MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

Japan Tokyo Jul Core CPI +2.2% Y/Y

MNI BRIEF: Japan July Tokyo Core CPI Rises 2.2% Vs. June's 2.1%

MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

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

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

Crude Oil Climbs On Fading Hopes Of Near-Term Ceasefire Deal In Gaza

COMMODITIES
  • Crude prices are headed for their highest close since Jan. 31. Prices are finding support from diminishing hope of any near-term ceasefire deal in Gaza and thus no end in sight for Middle East tensions.
  • Israeli PM Netanyahu, appeared to pour cold water on a ceasefire, telling reporters that Israel, "will not suffice with less," than a decisive victory in their war against Hamas.
  • The attacks in the Red Sea have become increasingly dangerous in the last days and the level of threats have likely not peaked yet, Maersk CEO Vincent Clerc said.
  • Oil demand is better than expected in the first week of February with a boost in China from the Lunar New Year holiday and with better weather in the US and Asia according to JPMorgan.
  • WTI is +3.5% at $76.47, gaining through the session to push closer to resistance at $76.95 (Feb 1 high) after which lies key resistance at $79.29 (Jan 29 high).
  • Brent is +3.3% at $81.85, clearing $81.55 (Feb 1 high) to key open a key short-term resistance at $84.17 (Jan 29 high).
  • Gold is -0.1% at $2032.73 despite ceasefire diminishing prospects, having mostly reversed a fleeting low of $2020.29 that remained above support at $2015.0 (Feb 5 low). The yellow metal sees some modest net downward pressure from the USD index reversing yesterday’s decline
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.