Technical analysis: Euribor Futures
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Euribor – December 2008
Thu, Sep 4 2008, 07:52 GMT
by Nicole Elliott
Comment: German Treasury twos/tens are flat and Bobls yield less than either. How long will it take for thirty-year to wake up? Credit spreads started to widen again this month and we expect them to continue to do so. Pressure for year-end Euro funds remains high, and may become more difficult if the ECB tightens collateral criteria. Open interest in this contract has ballooned over the last week despite prices going nowhere. We appear to have formed an interim top just above the psychological level at 95.000 and look set to drift a little lower over the coming fortnight. We still favour a drift to 94.760/94.650 and a re-test of 94.500 cannot be ruled out.
Strategy: Attempt shorts at 94.920, adding to 95.000; stop above 95.105. Cover shorts between 94.760 and 94.640 and watch for signs of basing and consider going long.
Published on Thu, Sep 4 2008, 07:56 GMT
Archive
- Euribor – December 2008
Published On Thu, Dec 4 2008, 10:38 GMT - Euribor – December 2008
Published On Thu, Nov 27 2008, 10:05 GMT - Euribor – December 2008
Published On Fri, Nov 21 2008, 05:46 GMT - Euribor – December 2008
Published On Thu, Nov 13 2008, 08:56 GMT - Euribor – December 2008
Published On Thu, Oct 30 2008, 09:02 GMT
Mizuho Corporate Bank
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