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CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

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Japan Tokyo Mar Core CPI +2.6% Y/Y

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Retreats From Closing Highs

OIL

Oil is slightly lower in Asia-Pac trade, retreating from intra-day highs seen at the close on Friday. WTI is down $0.37 from settlement levels at $71.70/bbl, Brent is down $0.35 at $73.75/bbl. WTI and Brent crude futures are both holding most of last week's solid gains and the 10% rally from the Monday low, though markets will continue to assess demand worries from the spread of the delta variant. Oil supermajors earnings in the coming week will be closely eyed, with reports from ExxonMobil, ConocoPhillips among others due. Support for WTI is seen at $69.31, the 50-day EMA while Brent support is at $67.44/43 the low from Jul 20 / 76.4% of the May 21 - Jul 6 rally.

Energy BulletsCommodities
Energy BulletsCommodities

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