US: MNI POLITICAL RISK - Treasury Sec Yellen To Travel To China
Jul-03 12:03
- US Treasury Secretary Janet Yellen will this week visit China for the first time as Treasury chief as the Biden administration intensifies actions to diffuse tensions with Beijing.
- Former President Donald Trump has held his second major rally of his 2024 presidential campaign, using a speech in Pickens, South Carolina, to accuse federal law enforcement of corruption and President Biden of accepting bribes from foreign nations.
- President Biden has a busy week of European diplomatic engagements ahead of the NATO Summit in Vilnius, Lithuania on July 11-12.
- President Biden has pledged new actions on student debt following the Supreme Court’s decision to strike down his executive action to relieve student debt.
- Tim Sheehy (R), a former businessman and soldier, has formally announced his bid to run against Senator Jon Tester (D-MT) in the crucial Montana Senate race.
- The Wagner Group’s insurrection against the Russian military leadership has led to a drop in US perceptions of Russian President Vladimir Putin’s hold on power.
- Poll of the Day: Public confidence in the US government has declined sharply in recent years.
Full article: US Daily Brief
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US: President Biden To Deliver Remarks On Debt Limit Legislation
Jun-02 22:58
US President Joe Biden is shortly due to deliver remarks on legislation passed the United States Senate yesterday to suspend the federal government debt ceiling until 2025.
- Livestream of Biden's remarks: https://www.whitehouse.gov/live/
- For more analysis on the debt ceiling bill see today's edition of our MNI US Daily Brief.
- Biden said in a statement yesterday: "Tonight, Senators from both parties voted to protect the hard-earned economic progress we have made and prevent a first-ever default by the United States. Together, they demonstrated once more that America is a nation that pays its bills and meets its obligations, and always will be... No one gets everything they want in a negotiation, but make no mistake: this bipartisan agreement is a big win for our economy and the American people."
MNI: TREASURY GENERAL ACCOUNT $22.9B JUNE 1 VS $48.5B PREV DAY
Jun-02 20:00
- MNI: TREASURY GENERAL ACCOUNT $22.9B JUNE 1 VS $48.5B PREV DAY
USDCAD TECHS: Reversal Lower Extends
Jun-02 20:00
- RES 4: 1.3730 76.4% retracement of the Mar 10 - Apr 14 low
- RES 3: 1.3695 High Mar 28
- RES 2: 1.3668 High Apr 28 and key resistance
- RES 1: 1.3533 20-day EMA
- PRICE: 1.3438 @ 16:14 BST Jun 2
- SUP 1: 1.3407/04 Low Jun 02 / May 16
- SUP 2: 1.3363 Low May 11
- SUP 3: 1.3315 Low May 8
- SUP 4: 1.3302 Low Apr 14 and a key near-term support
USDCAD traded lower Thursday as it extended the reversal from the May 26 high of 1.3655. The pair is weaker again today. The move lower is considered corrective, however, the impulsive nature of the sell-off signals scope for a deeper pullback. The next support to watch is 1.3404, the May 16 low. A break of this level would expose 1.3315, the May 8 low. On the upside, initial resistance is at 1.3533, the 20-day EMA.
