US: MNI POLITICAL RISK - Mixed Messages From US-Iran Nuclear Talks

Feb-18 13:14

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  • President Donald Trump will participate in a Black History Month event at 14:00 ET 19:00 GMT, before participating in what the White House calls ‘signing time’ at 16:00 ET 21:00 GMT and a policy meeting at 16:30 ET 21:30 GMT. Press Secretary Karoline Leavitt will brief reporters at 13:00 ET 18:00 GMT.
  • Trump will deliver remarks on the economy and affordability in Georgia tomorrow.
  • The US carried out three more lethal strikes on alleged drug boats in the Eastern Pacific and Caribbean.
  • Energy Secretary Chris Wright warned the US could withdraw from the International Energy Agency unless the organisation scales back climate advocacy.
  • Japan plans to invest USD$36 billion in energy and critical minerals projects in Texas, Ohio, and Georgia, as part of the US-Japan trade agreement.
  • Iranian and US officials touted progress after a second round of indirect nuclear talks in Geneva, but there is little to suggest either side is prepared to compromise on 'red lines' as tensions increase.  
  • Senate Democrats plan to force a vote on a resolution terminating Trump’s tariffs on Canada when Congress returns next week.
  • There is no sign of progress on a Ukraine peace deal after a second day of trilateral talks wrapped up after two hours this morning.
  • A White House official dismissed Democrats' latest offer to end the DHS shutdown.
  • Poll of the Day: Democrats have a 7-point lead over Republicans in the generic Congressional ballot.

Full Article: US DAILY BRIEF

Historical bullets

SPAIN T-BILL AUCTION PREVIEW: On offer tomorrow

Jan-19 13:00

Tesoro Publico will look to sell E2.5-3.5bln of the following letras tomorrow (Tuesday 20 January):

  • the 3-month Apr 10, 2026 letras
  • the 9-month Oct 9, 2026 letras
     

OUTLOOK: Price Signal Summary - Bull Cycle In Gilts Remains Intact

Jan-19 12:34
  • In the FI space, Bund futures traded higher last week, resulting in a breach of resistance at 128.29 the 50-day EMA. Short-term gains are considered corrective, however, the move above the EMA suggests scope for an extension near-term, towards 128.89, the 61.8% retracement of the Nov 26 - Dec 22 bear leg. Key short-term support to watch lies at 127.70, the Jan 9 low. A break of this level would highlight a potential reversal.
  • A bull cycle in Gilt futures remains intact and last Wednesday’s gains reinforce current conditions. The contract has recently cleared resistance at 91.93, the Nov 27 high. This strengthens a S/T bullish condition and paves the way for a climb towards 93.06 next, a 1.382 projection of the Nov 19 - 27 - Dec 16 price swing. Initial support is seen at 91.99, the Jan 9 low. Support at the 20-day EMA lies at 91.82. A break of the average would signal a possible reversal.

OPTIONS: Larger FX Option Pipeline

Jan-19 12:14
  • EUR/USD: Jan20 $1.1400(E1.6bln), $1.1715-25(E1.5bln); Jan21 $1.1690-95(E1.4bln); Jan22 $1.1550(E1.6bln), $1.1600(E2.4bln), $1.1700(E2.2bln)
  • USD/JPY: Jan20 Y155.00($1.3bln); Jan21 Y158.00($1.2bln), Y158.50($1.4bln); Jan22 Y156.30($1.3bln)