MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

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

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

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: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

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

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

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 Recovers Off Lows While Gold Loses Shine

COMMODITIES
  • WTI and Brent crude futures came under pressure in early NY hours, pressing prices back toward yesterday's lows before stabilising. This rejection of the break below $80/bbl in WTI futures keeps the focus pointed higher, with key resistance and the bull trigger is at $85.41, Oct 25 high. A break of this hurdle is required to confirm a resumption of the uptrend and resume the bullish price sequence of higher highs and higher lows. This would open $87.45, a Fibonacci projection.
  • Gold traded poorly, reversing much of the early outperformance as the USD Index managed to print a fresh YTD high for a fifth consecutive session. $1845.29 - the Nov 12 low - marks first support, with a break below exposing $1822.4, the Nov 10 low.
  • Focus Wednesday turns to the DoE crude inventories data, with markets expecting a build of just shy of 900k barrels for the headline.
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.