US: Trump Hosts African Leaders For DRC/Rwanda Peace Ceremony

Dec-04 17:01

US President Donald Trump is shortly due to host leaders from DR Congo, Rwanda, Kenya, Togo, and Burundi at the newly renamed “Donald J. Trump Institute of Peace” in Washington, DC, for the signing of a peace deal between Rwanda and the DRC. LIVESTREAM

  • AFP notes, "Even on the day of Trump's latest meeting, intense fighting raged in the eastern DRC, where the M23 armed group -- which the UN says is backed by Rwanda -- has been gaining ground in recent weeks against Kinshasa's forces."
  • Despite scepticism that the peace accord will quell ongoing violence on the ground, the Trump administration hopes the agreement will pave the way for the US to gain greater access to critical minerals in eastern DRC, the site of the world's largest cobalt reserves. AFP notes that Trump, "has voiced hope that the United States can exploit minerals in the country that otherwise could head to China."
  • At 16:30 ET 21:30 GMT, Deputy Secretary of State Christopher Landau will meet with Angolan President João Lourenco. Discussions are expected to include the Biden-era Lobito Corridor, an infrastructure project aimed at connecting Angola, the Democratic Republic of Congo and Zambia to the Atlantic.
  • Reuters reports that a US official said in April that the Trump administration remains committed to the Lobito Corridor project, despite cuts to State Department agencies overseeing Africa.  

Historical bullets

US 10YR FUTURE TECHS: (Z5) Trading Just Above Recent Lows

Nov-04 16:54
  • RES 4: 114-02   High Oct 17 and the bull trigger 
  • RES 3: 113-29   High Oct 22
  • RES 2: 113-18+ High Oct 28 
  • RES 1: 113-03   20-day EMA 
  • PRICE:‌‌ 112-25+ @ 16:52 GMT Nov 4 
  • SUP 1: 112-16   Low Oct 30 
  • SUP 2: 112-14   Low Oct 9
  • SUP 3: 112-06   Low Sep 25 and a reversal trigger
  • SUP 4: 111-30+ Trendline support drawn from the May 22 low 

Recent weakness in Treasuries undermines a bullish theme. The move down has resulted in a breach of the 50-day EMA, at 112-26+, highlighting potential for a deeper retracement near-term. A continuation lower would open 112-06, the  Sep 25 low and the next key support. The contract needs to trade above 113-18+, the Oct 28 high to signal a possible bullish reversal. Key resistance and the bull trigger is at 114-02, the Oct 17 high.

OPTIONS: Larger FX Option Pipeline

Nov-04 16:48
  • EUR/USD: Nov06 $1.1400(E1.4bln), $1.1500(E1.5bln), $1.1550(E1.2bln), $1.1600(E1.4bln), $1.1715(E1.5bln); Nov07 $1.1700(E1.0bln); Nov10 $1.1475(E1.8bln), $1.1750(E1.1bln), $1.1770(E1.2bln)
  • USD/JPY: Nov06 Y152.00($1.0bln), Y153.00-05($1.2bln), Y154.00-05($1.1bln), Y154.50-55($1.1bln), Y155.00($1.7bln), Y155.35($1.2bln)
  • USD/CAD: Nov07 C$1.3900($2.3bln)

MNI EXCLUSIVE: Former BLS Commissioner Discusses Missing Jobs, Inflation Reports

Nov-04 16:47
  • Former Bureau of Labor Statistics Commissioner William Beach discusses missing jobs, inflation reports -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com