IRAN: IAEA Res. Calls For Update On Enriched Uranium & Bombed Nuclear Sites
Nov-20 10:50
Reuters reports the International Atomic Energy Agency (IAEA) Board of Governors has passed a resolution demanding Iran inform the IAEA "without delay" of the status of its enriched uranium stock and bombed nuclear facilities. On the board, 19 votes in favour of the resolution, which was submitted by the US and E3, with three voting against and 12 abstentions, according to diplomats.
- The resolution does not say that Iran is in breach of its safeguarding obligations (as it had in June prior to the 12-Day War), but Iran warned of retaliation.
- Iran's permanent mission to UN agencies in Vienna posted on X, "This action, another major mistake after so-called snapback, constitutes yet a new deliberate attempt to politicize the Board. These confrontational tactics are misguided and will yield no advantage whatsoever to them. Should this draft resolution be adopted, it will unavoidably and adversely affect the positive course of cooperation between Iran and the IAEA."
- The resolution calls for Tehran to implement the 'Additional Protocol', which, as Reuters reports, "grants the IAEA broader and more intrusive oversight of a country's nuclear activities, such as the power to carry out snap inspections at undeclared locations."
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BOE: Bailey and Breeden headlines starting to hit
Oct-21 10:50
- First headlines are coming from Bailey and Breeden testifying ahead of the Lords Select Financial Services Regulation Committee.
- This is not necessarily the forum for either to discuss anything on monetary policy – and Bailey's unlikely to say any more on the topic than he did last week.
BTP: Block trade
Oct-21 10:47
BTP Block trade, suggest seller:
- IKZ5 2k at 121.65.
OUTLOOK: Price Signal Summary - USDJPY Rebound Extends
Oct-21 10:46
- In FX, the latest recovery in EURUSD signals a potential reversal and undermines a recent bearish theme, suggesting the corrective cycle between Sep 17 - Oct 9, may be over. Note that moving average studies are in a bull-mode position - for now - highlighting a dominant medium-term uptrend. A resumption of gains would open 1.1775 next. Key support and the bear trigger lies at 1.1542, the Oct 9 low. A break resumes a bear cycle.
- Recent gains in GBPUSD appear corrective - for now. However, price has recently pierced resistance around the 50-day EMA, currently at 1.3448. A clear break of this average would highlight a stronger reversal and expose resistance at 1.3527, the Oct 1 high and a pivot level. Clearance of this hurdle would be bullish. On the downside, key support and the bear trigger is 1.3249, the Oct 14 low.
- The recovery from last Friday’s low in USDJPY is beginning to highlight a stronger bullish signal. The pair has found support below the 20-day EMA and note that Friday’s price pattern is a hammer candle formation. If correct, the pattern signals the end of a corrective pullback that started Oct 10, and highlights the fact that support at the 50-day EMA, at 148.94, remains intact. The bull trigger is at 153.27, the Oct 10 high. The 50-day EMA is key support.
