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MNI BRIEF: BOJ's 2% Target Far,  Easing Needed - Takata

MNI BRIEF: Aussie GDP Grows 0.4% Q/Q, Beats Expectations

MNI: PBOC Net Drains CNY356 Bln Wednesday via OMO

MNI: GERMANY JUL FACTORY ORDERS -11.7% M/M

Australia Q2 GDP +0.4%; Exports, Investment Contribute

Futures Extend Gains

MNI BRIEF: China Will Look To Belt & Road Amid Trade Tensions

MNI BRIEF: BOC Staff Paper Sees Few Signs Of 'Greedflation'

MNI BRIEF: Canada Raises Bank Capital Buffer On Housing Risk

Oil is slightly lower in Asia-Pac trade, WTI....>

OIL
OIL: Oil is slightly lower in Asia-Pac trade, WTI last down $0.21 at $63.59,
Brent is down $0.01 at $69.25. Oil is broadly flat compared to the Thursday open
but has come off highs around $64.77, prices dipped in the afternoon in US trade
after Brent rose above $70/bbl for the first time in 3-Years which prompted some
profit taking.
- Overnight reports that US President Trump to extend sanctions relief to Iran
weighed on oil, the decision will be announced in the US on Friday morning.
- MNI technical analaysis sees WTI support at $63.09 - Hourly resistance Jan 9
now support, resistance is seen at $64.15 - Hourly support Jan 11 now
resistance.  The contract took its first backward step for 2018 with a lack of
follow through on fresh 2018 & 3+yr highs. When combined with daily studies
overdue a correction it increases the correction risk. The $61.09-63.09 support
region is key. Bears need a close below $62.56 to ease bullish pressure and
below $61.09 to shift focus back to $58.60-60.08 where the bull channel base and
21-DMA are situated.
MarketsFixed Income NewsForeign Exchange News
MarketsFixed Income NewsForeign Exchange News

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