MNI BRIEF:PBOC Starts Temporary OMO Tools To Adjust Liquidity

MNI: China CFETS Yuan Index Down 0.28% In Week of Jul 5

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

MNI: PBOC Sets Yuan Parity Lower At 7.1286 Mon; -0.29% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1286 MON VS 7.1289

INDON/PHILIP Sovs Tighten Through the Front-End

Australia May Housing New Loan Commitment -1.7%

MNI BRIEF: Japan May Negative Real Wage Widens to -1.4%

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

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

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Oil Prices Pause On Lack Of New Drivers

COMMODITIES
  • Oil prices are currently relatively little changed on yesterday’s settlement with no new major progress on the EU mulling a ban on Russian oil imports or headlines on Iran talks.
  • More recent reports of a Ukrainian counter-attack against Russian forces in the north of the country but see some escalation ahead.
  • WTI is -0.3% at $111.76. Initial resistance is seen at the overnight high of $115.01 and then $116.38 (61.8% retracement of Mar 7-15 downleg) whilst support is the 20-day EMA of $102.97.
  • Brent is -0.05% at $115.56, again below the intraday high of $119.48 whilst support is the 20-day EMA of $105.95.
  • Gold is -0.7% at $1922.31 in a continuation of the reaction to Powell dialling up hawkishness yesterday. Resistance remains at $1954.7 (Mar 15 high) and support at $1895.3 (Mar 15 low).
  • US natural gas meanwhile bucked the softer moves elsewhere, up 6% on colder weather.
Energy BulletsCommodities
Energy BulletsCommodities

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