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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
- An intensification of Russian aggression fears has pushed crude oil prices up circa 1.5% today.
- The latest move has been dialled back as markets take in the fact Zelensky might have been sarcastic on headlines that Russia could attack on Wed, but risk-off sentiment remains after the US earlier closed its Kyiv embassy.
- Earlier, EU Coordinator Borrell says the JCPOA deal is “in sight” re the Iranian nuclear deal, which could boost oil supply.
- WTI is +1.6% at $94.64 having earlier cleared the second resistance level of $95.7 (2.764 proj of Dec 2-9-20 price swing). Gains have been heavily loaded in front-end contracts.
- Brent is +1.2% at $95.60, resistance remains at $97.36 (2.618 proj of the same price swing) with support at $89.93 (Feb 8 low).
- Gold is up strongly, +0.8% at $1872.8. It touched a high of $1874.17, clearing two resistance levels of $1871.0 (Nov 18 high) and next opening key resistance of $1877.2 (Nov 16 high).
Gold 1st futureSource: 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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