LNG: Ichthys LNG Project Set to Resume Operations Soon

Republicans are expected to unveil a ‘clean’ short-term funding bill today to avert an October 1 government shutdown. House Republicans intend to put the bill, which extends funding through November 20, on the floor this week, teeing up a potential Senate vote late this week or next week, pending a decision on observing a planned weeklong recess for Rosh Hashanah.

• While the bill is expected to avoid policy riders, there has also been a push by Senator Lindsay Graham (R-SC) to attach his Russia sanctions bill. Its inclusion is unlikely without a surprise endorsement from President Donald Trump.
• The implied probability of a shutdown has receded to under 30%, despite a hardline position from Democrat leadership opposing a measure without agreement on extending expiring ‘Obamacare’ subsidies. 
• President Trump said Friday that Republicans shouldn’t “even bother” negotiating with Democrats, “We will get it through because the Republicans are sticking together.” Senate Minority Leader Chuck Schumer's (D-NY) spokesperson said, “If Republicans follow Donald Trump’s orders... they will be single-handedly putting our country on the path towards a shutdown.”
• In the House, Speaker Mike Johnson (R-LA) likely has a one-vote cushion, with all Democrats and Rep Thomas Massie (R-KY) expected to vote no. Despite Trump's comment, Senate Majority Leader John Thune (R-SD) needs at least seven Democratic votes in the Senate.
• Punchbowl notes, “A shutdown appears more likely than not at this point... Republicans and Democrats are heading in diametrically different directions right now, with each side comfortably betting on their own strategy.”

OAT Block trade, suggest seller:

• OATZ5 ~3.34k at 121.74.

• In FX, the trend theme in EURUSD remains bullish and the pair is trading closer to its recent highs. Resistance at 1.1743, the Aug 22 high, has recently been cleared reinforcing a bull cycle. This signals scope for 1.1829, the Jul 01 high and bull trigger. Clearance of this hurdle would confirm a resumption of the primary uptrend. Support to watch is the 50-day EMA, at 1.1639.
• A bullish theme in GBPUSD remains intact and price is trading at its recent highs. The rally that started Sep 3 has retraced the steep Sep 2 sell-off and highlights a stronger bullish development. This confirms the corrective cycle between Aug 14 - Sep 3 is over. Sights are on resistance at 1.3595 (pierced), the Aug 14 high and a bull trigger. A clear break of it would strengthen a bullish condition. Initial support to watch is 1.3475, the 50-day EMA.
• USDJPY continues to trade inside a range. Key short-term support to watch is 146.21, the Aug 14 low and a bear trigger. A break of this level would highlight a stronger bearish threat and a range breakout. This would expose 145.40, 50% of the Apr - Aug upleg. On the upside, clearance of 149.14, the Sep 3 high is required to reinstate a bullish theme. Note that moving average studies are in a bull-mode position, highlighting a dominant uptrend.