MNI BRIEF: BOE Rate Cut Closer But Still Some Way Off - Pill

MNI China Daily Summary: Tuesday, April 23

RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI BRIEF: Hungary Central Bank Cuts To 7.75% As Expected

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

EZ/UK Bond Supply Calendar: UK, GR Synd; DE Auction Wednesday

Tax Revenue Tracking Around E10bln Lower than YTD Forecast (2/2)

Tax Revenue Tracking Around E10bln Lower than YTD Forecast (1/2)

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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BRENT TECHS: (V20): AUG 5 HIGH UNDER PRESSURE

BRENT TECHS
  • RES 4: $48.82 - Low Mar 2
  • RES 3: $46.68 - Low Mar 6 and gap high on the daily chart
  • RES 2: $46.37 - 50.0% retracement of the Jan - Apr sell-off
  • RES 1: $46.23 - High Aug 5
  • PRICE: $45.02 @ 08:02 BST Aug 12
  • SUP 1: $41.72 - Low Jul 30 and pivot support
  • SUP 2: $39.94 - Low Jun 25
  • SUP 3: $37.59 - Low Jun 12 and a reversal trigger
  • SUP 4: $35.87 - Low May 29
    Brent futures continued to creep higher Tuesday, trading within range of the Aug 5 high at 46.23 which becomes the first upside target. Having edged above the bull triggers at the Jul 21 / 23 highs mid-last week, Brent has raised the likelihood of an imminent test of the Fib resistance at 46.37 (the 50% retracement of the Jan-Apr sell-off). If markets fail ahead of this mark, the outlook will remain more neutral. A break through pivot support at 41.72 would worsen the outlook materially and set the scene for a deeper pullback.
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