By Andrew M Spencer — Nov 16 - 07:00 PM
Steady after closing up just 0.05%, consolidating Tuesday's gains
Yield spreads tightened, 10yr bund -5bp 2.588% and 10yr UST -9bp to 4.441%
U.S. jobs and inflation supported the view that the Fed has ended rate rises
Charts - momentum studies plus 5, 10 & 21-day moving averages climb
21-day Bollinger bands expand - signals show a positive trending setup
Targets a test of 1.0959 61.8% of the 2023 fall in July and October
Close below the 1.0804 200-day moving average would end the topside bias
1.0825 1.259BLN, 1.0850 1.295BLN and 1.0875 1.037BLN close strikes Nov 17th
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Source:
Refinitiv IFR Research/Market Commentary