MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

MNI: US MBA: MARKET COMPOSITE -0.2% SA THRU JUL 05 WK

US MBA: REFIS -2% SA; PURCH INDEX +1% SA THRU JULY 5 WK

Indeed Wages Tick Higher, But Future Revisions Are Likely

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Crude Slips Further on Friday with Supply/Demand in Focus

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Crude slips further Friday despite expectations of an OPEC+ output cut extension and commitments by key overproducers to compensate in the coming months.

  • Brent JUL 24 down -0.7% at 80.76$/bbl
  • WTI JUL 24 down -0.8% at 76.25$/bbl
  • OPEC announced earlier the meeting is to be held online and pushed back to June 2.
  • The prompt spread for Brent was close to slipping into a bearish contango structure earlier this week, indicating sufficient supply.
  • Meanwhile, money managers have trimmed their bets on rising prices.
  • Driving demand figures out of the US for the Memorial Day Weekend will help set the tone for the start of the summer driving season.
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Crude slips further Friday despite expectations of an OPEC+ output cut extension and commitments by key overproducers to compensate in the coming months.

  • Brent JUL 24 down -0.7% at 80.76$/bbl
  • WTI JUL 24 down -0.8% at 76.25$/bbl
  • OPEC announced earlier the meeting is to be held online and pushed back to June 2.
  • The prompt spread for Brent was close to slipping into a bearish contango structure earlier this week, indicating sufficient supply.
  • Meanwhile, money managers have trimmed their bets on rising prices.
  • Driving demand figures out of the US for the Memorial Day Weekend will help set the tone for the start of the summer driving season.