INTERNATIONAL TRADE: Canadian PM-US Cannot Dictate Terms Of USMCA Review

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• President Donald Trump will travel from Palm Beach, Florida, to Memphis, Tennessee, this morning, where he will participate in the ‘Memphis Safe Task Force Roundtable,’ at 13:00 ET 17:00 GMT.
• After a weekend of mixed messages, Trump prompted a surge in markets this morning with a message on Truth Social claiming that negotiations with Iran are underway aimed at a “total resolution” of hostilities.
• Trump’s statement appears to be a major dovish turn from the US, particularly a first public acknowledgement from the White House that the US and Iran are engaged in talks. But there are numerous moving parts to align before a ceasefire can be agreed, and analysts broadly agree that there is no straightforward off-ramp to the war.
• ICE agents have begun deploying at some US airports. The Senate will gavel in at 15:00 ET 19:00 GMT, to wrap up debate on Senator Markwayne Mullin’s (R-OK) nomination to serve as DHS Secretary. A bipartisan group of senators are scheduled to meet with Border Czar Tom Homan today to continue negotiations on an expanded immigration enforcement offer the White House.
• The Senate enters a second week of debate on the SAVE America Act, with a vote on requiring the use of photo ID to vote expected as soon as Wednesday.
• A broad banking deal could help unlock the Senate's bipartisan housing package in the House.
• Poll of the Day: Trump’s approval rating hit a new low of net -15.7%.

Full Article: US DAILY BRIEF

Schatz Swap related trade, suggest Payer:

• DUM6 ~8.3k at 105.84.

• RES 4: $4969.0 - 20-day EMA
• RES 3: $4899.7 - 50-day EMA 
• RES 2: $4735.7 - High Mar 20  
• RES 1: $4655.7 - Low Feb 6                        
• PRICE: $4431.5 @ 13:21 GMT Mar 23 
• SUP 1: $4099.2 - Intraday low
• SUP 2: $4000.00 Round number support
• SUP 3: $3945.2 - 1.236 proj of the Jan 29 - Feb 2 - Mar 2 price swing
• SUP 4: $3771.1 - 1.382 proj of the Jan 29 - Feb 2 - Mar 2 price swing

A bear cycle in Gold remains intact and today’s volatile recovery from its intraday low, appears corrective. Note that the short-term trend condition is oversold and a stronger corrective bounce would allow this condition to unwind. Initial resistance is at $4655.7, the Feb 6 low. Key near-term resistance is at 4899.7, the 50-day EMA. For bears, a resumption of the bear leg would open $3945.2, a Fibonacci projection.