OIL PRODUCTS: World Gasoline Imports Rise Between September and December 2022
Jan-11 10:55
source: Vortexa
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OUTLOOK: Price Signal Summary - Oil Futures Remain Vulnerable
Dec-12 10:50
- On the commodity front, Gold remains in an uptrend and recent weakness appears to have been a correction. The yellow metal recently breached $1786.5, the Nov 15 high and a bull trigger. Sights are on resistance at $1807.9, Aug 10 high that was pierced on Dec 5. A clear break would be bullish. Initial support is at $1761.8, the 20-day EMA.
- In the Oil space, WTI remains vulnerable and the impulsive sell-off last week reinforces a bearish theme. The focus is on a move to test and break the psychological $70.00 handle. Key resistance is at $81.73, the 50-day EMA. Initial resistance is at the 20-day EMA, at $78.23.
DUTCH T-BILL AUCTION RESULTS: 2.5/4.5/5.5-month DTCs
Dec-12 10:43
| Type | 2.5-month DTC | 4.5-month DTC | 5.5-month DTC |
| Maturity | Feb 27, 2023 | Apr 27, 2023 | May 30, 2023 |
| Amount | E640mln | E650mln | E550mln |
| Target | E1-2bln | E1-2bln | E0-1bln |
| Previous | E1.5bln | E1.5bln | E1.27bln |
| Avg yield | 1.525% | 1.900% | 2.000% |
| Previous | 1.350% | 1.730% | 1.950% |
| Bid-to-cover | 1.41x | 1.57x | 1.6x |
| Previous | 1.70x | 1.70x | 1.19x |
| Previous date | Dec 05, 2022 | Nov 07, 2022 | Nov 21, 2022 |
OUTLOOK: Price Signal Summary - Gilt Futures Trend Needle Still Points North
Dec-12 10:38
- In the FI space, Bund futures trend direction is up and the latest pullback is considered corrective. Resistance at 141.94, the Nov 24 high, has recently been breached and moving average studies have crossed, to highlight a bull mode condition. Potential is seen for a climb to 143.00. Firm support has been defined at 139.13, the Nov 28 low.
- Gilt futures are consolidating but the trend outlook is bullish and a positive price sequence of higher highs and higher lows remains intact. The bull trigger for a continuation of gains is 107.06, the Nov 24 high. Initial firm support lies at 104.79, the Nov 30 low.
