GERMAN DATA: Weaker Than Expected IP, Focus On Durability Of Defence Bounce
Apr-09 07:07
German industrial production was weaker than expected in February at -0.3% M/M (vs 0.7% cons), thoug...
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MNI: NORWAY FEB CPI-ATE 3.0% Y/Y (3.4% JAN)
Mar-10 07:00
- MNI: NORWAY FEB CPI-ATE 3.0% Y/Y (3.4% JAN)
- NORWAY FEB CPI-ATE 0.7% M/M (0.3% JAN)
- NORWAY FEB CPI 2.7% Y/Y (3.6% JAN)
- NORWAY FEB CPI 0.6% M/M (0.6% JAN)
MNI: GERMANY JAN EXPORTS -2.3% M/M; IMPORTS -5.9% M/M
Mar-10 07:00
- MNI: GERMANY JAN EXPORTS -2.3% M/M; IMPORTS -5.9% M/M
- GERMANY JAN TRADE BALANCE EUR +21.2 BLN
EQUITY TECHS: E-MINI S&P: (H6) Bear Threat Remains Present
Mar-10 06:58
- RES 4: 6983.75 High Feb 25
- RES 3: 6894.74 50-day EMA
- RES 2: 6872.49 20-day EMAl
- RES 1: 6818.50 High Mar 9
- PRICE: 6791.00 @ 06:47 GMT Mar 10
- SUP 1: 6714.75 Low Mar 6
- SUP 2: 6583.00 Low Nov 21 ‘25 and a key medium-term support
- SUP 3: 6534.52 1.382 proj of the Feb 25 - Mar 3 - 5 price swing
- SUP 4: 6503.25 1.500 proj of the Feb 25 - Mar 3 - 5 price swing
A sharp bounce in S&P E-Minis on Monday appears corrective - for now - and this is allowing an oversold trend condition to unwind. The breach of 6751.50, the Feb 6 low, confirms a range breakout and highlights a stronger short-term bear threat. A resumption of weakness would open 6583.00, the Nov 21 ‘25 low and a key medium-term support. Initial firm resistance is 6894.74, the 50-day EMA
