THAILAND: PM Anutin Vows Retaliation, Halts Cambodia Peace Process
Prime Minister Anutin Charnvirakul dug in amid the latest escalation in border tensions with Cambodia, endorsing a military response to Phnom Penh's latest moves, and ruling out a resumption of talks regardless of the consequences.
- During a visit to the northeastern border province of Si Sa Ket, Anutin told reporters that 'the agreement for peace is over. From now on, the Thai government will do what is in the best interests of Thailand.' He added that he had discussed relevant operational issues with military commanders and the Defence Ministry.
- Speaking at the National Defence College on Wednesday, Anutin said that Cambodia 'blew its chance for peace' and Thailand no longer intends to return to the negotiating table, whether or not the US was to use the threat of tariffs to force parties to resume talks.
- The Nation quoted Anutin as saying that he 'no longer care[s] about trade and tariff negotiations (...) It’s fine if they use tax measures to pressure us — other countries face the same. If US tariffs on our goods rise to 100%, the ones to suffer will be their own buyers.'
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EQUITY OPTIONS: Estoxx Synth Option Trade
SX5E (17th Oct) 5600, sold the put at 9 in 5k (100% del).
EGB OPTIONS: Large Bund Call Buyer
RXX5 130c, bought for 16 up to 18.5 in close to 10k.
COMMODITIES: Friday's Move Lower in WTI Futures Confirms Resumption of Bear Leg
A bearish theme in WTI futures remains intact. Friday’s move down confirmed a resumption of the bear leg - support at $60.40, the Oct 2 low, has been breached. This highlights an extension of the bearish price sequence of lower lows and lower highs. The move down opens $57.50 next, the May 30 low. On the upside, initial key resistance is at $66.42, the Sep 29 high. Clearance of this level would highlight a reversal. A bull cycle in Gold remains intact and today’s fresh cycle marks a bullish start to this week’s session. The move higher maintains the price sequence of higher highs and higher lows. Sights are on the $4100.00 handle, and $4113.5, a Fibonacci projection point. Note that the trend is in overbought territory. A move down would be considered corrective and would allow the overbought set-up to unwind. Support to watch is $3836.5, 20-day EMA.
- WTI Crude up $1 or +1.7% at $59.86
- Natural Gas up $0 or +0.06% at $3.107
- Gold spot up $60.84 or +1.51% at $4078.26
- Copper up $11.55 or +2.36% at $500.6
- Silver up $1.34 or +2.67% at $51.5025
- Platinum up $64.15 or +4.02% at $1662.5
