MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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

Oil Close To Reversing Yesterday’s Dip

COMMODITIES
  • Crude oil prices have bounced strongly after yesterday’s losses were led by Fed tightening fears. The latest move has been boosted by a marked recovery in US equities from earlier lows, along with a general backdrop of rising geopolitical tensions.
  • The IMF cutting its 2022 global economic growth forecast made little difference compared to broader moves seen today.
  • WTI is +2.25% at $85.2. Resistance is seen at $87.1 (Jan 20 high) whilst support is materially lower at $81.90 (Jan 24 low).
  • Today's most active strikes in the H2 contract have been $73/bbl puts.
  • Brent is +2.0% at $88.02. Next resistance is $89.5, the Jan 19 high and bull trigger, whilst support is $85.04 (Jan 24 low).
  • Gold is up +0.3% at $1848.6, having come off new recent highs of $1853.9. It earlier moved through two resistance levels at $1848.0 and $1849.1, potentially opening $1871 (Nov 18 high).
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.