COMMODITIES: WTI Rallies on Latest Russian Sanctions Pressure
Oct-23 08:36
A sharp pullback in Gold this week appears corrective - for now. Note that the trend is overbought and a deeper retracement would allow this condition to unwind. Support at the 20-day EMA, at $4037.8, has been pierced. A bearish theme in WTI futures remains intact despite the latest recovery - a correction. Moving average studies are in a bear-mode position, highlighting a dominant downtrend.
- WTI Crude up $2.31 or +3.95% at $60.75
- Natural Gas up $0.01 or +0.23% at $3.46
- Gold spot up $13.74 or +0.34% at $4113.99
- Copper up $8.55 or +1.71% at $508.7
- Silver up $0.67 or +1.37% at $49.1562
- Platinum up $22.48 or +1.38% at $1655.17
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GBP: Cable losses 20 pips post UK PMIs Data
Sep-23 08:35
- Cable drops 20 pips following the UK Data miss.
- For now it seems to be finding some demand at 1.3500, but further downside continuation will open to 1.3453 Low Sep 22.
EGB SYNDICATION: DDA: 30-year 3.50% Jan-56 DSL: Final guidance
Sep-23 08:26
- Guidance: 2.90% Aug-54 Bund + 20 to 21bps
- Prelim initial spread guidance yesterday was +18.5 to 22.5bps then revised to 19.5 to 22.5bps as books opened then 19.5 to 21.0bps
- Size: E4.0-5.0bln will be on offer (MNI assume takeup at the top of the target range)
- Books approaching E28bln
- Maturity: 15 January 2056
- ISIN: NL0015002P70
- The preliminary initial spread guidance is 2.90% Aug-54 Bund + 18.5 to 22.5bps.
- MNI expect books to close between 10:00BST / 11:00CET and 11:00BST / midday CET.
EGB SYNDICATION: DDA: 30-year 3.50% Jan-56 DSL: Revised guidance
Sep-23 08:18
- Guidance: 2.90% Aug-54 Bund + 19.5 to 21.0bps
- Prelim initial spread guidance yesterday was +18.5 to 22.5bps then revised to 19.5 to 22.5bps this morning
- Size: E4.0-5.0bln will be on offer (MNI assume takeup at the top of the target range)
- Books in excess of E25bln
- Maturity: 15 January 2056
- ISIN: NL0015002P70
- The preliminary initial spread guidance is 2.90% Aug-54 Bund + 18.5 to 22.5bps.
- MNI expect books to close between 10:00BST / 11:00CET and 11:00BST / midday CET.
