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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.
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Free AccessCrude Suffers With Stock Build And Weak Data Whilst Gold Swings With USD
- The oil market has fallen on the day, amid rising US crude stocks and weak economic data from China. WTI has shown a largely muted reaction to the Fed’s decision to hold rates steady and subsequent communications.
- EIA Weekly US Petroleum Summary - w/w change week ending Jan 26: Crude stocks +1,234 vs Exp -225, Crude production +700, SPR stocks +892, Cushing stocks -1,972
- The number of tankers carrying crude oil through the Gulf of Aden has significantly declined after a laden fuel-tanker was hit by a missile strike on Friday, Clarkson data showed. Countries in the Middle East are still awaiting the US response to the killing of three of its service personnel in a drone strike at a Jordanian outpost.
- WTI is -2.5% at $75.86, a step closer to support at $74.76 (50-day EMA).
- Brent is -1.4% at $81.71, a step closer but still a little way off support at $79.40 (50-day EMA).
- Gold is -0.25% at $2031.60 after a volatile session that saw a high of $2055.92 as the dollar slumped on weak US data before an intraday resurgence as Powell pushed back on March Fed cut prospects.
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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.