MNI BRIEF: China June CPI Hits Three Month Low

RBNZ MPC SAYS OCR "HAS SIGNIFICANTLY REDUCED CPI"

MNI: RBNZ LEAVES OCR AT 5.5%

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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

ITALY MAY INDUSTRIAL PRODUCTION +0.5% M/M ; -3.3% WDA Y/Y

Contrasting Momentum Dynamics Underscore Need For July Data

Services Drive Downside Surprise in CPI-ATE

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 Loses Early Gains From Russian Unrest

OIL

Oil prices are currently close to unchanged during APAC session although they have been trading in a range of about a dollar. Earlier in the session they received some support from the failed uprising in Russia, as it remains a major oil producer. But WTI is flat now at around $69.18/bbl, close to the intraday low of $69.01. Brent is marginally higher at $73.92, close to the low of $73.76. The USD index is down 0.1%.

  • WTI breached $70 early in APAC trading but couldn’t hold it and has trended down since. Brent approached $75 but stopped at $74.80. Technicals remain bearish.
  • The unrest in Russia over the weekend is generally not expected to impact output. According to Bloomberg, Goldman Sachs thinks the market will remain focussed on fundamentals but RBC believes that the risk of further trouble “must be factored into our oil analysis”.
  • Later there is the German IFO survey for June and the US Dallas Fed June manufacturing index. ECB President Lagarde will give opening remarks at the ECB Forum.
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.