MNI China Daily Summary: Monday, November 18

MNI BRIEF: China’s October Youth Employment Rate Remains High

MNI BRIEF: Beijing Retail Sales Growth Decline Narrows In Oct

MNI: PBOC Net Injects CNY38.9 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1907 Mon; +0.11% Y/Y

CHINA PBOC CONDUCTS CNY172.6 BLN VIA 7-DAY REVERSE REPOS MON

Japan Sep Machine Orders -0.7% M/M

EZ/UK Bond Supply Calendar: EU Synd; SK, BE Auction on Monday

MNI: US SEP BUSINESS INVENTORIES +0.1%; SALES +0.3%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Morgan Stanley Raises Oil Forecast

OIL

Morgan Stanley has raised its Q4 Brent forecast to $95/b, up from $82.5/b, although it remains sceptical that prices could surpass $100/b.

  • The bank said that the market could remain under supplied for several quarters amid Saudi Arabian and Russian output cuts.
  • However, it said that prices above $100/b would be “stretched”, according to Reuters.
  • "With these cuts, fundamentals are clearly tighter-for-longer and prices are well supported," Morgan Stanley said in a note, adding prices were well supported around current levels as long as the market remained in deficit.
  • In addition to raising its Q4 brent price, it increased its Q1 2024 outlook by $12.5/b to $92.5/b. Its Q2 prediction rose to $90/b.
  • Q3 2024’s Brent forecast rose by $7.5/b to $87.5/b and Q4 increased by $5/b to $85/b.
Energy BulletsMorgan Stanley Market NewsCommodities
Energy BulletsMorgan Stanley Market NewsCommodities

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