AUSTRALIA: VIEW: Westpac Sees Upside Risks To Its Q2 CPI Forecasts
May-28 05:19
Australia's April CPI inflation printed higher than expected and both the underlying trimmed mean an...
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BOBL TECHS: (M5) Key resistance Remains Intact
Apr-28 05:18
- RES 4: 120.20 High Dec 12 ‘24 (cont)
- RES 3: 120.000 Psychological round number
- RES 2: 119.960 High Apr 7 and the bull trigger
- RES 1: 119.780 High Apr 22
- PRICE: 119.540 @ 05:59 BST Apr 28
- SUP 1: 119.180 Low Apr 23
- SUP 2: 118.906 20-day EMA
- SUP 3: 118.060 Low Apr 10
- SUP 4: 117.680 Low Apr 9 and a key support
Bobl futures are unchanged and the contract is holding on to the bulk of its latest gains. A bull cycle remains in play. Recent weakness between Apr 7 - 9 appears corrective. The early April rally resulted in a break of key resistance at 119.040, the Feb 28 high. This strengthens bullish conditions. The focus is on the 120.000 handle next. Firm support lies at 117.680, the Apr 9 low. The 20-day EMA, an important short-term support, is at 118.906.
LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
Apr-28 05:18
| Date | Time | Country | Event |
| 28-Apr | 1400 | EU | ECB's de Guindos Presenting 2024 Annual Report |
| 29-Apr | 0700 | DE | GFK Consumer Climate |
| 29-Apr | 0800 | ES | HICP (p) / GDP (p) |
| 29-Apr | 0800 | EU | ECB's Cipollone On Financial and Trade Fragmentation |
| 29-Apr | 0900 | EU | M3 / Consumer Expectations Survey |
| 29-Apr | 0900 | IT | ISTAT Consumer/Business Confidence |
| 29-Apr | 1000 | EU | Consumer Confidence, Industrial Sentiment |
| 30-Apr | 0630 | FR | GDP (p) / Consumer Spending |
| 30-Apr | 0700 | DE | Import/Export Prices / Retail Sales |
| 30-Apr | 0745 | FR | HICP (p) / PPI |
| 30-Apr | 0855 | DE | Unemployment |
| 30-Apr | 0900 | DE | GDP (p) / State-level Inflation Data |
| 30-Apr | 0900 | IT | GDP (p) |
| 30-Apr | 1000 | IT | HICP (p) |
| 30-Apr | 1000 | EU | EMU Preliminary Flash GDP |
| 30-Apr | 1100 | IT | PPI |
| 30-Apr | 1300 | DE | HICP (p) |
JGBS: Twist-Steepener, Market Closed Tomorrow, BoJ Decision Thursday
Apr-28 05:15
JGB futures are stronger, +16 compared to the settlement levels, hovering just below Tokyo session highs.
- (MNI) The BoJ board is expected to keep its 0.5% policy interest rate unchanged at the two-day meeting ending May 1, as policymakers monitor the economic and inflationary impact of recent U.S. trade policies and volatile markets.
- Greater clarity on the economic outlook – particularly regarding the U.S. economy and Fed policy – is expected by July, when the BoJ releases its updated medium- to long-term growth and inflation forecasts. Should the U.S. fall into recession, it would likely remove any chance of a BoJ rate hike this year.
- Cash US tsys are 1-2bps cheaper, with a flattening bias, in today's Asia-Pac session after Friday's solid gains. GDP, ISM Manufacturing and NFM payrolls are the main events in this week's US calendar. Trump's first 100 days in office speech is tomorrow.
- Cash JGBs are 1-2bps richer out to the 20-year benchmark and 1-3bps cheaper beyond. The benchmark 10-year yield is 2.1bps lower at 1.321% versus the cycle high of 1.596%.
- Swap rates are 1-3bps lower. Swap spreads are mixed.
- Tomorrow, the local market is closed for the Showa Day holiday.
