OIL: Uncertainty over tariffs halts oil shipments from Brazil to US, says lobby

125,000 option package:

• 25,000 TYQ5 110.5/111.5 3x2 put spreads, 24 ref 112-04

$11.75B to Price Monday

• Date $MM Issuer (Priced *, Launch #)
• 06/30 $4B #Venture Global Plaquemines $2B 8.5NCL 6.5%, $2B 10.5NCL 6.75%
• 06/30 $4B #SMFG $700M 6NC5 +87, $900M 6NC5 SOFR+119, $700M 8NC7 +97, $700M 11NC10 +102, $1B 21NC20 +102
• 06/30 $1.5B *ABN Amro $750M 3Y +50, $750M 3Y SOFR+75
• 06/30 $1.25B #Niagara Mohawk Power $500M +5Y +85, $750M 30Y +120
• 06/30 $1B *SoftBank $500M 5Y +90, $500M 10Y +110

• RES 4: 0.6700 76.4% retracement of the Sep 30 ‘24 - Apr 9 bear leg
• RES 3: 0.6688 High Nov 7 ‘24
• RES 2: 0.6603 High Nov 11 ‘24
• RES 1: 0.6573 High June 30
• PRICE: 0.6571 @ 17:06 BST Jun 30
• SUP 1: 0.6492 20-day EMA
• SUP 2: 0.6454/6373 Low Jun 24 / 23 and a reversal trigger     
• SUP 3: 0.6357 Low May 12
• SUP 4: 0.6275 Low Apr 14

The medium-term trend set-up in AUDUSD remains bullish. Strong gains last week reinforces a bull theme and confirms the end of the latest corrective pullback. Sights are on key resistance and the bull trigger, at 0.6552, the Jun 16 high. This level has been pierced, a clear break would confirm a resumption of the trend and open 0.6603, the Nov 11 2024 high. Key short-term support has been defined at 0.6373, the Jun 23 low.