Australian Bonds Plunge Tracking Weakness in U.s. Treasuries Post 2-Year Auction

Trading 24 mai 2017 Commentaire »

The Australian bonds plunged Wednesday tracking weakness in the United States counterpart after a solid supply at the 2-year debt auction held late yesterday. Also, with members of the OPEC set to meet in Vienna this Thursday, investors will keep a keen eye on the oil market this week.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, jumped nearly 4 basis points to 2.49 percent, the yield on the 15-year note climbed 3-1/2 basis points to 2.91 percent and the yield on short-term 2-year traded nearly 1 basis point higher at 1.62 percent by 03:30 GMT.

The Treasury Department auctioned USD26 billion in two-year notes at a high yield of 1.316 percent, its highest since September 2008. The bid-to-cover ratio, an indicator of demand, was 2.90, its highest since May 2016.

Further, U.S. government debt prices erased slight gains on Tuesday, as investors digested news out of Donald Trump's first overseas trip as President as well as fresh supply. Lastly, markets will now focus on the speech of Reserve Bank of Australia’s (RBA) Assistant Governor Debelle, scheduled to be held on May 25 for further direction in the debt market.

Meanwhile, the ASX 200 index traded 0.32 percent down at 5,765.50 by 03:40GMT, while at 03:00GMT, the FxWirePro's Hourly AUD Strength Index remained slightly bearish at -75.30 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex


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10-Year U.s. Treasury Yield at 2.279 Percent Vs U.s. Close of 2.283 Percent on Tuesday

Trading 24 mai 2017 Commentaire »
10-YEAR U.S. TREASURY YIELD AT 2.279 PERCENT VS U.S. CLOSE OF 2.283 PERCENT ON TUESDAY
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Fxwirepro: Singapore Dollar Erases Previous Gain Against U.s. Dollar, Short Term Trend Reversal Likely

Trading 24 mai 2017 Commentaire »
  • USD/SGD is currently trading around 1.3904 marks.  
  • It made intraday high at 1.3918 and low at 1.3890 levels.  
  • Intraday bias remains slightly bullish till the time pair holds key support at 1.3856 marks.   
  • A daily close above 1.3900 will test key resistances at 1.3934, 1.3988, 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.  
  • Alternatively, a consistent close below 1.3900 will drag the parity down towards key supports at 1.3851/1.3838/1.3776/1.3704/1.3631 levels respectively.  
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take long position in USD/SGD around 1.3900, stop loss 1.3856 and target of 1.3959.


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Eurozone Leading Index Rises In April

Trading 24 mai 2017 Commentaire »

A measure of future economic activity in Eurozone increased further in April, survey figures from the Conference Board showed Tuesday.

The Conference Board's Leading Economic Index, or LEI, for the euro area climbed 0.7 percent monthly in April, following a 0.6 percent rise each in February and March.

The coincident index, which measures current economic activity, edged up 0.1 percent in April, after remaining flat in the preceding month.


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Fxwirepro: Aud/nzd Breaks Major Support at 1.0650, Bias Lower, Stay Short

Trading 24 mai 2017 Commentaire »
  • AUD/NZD has shown a break below major support at 1.0650, intraday bias lower.  
  • The antipodeans weaker after Moody’s downgraded China’s rating.  
  • Moody’s has downgraded China’s long-term local currency and foreign currency issuer ratings to A1 from Aa3 and changed the outlook to Stable from Negative.   
  • Further New Zealand reported April trade surplus at 2-year high of $578 million, the highest since 2015, adding downside pressure on the pair.  
  • The pair was rejected at 50-DMA on May 19th and we have seen a decisive break below 100-DMA on Monday's trade.  
  • Technical indicators on the weekly charts are also bearishly aligned. Next major support below 1.0650 lies at 200-DMA at 1.0598. 

Support levels - 1.0628 (61.8% Fib of 1.0237 to 1.1019 rise), 1.0598 (200-DMA), 1.0535 (61.8% Fib) Resistance levels - 1.0650 (trendline), 1.0700 (5-DMA), 1.0720 (38.2% Fib), 1.0753 (20-DMA) Call update: We had advised a short in our previous call (http://www.econotimes.com/FxWirePro-AUD-NZD-finds-major-support-at-10650-good-to-go-short-on-break-below-717163). Recommendation: We recommend holding for targets. FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -75.3083 (Bearish), while Hourly NZD Spot Index was at 95.254 (Bullish) at 0330 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.   


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India Cenbank says Banks’ Cash Balances 4.52 Trln Rupees on may 19

Trading 24 mai 2017 Commentaire »
INDIA CENBANK SAYS BANKS' CASH BALANCES 4.52 TRLN RUPEES ON MAY 19
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India Cenbank says Banks’ Cash Balances 4.52 Trln Rupees on may 19

Trading 24 mai 2017 Commentaire »
INDIA CENBANK SAYS BANKS' CASH BALANCES 4.52 TRLN RUPEES ON MAY 19
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India Govt Surplus Cash Balance With Rbi for Auction Was Nil As on may 23 &#150 Cenbank

Trading 24 mai 2017 Commentaire »
INDIA GOVT SURPLUS CASH BALANCE WITH RBI FOR AUCTION WAS NIL AS ON MAY 23 – CENBANK
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India Cenbank says may 23 Refinance 16.12 Bln Rupees

Trading 24 mai 2017 Commentaire »
INDIA CENBANK SAYS MAY 23 REFINANCE 16.12 BLN RUPEES
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Indian Banks Did Not Borrow Via Marginal Standing Facility on may 23 &#150 Rbi

Trading 24 mai 2017 Commentaire »
INDIAN BANKS DID NOT BORROW VIA MARGINAL STANDING FACILITY ON MAY 23 – RBI
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