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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.
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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Risk On Boosts Oil Whilst Gazprom Poised To Restate Gas Exports
- Crude oil prices are up almost 1.5% today after yesterday’s surge, receiving a further boost from improved risk-on sentiment evidenced by US equities firming ever since the US open. Modest outperformance for WTI could be a continuation of TD Energy’s force majeure on the Keystone pipeline.
- Ahead, Biden is expected to announce executive action to address climate change tomorrow but is expected at this stage to stop short of declaring a state of emergency with the added powers it could provide.
- WTI (CLU2) is +1.3% at $100.66, having cleared the 20-day EMA of $100.53 and next opening the 50-day EMA of $102.29.
- Gold is +0.1% at $1710.83 after a relatively uneventful day despite broad-based USD weakness. It does little to change its downtrend, with support eyed at $1697.7 (Jul 14 high), clearance of which opens $1690.6 (Aug 9, 2021 low).
- Another more eventful day for gas meanwhile sees TTF prices dip -1.8% with Gazprom poised to restart gas exports through its Nord Stream 1 pipeline on Thursday at reduced capacity after planned maintenance according to people familiar with the matter.
To read the full story
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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.