MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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 Surges On OPEC+ Cuts Speculation and US Yields Sliding

COMMODITIES
  • Commodities broadly see strong gains as Treasury yields slide and the USD loses some of its shine, with an additional boost for crude oil coming on speculation that OPEC+ could cut production by more than 1mbpd in what would be the largest reduction since the pandemic. A final decision is to be made on Wednesday.
  • WTI is +4.8% at $83.29 with a session high of $84.56. It cleared the 20-day EMA of $87.26, opening the 50-day EMA of $87.26. Most active strikes in CLX2 today have been $90/bbl and then $100/bbl calls.
  • Brent is +4.2% at $88.72 with a session high of $89.82. It cleared the 20-day EMA of $88.93 and moved closer to the 50-day EMA of $92.24.
  • Gold is +2.2% at $1696.7 having cleared two resistance levels, the higher being $1688.0 (Sep 21 high) to leave $1707.1 (Sep 14 high) open, and in turn testing what was deemed only a short-term corrective bounce.
Energy BulletsCommodities
Energy BulletsCommodities

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