EM LATAM CREDIT: Multilateral support for Chinese companies in Latin America
"US Seeks to Block Loans to Chinese State Companies in Colombia" - BBG
U.S. Opposition to multilateral lenders like the IADB subsidizing Chinese companies in the western hemisphere, according to tweet on X by the Bureau of Western Hemisphere Affairs.
Both Colombia and Brazil have recently sought closer ties with China.
A Chinese company is currently building Bogota's USD6bn metro project, according to Bloomberg.
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US STOCKS: Equity Index Update
US Equity indexes have reversed early session gains - trading modestly lower now. No particular headline driver, just profit taking in the second half, wary of trade related headline risk. Consumer Discretionary, Health Care (pharmaceuticals) and Communication services sectors underperforming.
- DJIA down 81.39 points (-0.2%) at 40441.03
- S&P E-Mini Future down 9.5 points (-0.17%) at 5429
- Nasdaq down 42.4 points (-0.3%) at 16785.16
GBPUSD TECHS: Pierces The Bull Trigger
- RES 4: 1.3329 3.0% Upper Bollinger Band
- RES 3: 1.3305 High Oct 2 ‘24
- RES 2: 1.3274 High Oct 3 ‘24
- RES 1: 1.3252 Intraday high
- PRICE: 1.3242 @ 15:55 BST Apr 15
- SUP 1: 1.2934/1.2709 20-day EMA / Low Apr 7 and a bear trigger
- SUP 2: 1.2688 2.0% 10-dma envelope
- SUP 3: 1.2654 50.0% retracement of the Jan 13 - Apr 3 bull cycle
- SUP 4: 1.2559 Low Feb 28
GBPUSD maintains a bullish tone and the pair traded higher again Tuesday. Price has cleared key resistance at 1.3207, the Apr 3 high and a bull trigger. This confirms the end of the recent Apr 4 - 7 correction, and highlights a resumption of the medium-term uptrend. Moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 1.3274 next, the Oct 3 ‘24 high. Support to watch is 1.2934, the 20-day EMA.
STIR: FED Reverse Repo Operation: Usage Retreating
RRP usage retreats below $100B again to $88.878B this afternoon from $102.838B Monday. Usage had surged to the highest level since December 31, 2024 last Monday, March 31: $399.167B. Compares to $58.770B (lowest level since mid-April 2021) on February 14. The number of counterparties at 23.
