RUSSIA: Putin-We Welcome Trump Desire To Restore Direct Contact w/Russia
State media reporting comments from President Vladimir Putin speaking to the National Security Council regarding today's inauguration of US President-elect Donald Trump. Putin tells the Council "We are open for dialogue with the new US administration." Claims that "the goal of a Ukrainian settlement should not be a short ceasefire, but long-term peace agreement." Says that "We'll fight for Russia's interests" in any talks.
- Putin: "We welcome Trump's desire to restore direct contacts with Russia and prevent World War Three." Says that dialogue "must be built on an equal and mutually respectful basis, taking into account the significant role of the two countries."
- Following the implementation of a ceasefire deal in Gaza, under the Biden administration but with direct involvement from Trump nominees, there is intense global focus on the strategy of the new US president in seeking to end the war in Ukraine.
- In his final days in office, US President Joe Biden imposed sanctions on Russia with the intention of making them 'Trump proof'. The FT reported "The new authority will give legislators an opportunity to head off any attempts by the new White House to reverse the Biden administration’s efforts to weaken Russia’s military-industrial efforts. If both houses of Congress pass a “measure of disapproval”, delistings can be blocked."
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TRUDEAU SAYS `WE HAVE A LOT OF WORK TO DO'
- TRUDEAU SAYS `WE HAVE A LOT OF WORK TO DO'
- TRUDEAU WANTS GOVT TO PREPARE FOR NEW US ADMINISTRATION
- TRUDEAU DOESN'T ADDRESS QUESTIONS ABOUT HIS LEADERSHIP
USDCAD TECHS: A Pullback Would Be Considered Corrective
- RES 4: 1.4539 3.382 proj of the Oct 17 - Nov 1 - 6 price swing
- RES 3: 1.4537 2.0% 10-dma envelope
- RES 2: 1.4508 3.236 proj of the Oct 17 - Nov 1 - 6 price swing
- RES 1: 1.4467 High Dec 19
- PRICE: 1.4356 @ 16:56 GMT Dec 20
- SUP 1: 1.4301 Low Dec 18
- SUP 2: 1.4174/4014 20- and 50-day EMA values
- SUP 3: 1.3928 Low Nov 25 and a key support
- SUP 4: 1.3822 Low Nov 6
USDCAD bulls remain in the driver’s seat. While price faded into the Thursday close, the recent breach of 1.4178, the Nov 26 high, confirmed a resumption of the uptrend and this maintains the price sequence of higher highs and higher lows. The latest rally opens 1.4508 next, a Fibonacci projection level. Initial firm support to watch lies at 1.4174, the 20-day EMA. A pullback would be considered corrective.
AUDUSD TECHS: Bearish Trend Structure
- RES 4: 0.6550 High Nov 25
- RES 3: 0.6501 50-day EMA
- RES 2: 0.6429 High Dec 12
- RES 1: 0.6337/6396 Low Dec 11 / 20-day EMA
- PRICE: 0.6263 @ 16:55 GMT Dec 20
- SUP 1: 0.6199 Low Dec 19
- SUP 3: 0.6158 1.236 proj of the Sep 30 - Nov 6 - 7 price swing
- SUP 3: 0.6100 Round number support
- SUP 4: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing
The trend needle in AUDUSD continues to point south and this week’s fresh cycle lows and Wednesday’s sell-off, reinforce a bear theme. The move down maintains the price sequence of lower lows and lower highs. Note that moving average studies are in a bear-mode position too, highlighting a dominant downtrend. The break lower opens 0.6158 next, a Fibonacci projection. Initial firm resistance to watch is 0.6396, the 20-day EMA.
