HALISTER1: Bund Futures Extend Breakdown Below 55-DMA; May Test 162.88

Bund Futures Extend Breakdown Below 55-DMA; May Test 162.88

(Bloomberg) -- Bund futures clearing 163.87 support, leaving them exposed to steeper drop toward 162.88 Fibonacci level, Bloomberg technical analyst Sejul Gokal writes.
  • See chart here
  • Bund futures -92 ticks to 163.82
  • Generic contract penetrating the ichimoku cloud top/support and breaking the 55-DMA at 164.50, first time since April
  • German 10-year yield turns positive, first time since July 22, to test 100-DMA at 0.012%
  • Sellers pile in after “fake upside breakout” earlier in the week; ECB’s reluctance to signal additional monetary easing undercut investor confidence in its accommodative stance, driving yields higher
  • NOTE: Generic contract is roll-adjusted by difference on GFUT
  • NOTE: Sejul Gokal is an technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Story Link:NSN OD4NGF6TTDSG
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: Wholesale Inventories Due in 5 Minutes

U.S. ECO PREVIEW: Wholesale Inventories Due in 5 Minutes

(Bloomberg) -- Wholesale inventories seen at +0.1% in July after showing no change in June (forecast range -0.1% to +0.2%); wholesale inventories account for ~30% of total business inventories.
  • Inventory data help frame the govt’s GDP reports
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: CANADA ECO PREVIEW: Employment Data Due in 5 Minutes

CANADA ECO PREVIEW: Employment Data Due in 5 Minutes

(Bloomberg) -- Net change in employment seen at +14k in Aug. vs -31.2k in July (forecast range 5k to +35k).
  • Canada’s unemployment rate seen at 7% in Aug. vs 6.9% in July (forecast range 6.8% to 7%)
  • “Following the Bank of Canada’s dovish turn at its September meeting, more emphasis will be placed on a downside miss": TD Securities
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283