FED: US TSY 29Y-10M BOND AUCTION: HIGH YLD 5.058%; ALLOT 7.13%
Jul-09 17:02
* US TSY 29Y-10M BOND AUCTION: HIGH YLD 5.058%; ALLOT 7.13% * US TSY 29Y-10M BOND AUCTION: DEALERS T...
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FED: US TSY 3Y NOTE AUCTION: HIGH YLD 4.192%; ALLOTMENT 42.92%
Jun-09 17:02
- US TSY 3Y NOTE AUCTION: HIGH YLD 4.192%; ALLOTMENT 42.92%
- US TSY 3Y NOTE AUCTION: DEALERS TAKE 15.28% OF COMPETITIVES
- US TSY 3Y NOTE AUCTION: DIRECTS TAKE 21.01% OF COMPETITIVES
- US TSY 3Y NOTE AUCTION: INDIRECTS TAKE 63.71% OF COMPETITIVES
- US TSY 3Y AUCTION: BID/CVR 2.64
EURUSD TECHS: Bearish Trend Cycle
Jun-09 17:00
- RES 4: 1.1797 High May 06
- RES 3: 1.1701 Top of a bear channel drawn from the Apr 17 high
- RES 2: 1.1654/1686 50-day EMA / High May 29
- RES 1: 1.1576 Low May 21
- PRICE: 1.1553 @ 16:40 BST Jun 9
- SUP 1: 1.1500 Low Jun 08
- SUP 2: 1.1443 Low Mar 30
- SUP 3: 1.1411 Low Mar 13 and 16 and a key M/T support
- SUP 4: 1.1373 1.764 proj of the Jan 27 - Feb 6 - 10 price swing
A bear threat in EURUSD remains present. Last week’s move down confirmed a resumption of the downtrend and the pair is trading closer to its recent lows. A channel base at 1.1537, has been breached. The channel is drawn from 1.1849, the Apr 17 high. This paves the way for an extension towards the next key support at 1.1411, the Mar 13 and 16 low. Resistance to watch is 1.1654, the 50-day EMA, and 1.1686, the May 29 high.
FOREX: USD Extends Intra-Day Recovery Following Trump’s Latest Post
Jun-09 16:55
- Weakness for stocks has been a prominent feature of the US session on Tuesday, and the latest remarks from Trump on responding to Iran’s latest attack on a US helicopter have seen this equity weakness extend. This has prompted a turn higher for the US dollar, with the DXY returning to unchanged levels on the session just above the 100 mark.
- With risk sentiment dented, Scandinavian currencies are the weakest performers across the G10, closely matched by the Australian dollar.
- For AUDUSD, spot levels of 0.7012 represent 8-week lows for the pair. The sharp sell-off on Friday highlighted a clear break of the 50-day EMA (intersecting now around 0.7120), and the break of this average has prompted a deeper retracement. The next downside levels of note are 0.6986, the Apr 13 low and 0.6938, the 76.4% retracement of the Mar 30 - May 6 bull leg.
- Relative underperformance compared to its antipodean counterpart has seen AUDNZD move 0.4% lower on the session. Potentially assisting this theme was a change of call by analysts at National Australia Bank (NAB), who no longer expect the RBA to hike by 25bp in Aug, and believe the next move for the cash rate is likely to be down.
