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USDCAD TECHS

Takes Out 20-, 50-Day EMAs

US TSYS

Weak Global PMIs

AUDUSD TECHS

Pierces 50-Day EMA

US TSYS

Eurodollar/SOFR, Tsy Option Roundup

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EU-RUSSIA

Speaking to the Franco-German Parliamentary Assembly, German Chancellor Angela Merkel states that "The relationship between the EU and Russia is not good. It is almost a conflict. But it is not by ignoring one another that we can solve the problems," adding that "during the Cold War, Europe continued talking to the Russians".

  • Merkel also indicated her support for the EU to seek a summit with Russian President Vladimir Putin after his June bilateral with US President Joe Biden, stating that "In view of the hybrid attacks that affect us all - France, Germany, Italy, the Baltic States... - we thought it appropriate to confront the Russian President with...questions. Joe Biden discussed this with the Russian president, why can't Europe?"
  • Prospect of a summit being agreed to quickly seems unlikely, though, with Merkel stating to the Assembly "that the EU speak with one voice", meaning a large amount of member state coordination will have to be carried out to reach a united voice.
MNI London Bureau | +44 203-865-0981 | tom.lake@marketnews.com

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