MNI: PBOC Net Drains CNY28 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY250 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1248 Weds; -0.56% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1248 WEDS VS 7.1225

MNI BRIEF: China To Empower AI For Economic Growth - Li Qiang

MNI China Daily Summary: Tuesday, June 25

Australia May CPI +4.0%; Housing Price +5.2%

MNI: AUSTRALIA MONTHLY MAY CPI 0.2% MM, 4.1% YY

US Treasury Auction Calendar

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

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

Buoyant Brent Keeps Oil-Tied FX Pointed Higher

FOREX
  • NOK is the firmest performer in G10, gaining against all others as oil prices remain buoyant and provide a base for oil-tied currencies. WTI and Brent crude futures sit higher by ~1% at typing, well within range of last week's cycle highs posted on September 19th.
  • EUR/NOK has subsequently broken lower, showing below the 50-dma to expose 11.3229, the 200-dma for direction. This level provided firm support for the cross in late July/early August, meaning markets could pay further attention to the level on any test.
  • Equity markets are generally slightly firmer, with US futures pointing to a minor positive open. The USD is stable, sitting broadly mid-table, although the USD Index uptrend remains firmly intact for now, with the outlook firming on the break above the early March highs.
  • AUD is the poorest performer so far, keeping AUD/USD within range of support at 0.6357, the early September low.
  • Focus for the session ahead turns to preliminary durable goods orders data as well as appearances from ECB's Vujcic and Fed's Kashkari. The possibility of a government shutdown remains a hang over for market sentiment, with markets looking to gauge the potential economic impacts as well as market ramifications.
  • The prior full government shutdown in 2013 provided an initial drag on GDP, but this subsequent reversal and gains for equities across that period kept any drop for risk sentiment in check.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.