HUNGARY: European Commission Probing Allegations of Hungary Spying

Oct-09 12:14

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Per Politico, the European Commission has said it would probe reports that Hungary's government depl...

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US: MNI POLITICAL RISK - Miran On Track For Swift Fed Confirmation

Sep-09 12:06

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  • President Donald Trump is expected to take questions from reporters when he signs a proclamation at 16:30 ET 21:30 BST.
  • At 10:00 ET 15:00 BST, the BLS will release payroll revisions for the year ending March 2025. Trump advisors are preparing a report criticising the agency's jobs data.
  • The Supreme Court ruled that Trump can fire FTC Commissioner Rebecca Slaughter and overturned a lower court restriction on immigration raids in Los Angeles.
  • Trump is struggling to contain the fallout from the Epstein case but appears to have resolved a rift with conservative commentators, reducing his political exposure to the issue.
  • CEA Chair Stephen Miran appears set for a smooth confirmation to the Fed board after Senator Thom Tillis (R-NC) said he will vote in favour of Miran’s confirmation.
  • The Senate Banking Committee will vote on Miran’s confirmation tomorrow at 10:00 ET 15:00 BST, teeing up a full Senate vote on September 15, a day before the FOMC meeting.
  • Medicaid cuts could slow growth in health jobs.
  • South Korea’s foreign minister is in Washington to discuss an immigration raid that prompted a furious reaction in Seoul.
  • The risk of a government shutdown receded slightly after a 'four corners' meeting.
  • Defense Secretary Pete Hegseth made an unannounced visit to Puerto Rico as the US prepares to expand military operations against Latin American cartels.
  • Poll of the Day: Democrats view capitalism less favourably. 

Full Article: US DAILY BRIEF

GILT PAOF RESULTS: GBP60.0mln of the 4.75% Oct-43 Gilt sold.

Sep-09 12:01
  • GBP437.5mln have been on offer.
  • This means GBP34.875bln of the gilt remain in issue.

OUTLOOK: Price Signal Summary - Bear Threat In Oil Futures Still Present

Sep-09 11:52
  • On the commodity front, Gold remains in a clear bull cycle and last week’s gains plus Monday’s bullish start to the week, reinforce current conditions. The yellow metal has traded to a fresh all-time high. The break also confirms a resumption of the primary uptrend and an extension of the sequence of higher highs and higher lows. The next objective is $3674.8, a 2.382 projection of the Dec 30 ’24 - Apr 3 - 7 price swing. Initial firm support lies at $3458.7, the 20-day EMA.
  • In the oil space, the trend condition in WTI futures is unchanged - a bear cycle remains intact. The pullback from last Tuesday’s high highlights a possible reversal and the end of the corrective phase. Initial resistance to watch is $66.03, the Sep 2 high. Key short-term resistance has been defined at $69.36, the Jul 30 high. A stronger resumption of weakness would pave the way for a move towards $57.71, the May 30 low.