Memorial Day News Round Up
This text informs the reader that both the UK and US stock markets are closed on Monday due to a holiday.
NS
Monday, May 29, 2019 - 0924 PM
Memorial Day is a day when US stock markets are closed.
Reuters reports that US President Biden expressed optimism about the prospects of a debt ceiling agreement being passed. He also dismissed GOP concerns over defence spending, and stated that more money could be appropriated if needed.
China refused the US request to meet with US Defence Secretary Austin's Chinese counterpart. The Pentagon issued a statement saying that China's rejection was concerning.
Highlights for the future include New Zealand building permits, Australian building approvals, Japanese unemployment rate, and supply from Japan.
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Highlights include New Zealand building permits, Australian building approvals, Japanese unemployment rate, and supply from Japan.
US TRADE
Memorial Day is a day when US stock markets are closed.
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NOTEABLE HEADLINES
US President Biden expressed optimism about the prospects of a debt ceiling agreement, dismissing GOP concerns over defence spending, and saying that if additional money was needed, it could be appropriated.
According to Reuters.
US Democrats and Republicans believe they can reach an agreement to avoid a US default.
According to FT. Also, it was reported that
The US House Rules Committee is meeting on Tuesday, February 12th to discuss the Debt Ceiling Bill.
According to Reuters.
Tesla (TSLA), CEO Musk, is expected to visit China next week to meet senior Chinese officials and to visit the Shanghai factory.
According to sources cited in Reuters.
FX
Jansson, of the Riksbank, said that the SEK was a potential problem. It should not continue to deteriorate on a trends basis. He also added that they were a long distance from a currency intervention which he considered a last option.
Jansson said that
He doesn't think currency intervention is a good idea in the current regime of monetary policy
It would need to be a very exceptional situation. Also, it is unclear how effective an intervention in currency would be. He added that currency intervention would be effective, but it would have to be an exceptional situation.
Their main tools are interest rates and asset portfolios, but he's willing to raise the rate as high as necessary to combat inflation.
According to Reuters.
COMMODITIES
OPEC Secretary-General Al Ghais stated that OPEC would welcome Iran's return to the market once sanctions are lifted. He also commented that all OPEC decision are made to maintain a balance between global demand and supply of oil.
According to Shana
Venezuelan President Maduro announced that he will ask South America to ask the US for a lifting of sanctions against Venezuela.
According to Reuters.
GEOPOLITICAL
The Russian Defence Ministry claimed on Monday that it had destroyed all targets and missiles that were fired against Kyiv by Kyiv military authorities on Monday morning.
According to RIA and Reuters.
The regional governor of Russia's Belgorod region said that Ukrainian forces shelled several settlements and attacked two industrial facilities in Shebekino, which injured four workers.
According to Reuters.
A Ukrainian presidential adviser said that a settlement post-war must include a demilitarised area of 100km to 120km in Russian regions bordering Ukraine, and it should initially have a multinational control contingent.
According to Reuters.
The Kremlin of Russia said that a vacuum has emerged in the arms control field due to a lack of relations between several states.
According to Reuters.
The Russian interior ministry placed US Senator Graham's name on its wanted list following his remarks last week, in which he said that "Russians were dying" and that US military assistance to Ukraine was 'the most money we've ever spent.
According to The Hill.
Lavrov, Russian Foreign Minister, said that less than 3% grain exported under the Black Sea Grain Initiative reached the poorest nations and that part the deal applicable to Russia is not being fulfilled. He also added that the deal would cease to be functional if nothing changes.
According to Reuters.
US has said that any North Korean launch using ballistic missile technology will violate UN resolutions. It also urged the country to cease further 'unlawful activities'.
Iran announced that 14 members from a 'terrorist group' with ties to Israel had been arrested in the north-west of Iran.
According to Tasnim.
ASIA-PAC
APAC HEADLINES TO NOTE
China refused the US request to meet with US Defence Secretary Austin. The Pentagon issued a statement saying that China's rejection was concerning.
EU/UK
NOTEABLE HEADLINES
After his Socialist Party suffered a crushing defeat in Sunday's local and regional election, Sanchez, the Spanish PM called for snap elections to be held on July 23rd.
According to FT.
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