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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

OIL
OIL: Crude oil moved higher overnight as French President Emmanuel Macron
revealed his belief that the US will withdraw from the Iranian nuclear deal. WTI
& Brent added $0.40 to trade at $68.40 & $74.40 respectively.
- This came after the weekly DoE crude inventory data revealed a surprise
headline draw (much like the one seen in the API inventory estimate on Tuesday),
while distillate & gasoline stocks fell, Cushing stocks ticked higher & US
production edged higher.
- The rejection ahead of 2018 is a concern for bulls when combined with daily
studies correcting from overbought and the proximity of the Bollinger top
($70.22). Bears now look for a close below Wednesday's low ($67.11) to gain
breathing room. Bulls need a close above the YtD high ($69.55) to reconfirm
focus higher.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com