WHITE HOUSE: "Debt Ceiling Solution Must Be Able To Secure Democratic Votes"
May-22 16:28
Reuters carrying comments from a White House official stating that, "any debt ceiling solution must be able to secure Democratic votes, not just House Freedom Caucus."
- The official continued, "[Speaker] McCarthy's [R-CA] team last week moved in more partisan direction, Biden continues to look for bipartisan solution to debt ceiling."
- "McCarthy’s team had proposed additional nutrition program cuts and annual funding caps three times longer than any recent budget deal."
- The comments come as negotiators emerge from a round of preparatory talks ahead of the key meeting between Biden and McCarthy scheduled to take place at 17:30 ET 22:30 BST.
- Jake Sherman at Punchbowl News reports that Rep Garret Graves (R-LA), McCarthy's representatives in talks, "just exited McCarthy's office, where Republicans were meeting with White House negotiators. The Louisiana Republican ignored all questions from reporters."
- Garret Haake at NBC: "Nobody talking to reporters at all. If you’re a tea leaf reader on this kind of thing, silence usually indicates more progress than chatter, but it’s [up in the air]."
- Rep Patrick McHenry (R-NC), one of the GOP negotiators, told reporters: “There’s still not agreement on a few major items and more work has to be done.”
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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
