MNI: PBOC Net Drains CNY215.65 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1318; +0.58% Y/Y

CHINA PBOC CONDUCTS CNY0.62 BILLION VIA 7-DAY REVERSE REPOS TUE

CHINA SETS YUAN CENTRAL PARITY AT 7.1318 TUE VS 7.1345

MNI China Daily Summary: Monday, Aug 5

MNI BRIEF: Taiwan FX Reserves Down In July

Room To Pause For The BI

MNI BRIEF: Japan June Real Wages Turn Positive; 1st in 27 Mths

Real Wages Surge Into Positive Territory, But Spending Still Negative

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

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Crude Maintains Losses After Stronger US Payrolls Data

OIL

Crude markets are holding below the previous close levels amid a stronger US dollar after September US employment numbers came out higher than expected (+336k vs. +170k, +187k prior). Crude markets are currently heading for a net decline of around 9$/bbl this week.

  • US DATA: AHE Unrounded - Sep'23: Total AHE: M/M (SA): 0.207% in Sep from 0.237% in Aug, Y/Y (SA): 4.15% in Sep from 4.255% in Aug
  • Economic concerns and possible future interest rate rises and a stronger USD have more than offset the OPEC+ commitment to output cuts while crude has traded down through technical support levels in the week.
  • Next technical support for Brent is at the 50.0% retracement of the May 4 - Sep 28 bull run at 82.80$/bbl. WTI support is at the 80$/bbl handle and 79.57$/bbl a Fibonacci retracement point.
    • Brent DEC 23 down -0.5% at 83.62$/bbl
    • WTI NOV 23 down -0.7% at 81.7$/bbl
    • WTI-Brent down -0.04$/bbl at -3.24$/bbl
    • Brent DEC 23-JAN 24 down -0.18$/bbl at 1.25$/bbl
    • Brent DEC 23-DEC 24 down -0.5$/bbl at 6.45$/bbl
    • WTI NOV 23-DEC 23 down -0.17$/bbl at 1.33$/bbl
    • WTI DEC 23-JAN 24 down -0.15$/bbl at 1.25$/bbl
    • WTI DEC 23-DEC 24 down -0.5$/bbl at 7.47$/bbl
Energy BulletsCommodities
Energy BulletsCommodities

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