US TSYS: US Pres Trump on Debt Limit
No reaction in Treasuries, trading near recent session highs after Pres Trump posted on his social media platform that the debt limit "should be ended to prevent economic catastrophe". Trump has been a proponent of raising or eliminating the debt limit since his first term.
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GBPUSD TECHS: Retracement Mode
- RES 4: 1.3605 1.236 proj of the Feb 28 - Apr 3 - 7 price swing
- RES 3: 1.3550 High Feb 24 ‘22
- RES 2: 1.3510 1.236 proj of the Feb 28 - Apr 3 - 7 price swing
- RES 1: 1.3444 High Apr 28 / 29
- PRICE: 1.3307 @ 15:01 BST May 5
- SUP 1: 1.3257 Intraday low
- SUP 2: 1.3225 20-day EMA
- SUP 3: 1.3041/3035 Low Apr 14 / 50-day EMA
- SUP 4: 1.2968 Low Apr 11
The latest pullback in GBPUSD is considered corrective. A bearish tweezer top formation on the daily candle chart last Monday/Tuesday, highlights a short-term top. Support to watch lies at 1.3225, the 20-day EMA. A break of this level would signal scope for a deeper retracement. Note that moving average studies remain in a bull-mode position, signalling a dominant underlying uptrend. Sights are on 1.3510, a Fibonacci projection.
MNI EXCLUSIVE: MNI Interviews Former Dallas Fed Adviser on Monetary Policy
- MNI interviews former Dallas Fed adviser on monetary policy -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
LOOK AHEAD: Tuesday Data Calendar: March Trade Balance, Tsy 10Y Auction
- US Data/Speaker Calendar (prior, estimate)
- 6-May 0830 Trade Balance (-$122.7B, -$137.2B)
- 6-May 1130 US Tsy $70B 6W bill auction
- 6-May 1300 US Tsy $42B 10Y Note auction (91282CNC1)
