MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI BRIEF: Japan Q1 GDP Revised Lower On Public Investment

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

Services Inflation Potentially A Touch Softer; Food Prices Jump

Nominal Wage Growth Moderates In April, But Real Wages Remain Positive

MNI Projects 2.2-2.3% Y/Y National CPI, Core CPI Around 2.9%

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

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

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

Crude Erases Gains

OIL
Energy BulletsHomepagemarkets-real-timeBulletCommodities

Crude markets have relinquished their earlier gains on the day to be trading lower, with pressure likely due to a jump in the strength of the US dollar.

  • Brent JUL 24 down 0.2% at 84.05$/bbl
  • WTI JUL 24 down 0.2% at 79.68$/bbl
  • However, crude remains within yesterday’s range and is up around 2.7%, with sentiment overall remaining supportive ahead of an expected rollover in OPEC+ output cuts.
  • USD: The extension lower for major equity indices and higher long-end treasury yields continue to underpin the greenback bid on Wednesday. With risk sentiment notably dented, emerging market currencies are notably feeling the pinch.
101 words

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.

Crude markets have relinquished their earlier gains on the day to be trading lower, with pressure likely due to a jump in the strength of the US dollar.

  • Brent JUL 24 down 0.2% at 84.05$/bbl
  • WTI JUL 24 down 0.2% at 79.68$/bbl
  • However, crude remains within yesterday’s range and is up around 2.7%, with sentiment overall remaining supportive ahead of an expected rollover in OPEC+ output cuts.
  • USD: The extension lower for major equity indices and higher long-end treasury yields continue to underpin the greenback bid on Wednesday. With risk sentiment notably dented, emerging market currencies are notably feeling the pinch.