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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.
COMMODITIES
- Crude oil is edging gains after what’s been a mixed session full of two-way trading, ultimately consolidating yesterday’s jump on a larger than expected draw on US inventories. Strong US GDP revisions and a surprise drop in initial jobless claims also helped see a bid in risk assets before continued USD strength helped weigh against it.
- WTI is +0.3% at $69.75 with a high of $70.55 not troubling resistance at $72.72 (Jun 21 high).
- Highlighting the two-way trade, highest volumes for CLQ3 options have been in $65/bbl puts (6.2k) and $72/bbl calls (4.1k) at typing.
- Brent is +0.2% at $74.17 also not troubling resistance at $77.24 (Jun 21 high).
- Gold is +0.01% at $1907.54 after a volatile session that saw a low of $1893.22 after the US data before the move below $1900 sparked dip buying that helped spark some potential short covering to drive spot back little changed on the day . The trend still points south though, with the move opening next support at $1885.8 (Mar 15 low).
Spot goldSource: Bloomberg
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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