AMERICAS OIL: TotalEnergies Looks to Boost Investments in U.S. LNG: Reuters
Feb-06 18:11
TotalEnergies Looks to Boost Investments in U.S. LNG: Reuters
- TotalEnergies CEO Patrick Pouyanne told Reuters that the biggest exporter of US LNG plans to boost investments in American LNG supply and will consider expanding the export projects it is already invested in.
- TotalEnergies, which exports more than 10 million tons per year of LNG from the United States, is also the world’s second-largest LNG trader after Shell.
- TE has a 16.6% stake in the Cameron LNG plant in Louisiana and has several long-term purchasing agreements with US LNG exporters.
- TotalEnergies has been heavily investing in LNG in various geographies in recent years and is now looking to further boost its U.S. position.
- Pouyanne told Reuters, “We have enough to grow the U.S. position for the next decade, and I’m sure we’ll do it.”
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MNI EXCLUSIVE: ISM Services Head On Outlook Under Trump Administration
Jan-07 18:09
MNI spoke with the head of the ISM's service survey about the outlook under the Trump administration. On Main Policy Wire now, see sales@marketnews.com for details.
FOREX: Greenback Receives Boost from Above-Estimate ISM/JOLTS Data
Jan-07 18:06
- The US dollar pared initial losses on Tuesday, as both US ISM Services data and Jolts Job opening beat consensus expectations. The USD Index is up 0.15% on the session, although notably the DXY still sits just below the levels before the release of the WaPo tariff article during Monday trade.
- EURUSD has echoed this sentiment with the early push back above 1.04 being met with solid resistance around Monday’s highs ~1.0435. Spot trades closer to 1.0370 as we approach the APAC crossover and will look to the old November low at 1.0335 as initial support.
- Despite being unchanged on the session, USDJPY has traded with significant volatility with multiple two-way intra-day swings. Overnight, the pair traded multi month highs of 158.42, before encountering comments from the Japanese Finance Minister around excessive FX moves which halted the yen’s decline and saw USDJPY print a session low of 157.38.
- The US data then took us back to exactly the match the highs, before the pessimistic price action in equities led the pair lower once more to current levels around 157.70.
- In similar vein, both AUD and NZD spent the European session outperforming before risk off sentiment drove both these currencies back to unchanged levels ahead of the close.
- The Swiss franc is a touch softer on the session following a lower-than-expected core inflation print, with EURCHF briefly trading up to a near 2-month high around 0.9440. USDCHF has risen 0.35%, and is reapproaching the 0.91 handle, with medium term targets of 0.9158 and 0.9250 well defined.
- Australia CPI highlights the APAC calendar on Wednesday, before focus will turn to US ADP employment, jobless claims and the release of the December Fed meeting minutes.
US TSYS/SUPPLY: Review 10Y Note Auction Re-Open
Jan-07 18:05
- Treasury futures holding weaker but off late morning lows after the $39B 10Y note auction re-open (91282CLW9) drew 4.680% high yield vs. 4.678% WI; 2.53x bid-to-cover vs. 2.70x prior (highest since Jun 2019).
- Peripheral stats indirect take-up recedes to 61.39% vs. 7.000% prior; direct bidder take-up rebounds to 22.97% from 19.50% prior; primary dealer take-up 15.64% vs. 14.70% prior.
- The next 10Y auction is tentatively scheduled for February 12.
