MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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

Gold Surges Whilst Oil Ultimately Little Changed On US Data

COMMODITIES
  • Crude oil has seen a mixed day and is ending it broadly flat having reversed initial gains following weaker wage growth in the US payrolls report. It leaves 5+% declines for the week, the largest weekly loss in a month with weaker demand concerns winning out over the week as a whole.
  • WTI is +0.3% at $73.89, still sitting close to support at $72.46 (Jan 5 low) but not troubling it having previously cleared the key short-term support at $76.79 (Dec 29 low). The day's most active strikes in the CLG3 are once again for $70/bbl puts.
  • Brent is -0.1% at $78.61, also hovering above support at $77.61 (Jan 5 low).
  • Gold is +2% at $1868.96, an outright winner with the USD sliding and yields tumbling. It pushes through resistance at $1865.1 (Jan 4 high) to open $1876.0 (3.0% 10-dma envelope).
  • Gas: TTF ended the week down almost 10% wk/wk with warm weather extending through the two-week forecast. The front month contract has now fallen 57% since high in early December.
  • Weekly moves: WTI -5.9%, Brent -4.5%, Gold +2.5%, US Nat Gas -18.6%, EU TTF Nat Gas -9%
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.