OIL: Russia Introduces Ban on Overnight Novorossiysk Vessel Movements
Russia has introduced a temporary ban on vessel movements in and out of the port of Novorossiysk bet...
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US 10YR FUTURE TECHS: (U6) Monitoring Resistance
- RES 4: 111-03 50.0% retracement of the Mar 2 - May 19 bear leg
- RES 3: 110-28+ High May 7
- RES 2: 110-14 38.2% retracement of the Mar 2 - May 19 bear leg
- RES 1: 109-31/110-00+ 50-day EMA / High May 29
- PRICE: 109-10+ @ 16:06 BST Jun 22
- SUP 1: 108-25 Low Jun 08
- SUP 2: 108-08+ Low May 19 and the bear trigger
- SUP 3: 108-04 1.382 proj of Apr 17 - May 4 - 7 swing
- SUP 4: 107-29 1.618 proj of the Apr 17 - May 4 - 7 price swing
Key short-term resistance to watch in Treasuries is 109-31, the 50-day EMA, and the May 29 high at 110-00+. A clear break of this resistance zone would undermine the bear theme and signal scope for a stronger recovery. This would open 110-14, a Fibonacci retracement point. For now, recent gains are considered corrective. Initial firm support is 108-25, the Jun 8 low. The bear trigger lies at 108-08+, May 19 low.
US TSY OPTIONS: Large Aug'26 10Y Call Buy - Open
- +50,000 TYQ6 114.5 calls, 1 ref 109-11, new position w/ open interest 6,365 coming into the session.
JAPAN: JPY Driver May Stem From Report of "Emergency" Meeting with Bessent
Possible driver of JPY here: "JNN has learned that Finance Minister Katayama and U.S. Treasury Secretary Bescent held an emergency meeting."
"In this context, sources say that Finance Minister Katayama held an emergency online meeting with U.S. Treasury Secretary Bescent tonight. They are believed to have discussed how to respond to the historic weak yen and also discussed the possibility of currency intervention."
https://newsdig.tbs.co.jp/articles/-/2748955?display=1
- Note Katayama already spoke overnight - stating that her ministry remain "ready to respond appropriately to currency moves at any time needed", so very much inline with previous communications - but an "emergency" meeting with Bessent could mark an escalation in action. Recall in January this year USDJPY fell sharply on speculation the US Treasury had conducted a 'rate check' on USDJPY - marking potential cooperation on the currency.
- We're not seeing this news repeated on any major wires just yet - but seems to be circulating in lesser-followed Japanese media.
