LATAM FX: On a Firmer Footing as Risk Sentiment Stabilises

* Latin American currencies are trading in a more resilient manner on Monday, as risk sentiment has stabilised and the US dollar has unwound earlier gains amid a pullback in crude from session highs. BRL is outperforming (+0.5%), while MXN has also now tilted into positive territory on the session. CLP is slightly lagging peers (-0.2%), but has pared most of the day's losses amid a recovery in copper: * For USDBRL, a medium-term bearish theme remains intact, although the recent bounce does highlight the start of a corrective phase. A clear break of 50-day EMA resistance (at 5.2666) would signal scope for a stronger recovery, towards 5.4237, the Jan 14 high. Key support and the bear trigger lies at 5.1157, the Feb 27 low. * Similarly for USDMXN, the recent breach of the 50-day EMA (at 17.5337) signals scope for a stronger recovery towards 18.1273 next, a Fibonacci retracement point. The 50-day EMA is first support. * The medium-term trend condition in USDCLP also remains bearish, although the break higher last week signals the start of a stronger corrective phase. Sights remain on 932.94 next, the 61.8% retracement of the Jul 30 '25 - Feb 9 bear leg. Initial firm support is 884.38, the 50-day EMA.

US: Trump To Hold Press Conference At 1730EST

Trump via Truth Social: Donald J. Trump @realDonaldTrump Many important meetings and phone calls taking place today while I am at Trump National Doral, in Miami. Additionally, I will be going to Speaker Mike Johnson's (who is doing a fantastic job!) fundraising event, at 4 P.M., and then, prior to leaving for D.C., I will hold a News Conference from a Doral Ballroom at approximately 5:30 P.M. Thank you for your attention to this matter! President DONALD J. TRUMP"

MIDEAST: EU's Kallas Criticises Hezbollah & Israel As Lebanon Conflict Rages

European Union High Representative for Foreign Affairs and Security Policy Kaja Kallas releases a statement : https://www.eeas.europa.eu/eeas/lebanon-statement-high-representative-latest-de velopments-0_enregarding the conflict in Lebanon, criticising both Hezbollah's strikes following the killing of Iranian Supreme Leader Ayatollah Ali Khamenei and Israel's military response. * Kallas: "Lebanon risks becoming another front in the war with Iran. Hezbollah's decision to attack Israel in support of Iran endangers the entire region and adds a deadly dimension. Israel has the right to self-defence in line with international law. All proxies that join the war make themselves legitimate targets. Hezbollah must disarm and cease all actions against Israel." * Kallas: "At the same time, Israel's response has been heavy-handed. [...]. Israel should cease its operations in Lebanon. Lebanon's sovereignty and territorial integrity must be respected." * Kallas' comments about Lebanon risking becoming another front in the war look to already be outdated. Israeli airstrikes have hit both the southern suburbs of the capital, Beirut (a long-term stronghold of Hezbollah) and villages in the border regions south of the Litani River for the past week. * Overnight, Israeli Defence Forces advanced further into southern Lebanon. The Israeli gov't claims this is necessary to create a buffer to stop Hezbollah from firing rockets into Israeli territory. * Lebanese President Joseph Aoun said earlier that there is "full readiness" in Beirut to resume negotiations with Israel to discuss "the essential security points necessary to halt the dangerous Israeli escalation." * The Israel-Hezbollah conflict is being overshadowed by the war in Iran and its impact on global oil prices. Nevertheless, a sustained conflict in Lebanon would feed into wider regional instability and make comprehensive peace agreements more difficult to achieve.

COMMODITIES: Trump to Review Options to Combat Oil Prices

"TRUMP TO REVIEW OPTIONS TO COMBAT SPIKE IN OIL PRICES AS SOON AS MONDAY, SOURCES SAY" RTRS The details behind that Reuters headline suggest options available to Trump are: * "a possible joint release of crude oil from strategic reserves" - an outturn expected to be announced by the G7 FinMin call earlier today, but a source stated 'further analysis needed' and an announcement would likely be left to national leaders in the G7. Macron said earlier a call is due this week. * "Restricting U.S. Exports" - a tool used historically by several former Presidents * "Intervening in oil futures markets" - presumably via a unilateral release from the US SPR, not in concert with the rest of the IEA * "waiving some federal taxes and lifting requirements under a U.S. law called the Jones Act" - Would mean domestically flagged fuel products are moved only via U.S.-flagged ships