Free Trial
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.
COMMODITIES
- Crude oil has seen a volatile session but ultimately sees sizeable declines as the fallout from US regional banking issues continues to hamper risk sentiment and demand expectations.
- WTI is -2.9% at $74.44 off a low of $72.30 that now forms initial support after which lies the bear trigger at 80.86 (Dec 9 low).
- Heavy trading today has seen the day’s most active strikes in the CLJ3 at $70/bbl puts.
- Brent is -2.9% at $80.35, off a low of $78.41 that forms initial support after which lies $77.76 (Jan 5 low).
- Gold on the other hand jumps +2.3% at $1911.4 on a weaker USD and a slump in Treasury yields. It moves closer to resistance at $1923.2 (76.4% retrace of Feb 2 – 28 sell-off) after which sits the key $1959.7 (Feb 2 high). To the downside sits the day’s low $1871.6 and then the 50-day EMA of $1844.3.
WTI 1st future (white) and Gold spot (yellow)Source: Bloomberg
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok