LOOK AHEAD: UK Timeline of Key Events (All Times in GMT)

Mar-12 06:26
Date UK Period Event
12-Mar 0700 Jan/Feb Labour Market Survey
12-Mar 1100 BOE's Mann on NIESR Panel
12-Mar 1615 BOE's Bailey at Banca d'Italia Symposium
13-Mar 0700 Jan GDP/Trade/Services/Production/Construction
15-Mar 0930 Feb Bank of England/Ipsos Inflation Attitudes Survey
18-Mar 1530 DMO Quarterly Investor/GEMM Consultation Meetings
20-Mar 0001 Feb XpertHR pay deals for whole economy
20-Mar 0700 Feb Consumer inflation report/ Producer Prices
21-Mar 0700 Feb Public Sector Finances
21-Mar 0930 Mar S&P Global Manufacturing/Services/Composite PMI flash
21-Mar 1200 Bank Of England Interest Rate
21-Mar 1200 BOE's MPS and minutes
21-Mar 1200 BOE's Agents' summary of business conditions
22-Mar 0001 Mar Gfk Monthly Consumer Confidence
22-Mar 0700 Feb Retail Sales
22-Mar 1100 Mar CBI Industrial Trends
22-Mar 1630 BOE to announce APF sales schedule for Q2-24

Historical bullets

JGB TECHS: (H4) Remains Above The January Low

Feb-09 23:45
  • RES 3: 149.53 - High Mar 22 (cont) and a key resistance
  • RES 2: 148.74 - High Jul 24 (cont)
  • RES 1: 147.74 - High Jan 15 and bull trigger
  • PRICE: 146.22 @ 15:52 GMT Feb 09
  • SUP 1: 144.60 - Low Dec 08 / 11
  • SUP 2: 143.44 - Low Oct 31 (cont)
  • SUP 3: 143.29 - 2.618 proj of the Mar 22 - Apr 18 - May 12 swing

Recent weakness in JGBs resulted in a low print of 145.86, on Jan 26. The contract has recovered, however, a stronger reversal is required to signal the end of the recent corrective phase. A resumption of weakness would potentially open 144.60 support. On the upside, the bull trigger has been defined at 147.74, the mid-January high. A break would resume the uptrend. MA studies remain in a bull-mode set-up, highlighting an uptrend.

AUSSIE 10-YEAR TECHS: (H4) Broader Trend Remains Up

Feb-09 23:15
  • RES 3: 96.207 - 61.8% of the Mar 14 - Nov 1 ‘23 bear leg
  • RES 2: 96.160 - High Jul 20
  • RES 1: 96.110 - High Dec 28 and the bull trigger
  • PRICE: 95.810 @ 15:51 GMT Feb 09
  • SUP 1: 95.650 - Low Jan 19
  • SUP 2: 95.390/275 - Low Nov 27 / 14
  • SUP 3: 94.965 - Low Oct 31

Aussie 10yr futures remain in a medium-term uptrend after the contract traded to new highs of 96.110 at the end of 2023. This cleared key resistance at the 96.050 level and the pullback in January appears to have been a correction. 96.110, the Dec 28 high, is the bull trigger. Key support lies below at 95.390 as well as 95.275. Weakness through here would be a bearish development. For now, a pullback is considered corrective.

USDCAD TECHS: Resistance Remains Intact For Now

Feb-09 21:00
  • RES 4: 1.3661 High Nov 27
  • RES 3: 1.3623 61.8% retracement of the Nov 1 - Dec 27 bear leg
  • RES 2: 1.3608 High Dec 13
  • RES 1: 1.3542/44 High Jan 17 / Feb 5 and 6 and bull trigger
  • PRICE: 1.3461 @ 16:10 GMT Feb 9
  • SUP 1: 1.3448/3359 20-day EMA / Low Jan 31 and key S/T support
  • SUP 2: 1.3343 Low Jan 12
  • SUP 3: 1.3288 Low Jan 5
  • SUP 4: 1.3229 Low Feb 1

USDCAD remains below its recent highs. Attention is on key short-term resistance at 1.3542, the Jan 17 high. For bulls, a clear break of this hurdle would confirm a resumption of the uptrend that started Dec 27 and open 1.3623, 61.8% of the Nov 1 - Dec 27 bear leg. Key support to watch lies at 1.3359, the Jan 31 low. Clearance of this level would instead highlight a bearish development. First support lies at 1.3448, the 20-day EMA.