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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 falls circa -2.5% on dollar strength, surging yields and recession fears, despite the US not seeing the Iran deal coming together soon according to State Dept spokesman Price.
- WTI is -2.5% at $76.78 and close to session lows, eyeing support at $76.11 (1.618 proj of Jul 29 – Aug 16 – 30 price swing) in the bear trend extension.
- Most active strikes in the CLX2 at $90/bbl calls followed by $70/bbl puts.
- Brent is -2.3% at $84.16 as it tests support at $84.11 (1.5 proj of Jul 29 – Aug 17-30 price swing), with further support at $82.59 (1.618 proj of same swing).
- Gold is -1.2% at $1623.77, extending lower after its recent bear flag breakout. It next eyes $1610.5 (1 proj of the Jun 13 – Jul 21- Aug 10 price swing).
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.
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