MNI BRIEF: US Treasuries Seen Increasingly Risky-JH Paper

MNI: FED’S POWELL: TIME HAS COME FOR POLICY TO ADJUST

MNI China Daily Summary: Friday, Aug 23

MNI: PBOC Net Injects CNY241.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Fri; +2.17% Y/Y

CHINA PBOC CONDUCTS CNY379.3 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: US JUL NEW HOME SALES +10.6% TO 0.739M SAAR

EZ/UK Bond Supply Calendar: EFSF RfP Sent, EU-Bonds Due Monday

MNI: CANADIAN JUN RETAIL SALES -0.3%; SALES EX-AUTOS/PARTS +0.3%

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

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

Oil Up For Sixth Week, Gold Slides On Hawkish Fed

COMMODITIES
  • Crude oil prices are up 0.3-0.9% today and currently ending the week up 2.0-2.6% for the sixth consecutive weekly gain.
  • Russia-Ukraine geopolitical developments have been mixed today, with Ukraine President Zelensky criticizing the media for making the situation appear worse but later headlines including Russia boosting military readiness with blood supplies.
  • WTI is +0.3% at $86.9 having cleared first resistance of $88.54 before retracing, in a similar pattern to yesterday. Support is seen at $85.01 (Jan 26 low).
  • Brent is +0.9% at $90.15, having earlier cleared two resistance levels and opening $93.89 (2.236 proj of the Dec 2-9-20 price swing) before retracing. Support is seen at $87.79.
  • Gold meanwhile has fallen for the third day running, -0.7% at $1784.8 for a -2.75% drop on the week on Fed hawkishness. It twice tested second support at $1782.8 (Jan 7 low), a clear break of which could open the key support of $1753.7 (Dec 15 low).
Energy BulletsCommodities
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.