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Technical analysis: Euribor Futures
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Euribor – March 2010
Thu, Nov 19 2009, 09:32 GMT
by Nicole Elliott
Comment: The German Treasury yield curve flattened over the last week as investors realise short-dates have little room for manoeuvre the closer they get to zero. This move should continue and gather pace, US TNotes leading the way so that these eventually yield less than their German counterparts. Slowly, and on rising open interest, the Euribor money market is beginning to understand that the ECB’s 1.00% target is not the lowest level for interest rates, the deposit rate currently paying 0.25%. Technically futures contracts are overbought but hopefully bullish momentum will increase pushing them higher, June10 and Sep10 with the better upside potential.
Strategy: Attempt small longs at 99.195/99.145; stop well below 99.090. First target 99.250/99.320 and possibly a little more.
Published on Thu, Nov 19 2009, 09:32 GMT
Archive
- Euribor – March 2010
Published On Thu, Nov 19 2009, 09:32 GMT - Euribor – March 2010
Published On Thu, Nov 12 2009, 08:27 GMT - Euribor – March 2010
Published On Thu, Nov 5 2009, 08:25 GMT - Euribor – March 2010
Published On Thu, Oct 29 2009, 08:48 GMT - Euribor – March 2010
Published On Thu, Oct 22 2009, 08:24 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
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The information contained in this page is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This page has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.Related reports
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