EUROZONE T-BILL ISSUANCE: W/C March 24, 2025
Mar-26 06:40
Greece and Italy are both still due to sell bills this week, while Germany, France and Austria have already come to the market this week. We expect issuance to be E21.4bln in first round operations, up from E19.4bln last week.
- Today, Greece will issue E500mln of the new 26-week Sep 26, 2025 GTB.
- Tomorrow, Italy will come to the market to sell E7bln of the new 6-month Sep 30, 2025 BOT.
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LOOK AHEAD: UK Timeline of Key Events (GMT Times)
Feb-24 06:23
| Date | UK | Period | Event |
| 24-Feb | 0900 | BOE's Lombardelli remarks at BOE BEAR Conference | |
| 24-Feb | 1315 | BOE's Ramsden & Saporta on CB Balance sheet during QT | |
| 24-Feb | 1800 | BOE's Dhingra on state of the UK monetary policies | |
| 25-Feb | 1100 | Feb | CBI Distributive Trades |
| 25-Feb | 1400 | BOE's Pill remarks at BEAR Conference | |
| 26-Feb | 1630 | BOE's Dhingra on Trade fragmentation and monetary policy | |
| 28-Feb | 0700 | BOE's Ramsden speech on MonPol in geopolitical fragmentation | |
| 03-Mar | 0930 | Jan | BOE Lending to Individuals/ M4 |
| 03-Mar | 0930 | Feb | S&P Global Manufacturing PMI (Final) |
| 04-Mar | 0001 | Feb | BRC Monthly Shop Price Index |
| 05-Mar | 0930 | Feb | S&P Global Services/ Composite PMI (Final) |
| 06-Mar | 0930 | Feb | Decision Maker Panel data |
| 06-Mar | 0930 | Feb | S&P Global/CIPS Construction PMI |
| 07-Mar | 1500 | BOE's Mann lecture at RBNZ on 'holding anchor' | |
| 11-Mar | 0001 | Feb | BRC-KPMG Shop Sales Monitor |
| 12-Mar | 0730 | DMO propose calendar for first 3 weeks of FY25/26 |
SCHATZ TECHS: (H5) Resistance Remains Intact For Now
Feb-24 06:21
- RES 4: 107.081 61.8% retracement of the Dec 2 ‘24 - Jan 15 bear leg
- RES 3: 107.045 High Feb 3 and a key resistance
- RES 2: 106.975 High Feb 10
- RES 1: 106.855 High Feb 12 / 21 and a key near-term resistance
- PRICE: 106.775@ 06:03 GMT Feb 24
- SUP 1: 106.630 Low Feb 20 and a key near term support
- SUP 2: 106.600 Low Jan 31
- SUP 3: 106.515 Low Jan 30
- SUP 4: 106.435 Low Jan 15 and a bear trigger
A bull cycle that began Jan 15 in Schatz futures remains in play, marking the pullback from the early February highs as corrective - for now. However, recent weakness also highlights a bear threat and support to watch lies at 106.630, the Feb 20 low. Clearance of this level would resume a bear cycle and signal scope for a deeper retracement. For bulls, initial firm resistance to watch is 106.855, the Feb 12 high. A break would be bullish.
LOOK AHEAD: Eurozone Timeline of Key Events (GMT Times)
Feb-24 06:18
| Date | Time | Country | Event |
| 24-Feb | 900 | DE | IFO Business Climate Index |
| 24-Feb | 1000 | EU | HICP (f) |
| 24-Feb | 1400 | BE | BNB Business Confidence |
| 25-Feb | 700 | DE | GDP (f) |
| 25-Feb | 1300 | EU | ECB's Schnabel at BOE's Conference on Balance Sheet |
| 26-Feb | 700 | DE | GFK Consumer Climate |
| 26-Feb | 745 | FR | Consumer Sentiment |
| 26-Feb | 800 | ES | PPI |
| 26-Feb | EU | ECB's Lagarde & Cipollone in G20 FMs/ CB Governors meeting | |
| 27-Feb | 745 | FR | PPI |
| 27-Feb | 800 | ES | HICP (p) |
| 27-Feb | EU | M3 | |
| 27-Feb | 900 | IT | ISTAT Consumer/ Business Confidence |
| 27-Feb | 1000 | EU | Consumer Confidence, Industrial Sentiment |
| 27-Feb | 1230 | EU | Publication of MonPol Meeting Account |
