MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

IFO disappoints

MNI: GERMANY JUL IFO BUSINESS CLIMATE INDEX 87

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

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

Crude Retreats, Gold Sharply Pares Gains After Fresh All-Time High

COMMODITIES
  • Crude markets are headed for the US close trading lower on Thursday, amid a strong recovery in the greenback following dovish European central banks and stronger-than-expected US data.
  • WTI is down 0.3% on the day at $81.0/bbl.
  • Last week’s gains and break of $79.87, the Mar 1 high, confirms a resumption of the uptrend that has been in place since mid-December last year. Sights are on $83.87 next, the Oct 20 ‘23 high. Support to watch is $79.08, the 20-day EMA.
  • Spot gold is down 0.2% on Thursday to $2,182/oz, unwinding a rally earlier in the day which had taken the yellow metal to another all-time high at $2,221.
  • The earlier rally confirms a resumption of the primary uptrend. Moving average studies remain in a bull-mode condition, reflecting positive market sentiment. This signals scope for a climb towards $2230.1, a Fibonacci projection. On the downside, key short-term trend support has been defined at $2146.2, the Mar 18 low.
  • The recovery in the greenback also weighed on silver today, which fell by 3.2% to $24.77/oz.
EM BulletFixed Income BulletsHomepageBulletMarketsEmerging 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.