SECURITY: Kremlin Expects To Agree On Next Round Of Ukraine Talks, Next Week
Jun-20 08:55
Kremlin spokesperson Dmitri Peskov has spoken on conflicts in the Middle East and Ukraine. Peskov declined to predict a meeting between Russian President Vladimir Putin and US President Donald Trump happening this year, noting “complex work” is needed before a meeting could take place, per Reuters.
- Peskov said the Kremlin hopes to agree on a new date soon to resume talks with US on removing “irritants” in relations. Peskov noted that “dialogue with Ukraine continues,” and the Kremlin expects to “agree next week” on a date for the next round of talks.
- On Israel-Iran, Peskov said Putin offered his services as mediator, but it is “hard to say if his offer will be taken up,” adding that “so far we see Israeli desire to continue military action” but “there is always hope, and potential for diplomatic efforts”.
- PBS reports that Moscow shared a proposal with Iran, Israel, and US, “that could allow Tehran to pursue a peaceful atomic program while assuaging Israeli security concerns.”
- Putin said: “...we are simply talking about how we see a possible way out of the situation. But the decision, of course, is up to the political leadership of all these countries, primarily Iran and Israel.”
- On Wednesday, Trump appeared to reject the offer of mediation, saying he told Putin in a call: “I said, ‘Do me a favor, mediate your own... let’s mediate Russia first...’”
- While Russia and Iran have a “strategic partnership” treaty, there have been no signs yet that Moscow has offered Tehran military assistance. Russia, a signatory to the 2015 Iran nuclear deal, has worked with the US in the past on curbing Iran’s nuclear programme.
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COMMODITIES: WTI Futures Trade to Fresh Short-Term Cycle High
May-21 08:49
- WTI futures have traded to a fresh short-term cycle high today and maintain a bullish theme. However, the recovery since Apr 9, still appears corrective. Key resistance to watch is $62.87, the 50-day EMA. It has been pierced, a clear break of it would highlight a stronger reversal. This would open $65.82, the Apr 4 high. For bears a reversal lower would refocus attention on $54.33, the Apr 9 low and bear trigger.
- Gold has recovered from its recent lows and is trading higher today. The climb signals the end of the corrective phase between Apr 22 - May 15. Medium-term trend signals remain bullish - moving average studies are in a bull-mode position highlighting a dominant uptrend. A continuation would open $3435 next, the May 7 high. Key support and the bear trigger has been defined at $3121.0, the May 15 low.
EQUITIES: Bullish Trend Condition in E-Mini S&P Remains Intact
May-21 08:49
- A bullish theme in Eurostoxx 50 futures remains intact and price is trading at its recent highs. The contract is extending the recent breach of 5263.01, 76.4% of the Mar 3 - Apr 7 bear leg, and maintains the sequence of higher highs and higher lows. Sights are on 5516.00, the Mar 3 high and the key bull trigger. Key support to watch lies at 5201.23, the 50-day EMA. Clearance of this level would signal a possible reversal.
- A bullish trend condition in S&P E-Minis remains intact and the contract is trading closer to its recent highs. An important resistance at 5837.25, the Mar 25 high and a bull trigger, has been cleared. This has strengthened the current bullish theme, and paves the way for a continuation near-term. Sights are on the 6000.00 handle next. Initial firm support to watch lies at 5703.54, the 50-day EMA.
UK DMO UPDATE: Gilt Auction Bidding Window Extended
May-21 08:46
The DMO announced that "due to the ongoing market-wide Bloomberg system issues, the bidding window for this morning's auction of the 4% 2031 is being extended. We expect the close time of the auction bidding window to be 11:30am, subject to Bloomberg systems issues being resolved. The UK Debt Management Office will share further details as soon as possible"
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