HUNGARY: White House Eyes Budapest for US-Russia-Ukraine Summit
Aug-20 07:03
- Note that local markets are shut over St. Stephen’s Day. No major data releases are scheduled for today, or for the remainder of the week. The NBH meet next week on August 26.
- The White House is planning for a possible trilateral meeting between the US, Russian and Ukrainian presidents in Budapest as the next step in negotiating an end to the war, Politico report citing a Trump administration official and a person close to the administration. While the Secret Service often scouts multiple locations and the ultimate venue could change, Budapest is emerging as a first choice for the White House.
- In a post on Facebook, Foreign Minister Peter Szijjarto said Russian crude oil flows to Hungary have been restored following damages caused by a Ukrainian drone attack earlier in the week. He said he expects Ukraine not to commit another attack on a pipeline that is critical to the country's energy supply. “This war is not our war, we should be left out of it!!” he said.
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Historical bullets
USDCAD TECHS: Has Pierced The 50-Day EMA
Jul-21 07:00
- RES 4: 1.3920 High May 21
- RES 3: 1.3862 High May 29
- RES 2: 1.3798 High Jun 23
- RES 1: 1.3746/74 50-day EMA / High Jul 17
- PRICE: 1.3719 @ 08:00 BST Jul 21
- SUP 1: 1.3639/3557 Low Jul 08 / 03
- SUP 2: 1.3540 Low Jun 16 and the bear trigger
- SUP 3: 1.3503 1.618 proj of the Feb 3 - 14 - Mar 4 price swing
- SUP 4: 1.3473 Low Oct 2 2024
USDCAD is unchanged and trades closer to its recent highs. Attention is on resistance at 1.3746, the 50-day EMA. It has been pierced. A clear break of it is required to highlight a possible stronger S/T reversal. This would open 1.3798, Jun 23 high. For now, a bear trend remains in place. A resumption of weakness would refocus attention on key support at 1.3540, the Jun 16 low. Clearance of this level would confirm a resumption of the downtrend.
GILTS: Higher Open Seen
Jul-21 06:56
Futures called 91.35-45 at the open.
EQUITIES: European Futures Back Towards Unchanged Following Rally
Jul-21 06:55
The rally in European equity index futures takes the major contracts back towards unchanged levels, although they still operate below Friday’s settlement:
- Euro Stoxx 50 futures: -0.04%
- DAX futures: -0.05%
- CAC 40 futures: -0.07%
- FTSE MIB Futures -0.17%
- FTSE 100 futures: -0.05%
- SMI futures: -0.17%
