CROSS ASSET: US Treasuries are helping EGBs back to session low.
Jan-23 12:17
- Nothing too big in TYH5, but sold in close to 5k as the contract (TYH5) breaks through another low, Immediate support is at 108.08+, Monday's low.
- USDJPY extends a few more pips highs, as Yield ticks up, and starting to see some spillovers from the US move here in EGBs, OAT, BTP hovers at session low.
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US 10YR FUTURE TECHS: (H5) Trend Needle Points South
Dec-24 12:02
- RES 4: 112-02 Low Oct 14
- RES 3: 111-20+ High 6 and the bull trigger
- RES 2: 110-28 50-day EMA
- RES 1: 110-03+ 20-day EMA
- PRICE: 108-23 @ 11:59 GMT Dec 24
- SUP 1: 108-13+ Low Dec 24
- SUP 2: 108-12+ 1.382 proj of the Oct 1 - 14 - 16 price swing
- SUP 3: 108-00 1.500 proj of the Oct 1 - 14 - 16 price swing
- SUP 4: 107-19+ 1.618 proj of the Oct 1 - 14 - 16 price swing
The trend condition in Treasury futures remains bearish, confirmed by the return lower on December 24th. For now, short-term gains are considered corrective. Last week’s sell-off reinforces the current bear cycle. The contract has traded through key short-term support and the bear trigger at 109-02+, the Nov 15 low. The breach confirms a resumption of the downtrend and opens 108+12+, a Fibonacci projection. On the upside, initial firm resistance is at 110-03+, the 20-day EMA.
LOOK AHEAD: Tuesday Data Calendar: Regional Fed Mfg, Tsy 2Y FRN & 5Y Note Sales
Dec-24 12:01
- US Data/Speaker Calendar (prior, estimate)
- Dec-24 0830 Philadelphia Fed Non-Manufacturing Activity (-5.9, --)
- Dec-24 1000 Richmond Fed Mfg Index (-14, -10)
- Dec-24 1000 Richmond Fed Business Conditions (10, --)
- Dec-24 1130 US Tsy $28B 2Y FRN & $70B 5Y Note auctions
EURIBOR OPTIONS: Call fly buyer
Dec-24 11:53
0NH5 96.10/96.30/96.40 broken c fly, bought for 4.25 in 2k.
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Dec-05 15:48
