MNI BRIEF: China, US To Strengthen Trade Dialogue - Official

MNI: China CFETS Yuan Index Down 0.05% In Week of Jan 17

MNI: PBOC Net Injects CNY98.2 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1886 Mon; -1.80% Y/Y

MNI BRIEF: China Jan LPR Holds Steady

MNI BRIEF: Federal Reserve Withdraws From Climate Consortium

JAPAN DATA: Japan November Machine Orders +3.4% M/M

MNI JAPAN NOV CORE MACHINE ORDERS +3.4% M/M; OCT +2.1%

MNI: US TSY TICS NET FLOWS IN NOV +$159.9B

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

COMMODITIES: Crude, Precious Metals Slide As Geopolitical Tensions Ease

COMMODITIES
  • Crude markets have lost ground today after media outlets reported that Hezbollah Deputy Secretary General endorsed a truce with Israel not explicitly tied to a ceasefire in Gaza.
  • However, media reports suggest that Israel may not have completely ruled out targeting Iranian energy facilities.
  • WTI Nov 24 is down by 4.5% at $73.7/bbl.
  • For WTI futures, initial firm support to watch is at $71.41, the 20-day EMA.   
  • Spot gold has also fallen by 1.0% to $2,616/oz, a fifth consecutive loss, bringing the yellow metal to its lowest level since Sept 20.
  • Analysts at Saxo Bank said the move mostly reflected an unravelling of geopolitical risk premium following the lack of an escalation in middle east tensions so far this week.
  • Today’s move in gold has seen it pierce support at $2615.0, the 20-day EMA. A clear break of this would open $2,584.9, Sep 20 low.
  • Silver has also fallen by 3.8% to $30.5/oz, narrowing the gap to firm support at $30.144, the 50-day EMA.
  • Meanwhile, copper has fallen by 2.4% to $446/lb, amidst disappointment on Chinese stimulus prospects.
  • For copper, key support is seen at $435.84, the 50-day EMA.
EM BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsEmerging Market News

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.