US: Biden's Approval Rating Continues To Slide As Default Looms
May-23 19:02
The debt limit showdown continues to weigh heavily on President Biden’s approval rating. According to the Real Clear Politics approval tracker, Biden’s approval rating has sunk three-percentage-points since mid-April.
- The data suggests that House Speaker Kevin McCarthy (R-CA) is winning the battle of political messaging and the gains Biden made since the 2022 midterm elections have been wiped out.
Figure 1: President Biden Approval Rating
Source: RealClearPolitics
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MNI: FED'S CIE INFLATION EXPECTATIONS INDEX EASED IN Q1 '23
Apr-21 21:01
- MNI: FED'S CIE INFLATION EXPECTATIONS INDEX EASED IN Q1 '23
- FED DATA: CIE INDEX DOWN 0.09PPT TO 2.22%, LOWEST SINCE Q2 '21
USDCAD TECHS: Tops Resistance At The 50-Day EMA
Apr-21 20:00
- RES 4: 1.3617 High Mar 29
- RES 3: 1.3582 50.0% retracement of the Mar 10 - Apr 14 bear leg
- RES 2: 1.3573 1.0% 10-dma envelope
- RES 1: 1.3563 High Apr 21
- PRICE: 1.3536 @ 16:42 BST Apr 21
- SUP 1: 1.3385/3302 Low Apr 19 / 14 and the bear trigger
- SUP 2: 1.3275 Low Feb 14
- SUP 3: 1.3262 Low Feb 2 and a key support
- SUP 4: 1.3226 Low Nov 15 2022
USDCAD maintains a firmer tone and the current correction remains intact. The pair has topped 1.3526 resistance - the 50-day EMA. A clear break of this hurdle would strengthen the current bull cycle and signal scope for a climb towards 1.3573, the 1.0% 10-dma envelope. For bears, a failure at the 50-day EMA would signal the end of the correction and attention would turn to the key support at 1.3302, the Apr 14 low.
MNI: TREASURY GENERAL ACCOUNT $280B APRIL 20 VS $265B PREV DAY
Apr-21 20:00
- MNI: TREASURY GENERAL ACCOUNT $280B APRIL 20 VS $265B PREV DAY
- TREASURY DATA: TGA TOTAL DEPOSITS $188B APRIL 20 VS $60B PREV
