MNI: Japan Dai-ichi Life To Up 30-Year JGBs Above 2%

MNI BRIEF: Policy Move Eyed If Inflation Meets 2% - BOJ's Ueda

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

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1059 TUES VS 7.1043

MNI: UK MAR PSNCR GBP20.74 BN

INDON Sov Curve Flattens Ahead Of BI Decision Tomorrow

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Off Worst Levels, Copper Recovers

COMMODITIES
  • Lacklustre session for oil as the gains made over recent weeks have been consolidated. WTI crude futures holding onto marginal gains after rallying back above the $60 level overnight.
  • Copper outperforms (+2.5%) amid renewed optimism for the bellwether metal. Southern Copper Corp. noted that prices are already well above the incentive level for new projects that would help ease the supply squeeze. However, it can take twice as long to build mines now than in the past, meaning the market wouldn't see that new supply for eight to ten years. These lags from decision to production will make the copper price cycle "a little bit longer than in the past."
  • Precious metals made gains in line with the broad commodity index. Both spot gold and silver rose 0.6% aided by a weaker dollar throughout the US session. Goldman Sachs reiterated their US$2,000 target price for the gold, despite the recent liquidation of speculative positions from volatile adjustments in US yields. In a research note they commented that "due to focus on inflation risks, gold should be able to withstand the gradual pressure on rates."
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.