MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI: SWEDEN NOV UNEMPLOYMENT 7.4%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Crude on the Rise, Precious Metals Rebound

COMMODITIES
  • WTI has gained ground after more reassuring US jobless data stemmed some of the growing pessimism for the near-term macroeconomic outlook.
  • WTI Sep 24 is up 1.5% at $76.3/bbl.
  • Key resistance is seen at $78.88, the Aug 1 high. Short-term gains would allow an oversold condition to unwind. Key support lies at $72.23, the Jun 4 low.
  • Spot gold has risen by 1.8% to $2,425/oz today, putting the yellow metal on course for its first gain in six sessions.
  • Recent weakness in gold appears to be a correction. A resumption of gains would open $2,483.7, the Jul 17 high, while support is seen at the 50-day EMA, at $2,377.4.
  • Silver has rallied by 3.4% to $27.5/oz.
  • Initial firm resistance has been defined at $28.967, the 50-day EMA, while key support lies at $26.018, the May 2 low.
  • Platinum has also risen by 2.0% to $936/oz, amidst the further recovery in risk sentiment today.
  • Meanwhile, copper is up by 0.7% at $398/lb, lifting the red metal off the near five-month low reached yesterday.
  • A bear cycle in copper futures remains intact and the clear break of $405.57, 76.4% of the Feb 9 - May 20 bull cycle, opens $372.35, the Feb 9 low. Initial firm resistance is $431.27 the 50-day EMA.
EM BulletFixed Income BulletsHomepagemarkets-real-timeBulletMarketsEmerging Market NewsForeign Exchange Bullets
EM BulletFixed Income BulletsHomepagemarkets-real-timeBulletMarketsEmerging Market NewsForeign Exchange Bullets

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.