pullback on May 5 - for now - still appears corrective. The recovery since mid May highlights a reversal and the end of a correction in April and May. A resumption of gains would pave the way for a move towards 118.300, the May 7 high. Further out, scope would be for an extension towards 118.790, the Apr 7 high. Support to monitor is 117.470, the May 21 low. The bull trigger is 118.280, Jun 3 / 5 high.
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LOOK AHEAD: UK Timeline of Key Events (Times BST)
| Date | UK | Period | Event |
| 13-May | 0001 | Apr | BRC-KPMG Shop Sales Monitor |
| 13-May | 0700 | Mar/Apr | Labour Market Survey |
| 14-May | 0815 | --- | BOE Breeden At ISDA Conference |
| 15-May | 0700 | Mar / Q1 | GDP / Services / Production / Trade / Construction |
| 15-May | 1500 | --- | BOE Dhingra At New Economics Foundation conference |
| 19-May | - | --- | DMO to hold FQ2 consultations with investors / GEMMs |
| 20-May | 0900 | --- | BOE's Pill At Barclays Briefing |
| 21-May | 0001 | May | Brightmine pay deals for whole economy |
| 21-May | 0700 | Apr | Consumer inflation report |
| 22-May | 0700 | Apr | Public Sector Finances |
| 22-May | 0930 | May | S&P Global Flash PMI |
| 22-May | 1100 | May | CBI Industrial Trends |
| 22-May | 1150 | --- | BOE's Breeden On Climate Panel |
| 22-May | 1200 | --- | BOE's Dhingra On UK Productivity Panel |
| 22-May | 1330 | --- | BOE's Pill At MonPol Conference |
LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
| Date | Time | Country | Event |
| 13-May | 1000 | DE | ZEW Current Expectations Index |
| 13-May | -- | EU | ECB's De Guindos At ECOFIN Meeting |
| 14-May | 0700 | DE | HICP (f) |
| 14-May | 0800 | ES | HICP (f) |
| 14-May | 1340 | EU | ECB's Cipollone On Liquidity Issues Panel |
| 15-May | 0745 | FR | HICP (f) |
| 15-May | 0800 | EU | ECB's Cipollone at Payments Forum |
| 15-May | 0850 | EU | ECB's Elderson At Green Finance Conference |
| 15-May | 1000 | EU | Industrial Production / GDP data |
| 15-May | 1115 | EU | ECB's De Guindos At ISDA Meeting |
| 15-May | 1230 | EU | ECB's Cipollone In Digital Currency Fireside Chat |
| 16-May | 0830 | EU | ECB's Cipollone At EU Cyber Resilience Board Meeting |
| 16-May | 0900 | IT | HICP (f) |
| 16-May | 1000 | EU | Trade Balance |
| 16-May | 1600 | EU | ECB's Lane On Central Bank Communication Panel |
| 19-May | 1000 | EU | HICP (f) |
ASIA STOCKS: Optimism Dropping Off
Optimism may be dropping off throughout Asia with only some major bourses up again today as the trade truce remains at the forefront of investors minds. Some investors are now turning their attention to whether the trade truce means no further stimulus is forthcoming in China and hence are likely to focus on the actual impact of tariffs on company’s profitability.
- The Hang Seng was the regional outlier today, falling -1.67% whilst the CSI 300 and Shanghai were flat and Shenzhen following the lead from Hong Kong falling -0.30%.
- The KOSPI fell too by -0.15% after yesterday’s gain of +1.17%
- Malaysia was open again today after holidays but remained very quiet rising just +0.07% despite Singapore’s Straits Times being up +0.43%.
- The Philippines PSEi continues its good run rising +1.45% today.
- India’ s NIFTY 50 is down by-0.85%, following yesterday's strong gains of +3.8%
