AUSSIE 3-YEAR TECHS: (Z5) Struck by Strong CPI
- RES 3: 97.796 - 1.618 proj of the Sep 3 - 12 - 15 price swing
- RES 2: 96.780 - High Jun 26 (cont)
- RES 1: 96.700 - High Sep 12
- PRICE: 96.375 @ 16:13 GMT Oct 31
- SUP 1: 96.280 - Low May 15 (cont.)
- SUP 2: 95.900 - Low Jan 14 (cont.)
- SUP 3: 95.760 - Low 14 Nov ‘24
Having bounced well on the back of the mild US CPI print, Aussie 3-yr futures reversed course Wednesday on strong domestic inflation data containing RBA cut pricing through 2026. This keeps prices well below prior resistance at 96.615, the Sep 12 high, and refocuses attention on 96.280 as the next major support.
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JGB TECHS: (Z5) Bearish Trend Sequence Intact
- RES 3: 140.08 High Jun 13
- RES 2: 139.05 High Aug 4
- RES 1: 137.30 - High Sep 8 and key short-term resistance
- PRICE: 135.85 @ 16:05 BST Oct 01
- SUP 1: 135.67 - Low Sep 26
- SUP 2: 135.39 - 1.618 proj of the Aug 4 - Sep 2 - Sep 8 swing (cont.)
- SUP 3: 134.69 - 2.000 proj of the Aug 4 - Sep 2 - Sep 8 swing (cont.)
A bear threat in JGB futures remains present and the contract has pulled back from its recent highs. The latest sell-off has also resulted in a break of support at 136.19, the Sep 4 low and a bear trigger. Clearance of this level confirms a resumption of the downtrend and opens 135.39 next, a Fibonacci projection. Key short-term resistance has been defined at 137.30, the Sep 8 high.
ASIA: Government Bond Issuance Today
- South Korea to Sell KRW100bn 10-Year Inflation-Linked Bonds
- Bank Indonesia to Sell 31D SVBI Bills
- Bank Indonesia to Sell 182D SVBI Bills
- Bank Indonesia to Sell 273D SVBI Bills
- Bank Indonesia to Sell 92D SVBI Bills
- Bank Indonesia to Sell 365D SVBI Bills
- Malaysia to Sell MYR1bn of 61-Days Bills
- Bank of Thailand to Sell THB25bn of 182-Days FRNs
- Bank of Thailand to Sell THB20bn of 2-Yrs FRNs
ASIA: Coming Up in Asia Today
| 0000GMT | 0700HKT | 0900AEDT | South Korea BoP Current Account Balance AUGUST |
| 0000GMT | 0700HKT | 0900AEDT | South Korea BoP Goods Balance AUGUST |
| 0000GMT | 0700HKT | 0900AEDT | South Korea CPI MoM SEPTEMBER |
| 0000GMT | 0700HKT | 0900AEDT | South Korea CPI YoY SEPTEMBER |
| 0000GMT | 0700HKT | 0900AEDT | South Korea CPI Ex Food and Energy YoY SEPTEMBER |
| 0930GMT | 1630HKT | 1830AEDT | Hong Kong Retail Sales Value YoY AUGUST |
| 0930GMT | 1630HKT | 1830AEDT | Hong Kong Retail Sales Volume YoY AUGUST |
| 1400GMT | 2100HKT | 2300AEDT | Singapore Purchasing Managers Index SEPTEMBER |
| 1400GMT | 2100HKT | 2300AEDT | Singapore Electronics Sector Index SEPTEMBER |
source: Bloomberg Finance LP / MNI
