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GBPUSD TECHS

Approaching Key Resistance

FED

Reverse Repo Operations, Moderating

US TSY OPTIONS

Broken Midcurve Call Fly

COMMODITIES

Oil Benchmarks Shrug Off Tanker Seizure Off UAE Coast

EURUSD TECHS

Approaching The 50-Day EMA

EQUITIES

Late Rally Counters Early Negativity

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  • Following the drift in oil prices into the Wednesday close, markets have stabilised somewhat Thursday, with both WTI and Brent benchmarks in minor positive territory. Focus turns to the OPEC monthly oil market report, due to cross at 1315BST/0815ET.
  • Precious metals are more mixed, with gold and silver lower by around 0.4%. Markets watch for the release of US CPI later today, with the Y/Y rate seen rising to the highest rate since 2008.
  • Gold directional parameters are unchanged, with Gold key short-term triggers at; $1916.6, the Jun 1 and bull trigger and $1856.2, the Jun 4 low.