MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

A Tale Of Two Halves As Risk Sentiment Sours

COMMODITIES
  • Crude oil and commodities more generally see a mixed session, with gains early on helped by China debating whether to reduce mandatory-quarantine periods for visitors before higher Treasury yields and a bounce in the US dollar put pressure on them.
  • Colombian President Petro said oil, gas and coal producers can continue operating with their existing contracts, whilst refilling the US SPR at $67-72/bbl would see the US buying at a much lower rate than the >$85/bbl it’s sold it over the last five years.
  • WTI is +0.5% at $85.95, clearing resistance at the 50-day EMA of $87.24 before retracing. Support is seen at at82.09 (Oct 18 low). By far the most active strikes in the CLZ2 today have been $100/bbl calls.
  • Brent is +0.05% at $92.46 after coming close to resistance at $95.17 (Oct 12 high) before retracing. Support seen at $88.67 (61.8% retrace of Sep 26 – Oct 10 rally).
  • Gold is -0.07% at $1628.3 but remains off the intraday low of $1622.5 after which lies the bear trigger of $1615.0 (Sep 28 low).
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.