CHILE: CLP Slips to Session Low as Trump Tariff Excludes Refined Copper
Jul-30 18:13
- Outside of the move in BRL - CLP also briefly slips to a new daily low as the White House confirm the proclamation "TO ADDRESS EFFECTS OF COPPER IMPORTS ON AMERICA'S NATIONAL SECURITY, PROCLAMATION IMPOSES UNIVERSAL 50% TARIFFS ON IMPORTS OF SEMI-FINISHED COPPER PRODUCTS AND COPPER-INTENSIVE DERIVATIVE PRODUCTS EFFECTIVE AUGUST 1" - Reuters
- Most notably here, the proclamation excludes refined copper - potentially a softer tariff than expected - helping trigger downside in COMEX listed copper. COMEX Sep futures drop as much as 16% on the headline.
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PIPELINE: Corporate Bond Update: $4B SMFG 5Pt Launched
Jun-30 18:01
- Date $MM Issuer (Priced *, Launch #)
- 06/30 $4B #SMFG $700M 6NC5 +87, $900M 6NC5 SOFR+119, $700M 8NC7 +97, $700M 11NC10 +102, $1B 21NC20 +102
- 06/30 $2.5B Venture Global Plaquemines 8.5NCL 6.5%a, 10.5NCL 6.75%a
- 06/30 $1.5B *ABN Amro $750M 3Y +50, $750M 3Y SOFR+75
- 06/30 $1.25B #Niagara Mohawk Power $500M +5Y +85, $750M 30Y +120
- 06/30 $1B #SoftBank $500M 5Y +90, $500M 10Y +110
EURGBP TECHS: Bullish Trend Condition
Jun-30 18:00
- RES 4: 0.8648 76.4% retracement of the Apr 11 - May 29 downleg
- RES 3: 0.8624 High Apr 21
- RES 2: 0.8592 61.8% retracement of the Apr 11 - May 29 downleg
- RES 1: 0.8581 High Jun 30
- PRICE: 0.8577 @ 17:02 BST Jun 30
- SUP 1: 0.8507/8478 20- and 50-day EMA values
- SUP 2: 0.8459 Low Jun 11
- SUP 3: 0.8407 Low Jun 4
- SUP 4: 0.8356 Low May 29 and the bear trigger
The trend condition in EURGBP remains bullish and the cross is trading closer to its recent highs. Moving average studies have recently crossed and are currently in a bull-mode position - this reinforces the current uptrend. Scope is seen for a test of 0.8592 next, a Fibonacci retracement. On the downside, support to watch lies at 0.8478, the 50-day EMA. Clearance of this level would highlight a possible reversal.
CARNEY SAYS CANADA AND US MAKING PROGRESS TO FINAL TRADE DEAL
Jun-30 17:58
- CARNEY SAYS CANADA AND US MAKING PROGRESS TO FINAL TRADE DEAL
