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Lambert: Bund Futures in an uncertain market
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Clive Lambert is targeting a break in the bund futures market, as macro-economic events are making the market unstable.
With the upcoming ECB and BoE meetings, as well as the release of U.S. nonfarm payroll data out this Friday, he explains the market’s future looks unclear. The BoE is expected to guide interest rate expectations on Thursday while data on U.S. hiring is expected to have increased since January’s report, which hit a three-year low.
On the technical side, Clive noted a shooting star candlestick reversal in the bund futures on Tuesday. After having had a stellar run, the rejection of gains could have been profit taking. If support breaks at the 143.49 mark then Clive will be looking for increased pullback at 142.26 and 141.41.
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