CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

Benchmarks On Track For Worst Week Since October

OIL

Oil is slightly higher in Asia-Pac trade on Friday, holding gains from Thursday. WTI is up $0.07 from settlement at $69.16/bbl, Brent is up $0.09 at $71.38. Oil is on track to decline around 6.5% this week, which would be the worst weekly performance since October 2020. The bounce Thursday was preceded by lower lows for both contracts, meaning lower lows have now been printed for five consecutive sessions. Hawkish comments from the Israeli defense minister Gantz may have provided a floor for now, as he stated Israel would be willing to adopt a war footing with Iran should the situation require it. For Brent specifically, the move below the 50-day EMA this week looks convincing, with support now exposed at $66.43. To resume any incline, bulls need to again take out $74.47, the 76.4% retracement of the Jul 6 – 20 downleg.

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.