RUSSIA: Kremlin-Sec. Guarantees 'Most Important' Part Of Deal; No NATO Troops
Aug-27 10:17
State-run Tass reporting comments from Kremlin spox Dmitry Peskov. Regarding the status of 'security guarantees' for Ukraine in the event of any potential peace deal, Peskov says that the guarantees will be the most important part of any eventual deal. Interfax reports Peskov saying "We have a negative attitude," towards Europe's stance on security guarantees that include troops on the ground in Ukraine. Peskov says "there is no European military, there are military of specific countries, and most of these countries are NATO members," claiming that NATO 'infrastructure' in Ukraine was one of the 'root causes' of the war.
- Peskov says that the heads of Russia's and Ukraine's working groups are in contact on a fourth round of talks between the two sides, but that no deate is agreed yet.
- Peskov: "Russia maintains its determination to resolve the conflict through political and diplomatic means, and for this, reciprocity from Ukraine is necessary."
- As part of Moscow's sustained efforts to try and drive a wedge between US President Donald Trump and European capitals, Peskov says Trump's "peacekeeping efforts" are "important and can really help resolve the complex conflict in Ukraine".
- President Vladimir Putin is set to travel to Tianjin, China over the weekend to take part in the Shanghai Cooperation Organisation (SCO) leaders' summit running 31 Aug-1 Sep. This will be followed by the Eastern Economic Forum (EEF) in Vladivostok from 4-5 Sep. Historically, Putin has used the EEF as an opportunity to deliver a wide-ranging address on economic and foreign policy, and so will be watched closely for comments on the war.
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OUTLOOK: Price Signal Summary - USDJPY Gains Expose The Bull Trigger
Jul-28 10:11
- In FX, EURUSD is trading lower today. The pair has breached support at the 20-day EMA, at 1.1684. The next key support to watch lies at the 50-day EMA, at 1.1559. A clear break of this average is required to signal a stronger reversal. Note that medium-term trend indicators continue to highlight a dominant uptrend. A resumption of gains would refocus attention on 1.1829, the Jul 1 high and the bull trigger.
- GBPUSD continues to trade below last week’s high and remains softer for now. Attention is on the bear trigger at 1.3365, the Jul 16 low. A break of it would confirm a resumption of the downleg that started Jul 1. This would open 1.3335 initially, the May 20 low. Note that a break of 1.3365 would also confirm a breach of the trendline drawn from the Jan 13 low - cancelling a false break scenario. Key short-term resistance is at 1.3589, the Jul 24 high.
- A bull cycle in USDJPY remains in place. Today’s strong start to the week signals the end of the corrective pullback between Jul 16 - 24. Attention is on key resistance and the bull trigger at 149.18, the Jul 16 high. A break of this hurdle would confirm a resumption of the uptrend. Pivot support to monitor is 146.01, the 50-day EMA. A clear breach of it would instead signal scope for stronger reversal. First support is at 146.76, the 20-day EMA.
BELGIUM AUCTION RESULTS: 5/10/30-Year OLOs
Jul-28 10:10
| 2.60% Oct-30 OLO | 3.10% Jun-35 OLO | 3.50% Jun-55 OLO | |
| ISIN | BE0000365743 | BE0000363722 | BE0000361700 |
| Amount | E1.065bln | E1.208bln | E735mln |
| Previous | E7bln | E1.075bln | E1.056bln |
| Avg yield | 2.570% | 3.185% | 4.061% |
| Previous | 2.623% | 3.085% | 3.562% |
| Bid-to-cover | 2.03x | 2.19x | 2.14x |
| Previous | 2.00x | 1.65x | |
| Avg Price | 100.147 | 99.285 | 90.385 |
| Low Price | 100.13 | 99.26 | 90.34 |
| Pre-auction mid | 100.004 | 99.023 | 89.966 |
| Prev avg price | 99.893 | 100.128 | 98.846 |
| Prev low price | 100.10 | 98.82 | |
| Prev mid-price | 99.868 | 98.479 | |
| Previous date | 14-May-25 | 23-Jun-25 | 22-Jul-24 |
MNI: UK CBI JUL DIST TRADE REPORTED SALES -34
Jul-28 10:00
- MNI: UK CBI JUL DIST TRADE REPORTED SALES -34
- UK CBI JUL DIST TRADE EXPECTED SALES -31
