MNI China Daily Summary: Thursday, May 16

MNI BRIEF: China To Take Necessary Measures Following Tariffs

MNI BRIEF: Aussie Unemployment Rises To 4.1% In April

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

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

EZ/UK Bond Supply Calendar: EFSF Synd; SK Auction, BoE APF Monday

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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

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OIL: Oil Prices to Keep Falling on Easing Middle East Risks: Macquarie

OIL
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Odds that oil prices will keep falling this quarter are rising as easing Middle East geopolitical risks reduce the chance of supply disruption, according to Macquarie Group.

  • “We believe the odds are greater that oil falls below $80 versus consistently rising above $90 given the slow but steady march towards a ceasefire and increasingly bearish fundamentals.”
  • Oil is expected to remain in the $80/bbl to $90/bbl range in the current quarter.
  • The rest of the year should see the market into firm bearish territory with OPEC+ returning spare capacity to market and with demand dampened by stubborn inflation.
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Odds that oil prices will keep falling this quarter are rising as easing Middle East geopolitical risks reduce the chance of supply disruption, according to Macquarie Group.

  • “We believe the odds are greater that oil falls below $80 versus consistently rising above $90 given the slow but steady march towards a ceasefire and increasingly bearish fundamentals.”
  • Oil is expected to remain in the $80/bbl to $90/bbl range in the current quarter.
  • The rest of the year should see the market into firm bearish territory with OPEC+ returning spare capacity to market and with demand dampened by stubborn inflation.