Free Trial
AUDUSD TECHS

Trading Closer To Its Recent Highs

STIR FUTURES

Fed Hikes Claw Back European Session Dip

US TSYS

Risk Appetite Continues to Improve

US OUTLOOK/OPINION

CS: Core PCE Seen Below Consensus

WHITE HOUSE

White House Press Conference Beginning Shortly

EURJPY TECHS

Watching Resistance

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
OIL
OIL: Another quiet Asia-Pac session for oil after a sharp drop on Wednesday
following, WTI last trades up $0.10 at $46.88 after dropping from around $47.80,
so far this week WTI is down 3.91%.
- Oil initially rose after DoE figures showed a larger than expected draw in
headline crude stocks, a drop of 8.945mln against expectations of a 3.002mln
drop to print the biggest fall in stocks since September 2 2016, and the 6th
biggest fall since 2012.
- However the increase proved to be shortlived after reports that production hit
the highest levels for 2-Years with the biggest weekly production gains since
June.
- MNI technical analysis sees support at $49.98 low Aug 15, resistance is seen
at $50.67 hourly resistance Aug 16. The lack of follow through above the 200-DMA
last week has been followed up with losses that see bears focused on the 55-DMA.
Support emerging ahead of the 55-DMA is less than ideal for bears who look for a
close below the 55-DMA to initially target $47.78-48.26.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.