skip to main content
Close Icon We use cookies to improve your website experience.  To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy.  By continuing to use the website, you consent to our use of cookies.
Global Search Configuration
  • The ratio (Cash Gold/Comex Copper) fell from 6.48 (6 Sep 16, 8yr high) via a 2-1/2mth double top under 5.09 (18 Apr/6 Jun highs) to breach a multi-tested 10-year rising trendline at 4.50
  • Given the deteriorating daily-monthly studies, watch for initial tests of the 2016 low at 4.35 (posted 15 Dec, also the 2-1/2mth double top minimum target)
  • A sustained break of the latter risks 4.01/4.03 (30 Apr 15 low / .5x 6.348/4.35 off 5.09), under which exposes 3.77/3.79 (5 Nov 14 low / .618x 6.48/4.35 off 5.09)
  • From here only a break over the double top trigger at 4.72 (1 May former low) would offer initial relief back towards 5.09

Recommended Articles

  • IGM Credit, IGM FX and Rates

    The Context 10.19.20

    19 Oct 2020

    Read more from The Context and subscribe to have it delivered to your inbox each week!

    Topics Industry News

  • IGM FX and Rates

    APAC FX Focus: AUD/USD can fall further despite supportive commodity prices

    By Jonathan Cavenagh 19 Oct 2020

    Yield momentum has clearly shifted against AUD/USD as the market moves to price in fresh easing in November’s meet. Higher commodities still underpin higher levels of AUD/USD fair value and will act as medium-term support. This is however unlikely to prevent lower A$ levels in the near term. Read more...

    Topics Industry News

  • IGM Credit, IGM FX and Rates

    China Insight: Bond market bearishness intensifies

    19 Oct 2020

    Recall, we delivered the below predictions respectively in two issues of this publication last month: - 11 September -- "Despite the downward pullback of the yield in recent days, we still stick with our cautiously bearish view on the bonds. We won't be surprised if the 10-year CGB yield finally reaches 3.25% or higher in Q4 if the prevailing mini-deleveraging cycle continues". - 18 September -- "In our view, continued reluctance of PBOC to act generously will reinforce the market perception that monetary easing cycle is already over and borrowing costs will be gradually creeping upward. In case of that, there is a good chance we will see a strong selloff in bonds in October". Basically, both predictions have already materialized as 10-year CGB yield already reached as high as 3.23%, fresh high of the year, in the middle of this month (October). That's 11bp higher than September 18's closing level...

    Topics Industry News

;

Any questions? Speak to a specialist

Would you like to request sample data or analysis from Informa Financial Intelligence? 

See how our tailored solutions can help you gain a competitive advantage: