MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

MNI: GERMANY IMPORT PRICE INDEX -0.4 % Y/Y, 0.0% M/M

MNI: SWEDEN MAY RETAIL SALES +0.8% Y/Y

MNI: UK Q1 GDP +0.7% Q/Q, +0.3% Y/Y

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

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Oil More Stable, But No Sign of Bucking Monday Weakness

COMMODITIES
  • WTI and Brent crude futures traded on a more stable footing Tuesday, although showed little sign of wholly reversing the Monday losses.
  • Having traded back above $71.50/bbl level, WTI faded from the European morning, briefly showing back below the $70/bbl level. Despite weakness on Monday/Tuesday, WTI futures maintain a bullish outlook. Initial support is seen at $69.78, the 20-day EMA. Key support has been defined at $67.56, Sep 9 low.
  • The correction lower in NatGas markets is extending off the mid-September high, with the market lower for a fourth consecutive session. First support undercuts at the September lows at $4.378.
  • Gold and precious metals markets were more positive, with the yellow metal recouping losses toward the $1800/oz level. Despite the recovery off last week's lows, bears remain in control, and a deeper decline would open the key support at $1690.6, Aug 9 low. On the upside, initial firm resistance has been defined at $1808.7, Sep 14 high. A break of this level is required to ease bearish pressure.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.