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USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Holding Above Recent Lows

US EURODLR OPTIONS

BLOCK, Large 3Y Midcurve Put Condor

EURJPY TECHS

Strong Bounce

OIL

Oil has moved higher in Asia on Tuesday, shaking off a negative tone at the start of the session to build on yesterday's gains. WTI it up $0.62 at $54.17, brent is up $0.58 at $56.93.

  • Crude futures were boosted on demand optimism as the US moved towards a coronavirus relief bill, the news saw the greenback come off best levels which spurred the bid in oil. Saudi Aramco were also positive on demand, the oil giant said it saw demand returning to pre-pandemic levels later in 2021, while Japan said it would look to reinstate a travel incentive programme from March.
  • As a note the Joint Technical Committee will meet today to discuss compliance to output levels (said to be 99%), while the JMMC (Joint Ministerial Monitoring Committee, meeting of ministers) will meet on Wednesday. The next full OPEC+ meeting is on March 4.