LNG: Russia Plans to Increase LNG Exports to China: Energy Minister
Russian Energy Minister Sergei Tsivilev said Russia plans to increase LNG exports to China from the ...
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USD: USDSEK is close to the 2025 low
- EURSEK falls to its lowest level since around mid June and eyeing at test at the Psychological 11.0000 level.
- Focus is still on the more interesting USDSEK, now through 9.4000, just ahead of the 2025 low at 9.3792.
EFSF ISSUANCE: Apr-29 / Feb-34 Tap Dual Tranche: Spread Set
Apr-29 tap:
- Spread set at MS+9 (guidance was MS+10bps area)
- Books at E3.3bln
- Coupon: 3.500% (150 days accrued), Annual ACT/ACT
- Maturity: 11 April 2029
- ISIN: EU000A2SCAL3
Feb-34 tap:
- Spread set at MS+33 (guidance was MS+34bps area)
- Books at E3.7bln
- Coupon: 2.875% (207 days accrued), Annual ACT/ACT
- Maturity: 13 February 2034
- ISIN: EU000A2SCAN9
Across both tranches:
- Size: E3.5bln maximum combined (MNI expected E3bln)
- Books combined: E7bn (incl. E500m JLMs)
- Settlement: 8 September 2025 (T+5)
- Bookrunners: LBBW / NOMURA (DM/B&D) / TD
- Denoms: EUR 1,000 x 1,000
- Target market: Professionals / Eligible Counterparties only (all distribution channels), each as defined in MiFID II
- Issuer: European Financial Stability Facility (EFSF)
- Ratings: Aaa (stable) / AA- (stable) / AA-
- Risk Weighting: 0%
- Format: RegS / Bearer Notes (TEFRA rules apply, no communications with or into the U.S.)
- Timing: Books close 11:00LDN | 12:00CET
COMMODITIES: Gold Starts the Week Sharply Higher, Targeting All Time Highs
A bear cycle in WTI futures remains intact and the latest recovery appears corrective. A key support at $61.99, the Jun 30 low, has recently been breached, strengthening a bearish theme. A continuation lower would open $57.71, the May 30 low. Key short-term resistance has been defined at $69.36, the Jul 30 high. Clearance of this level would cancel a bear theme. Initial resistance to watch is $66.56, the Aug 4 high. Gold is trading sharply higher today as the metal begins the week on a bullish note. The primary trend direction remains up and sights are on key resistance and the bull trigger at $3500.1, the Apr 22 all-time high. Clearance of this hurdle would confirm a resumption of the uptrend and open $3547.9, a Fibonacci projection. Initial firm support to watch lies at $3371.9, the 20-day EMA.
- WTI Crude up $0.35 or +0.55% at $64.34
- Natural Gas up $0.03 or +1.1% at $3.03
- Gold spot up $26.66 or +0.77% at $3474.77
- Copper up $1.3 or +0.28% at $460.4
- Silver up $0.96 or +2.42% at $40.6828
- Platinum up $22.27 or +1.62% at $1393.87
