CANADA JULY CPI +2.5% YOY, SLOWEST SINCE MARCH 2021

MNI China Daily Summary: Tuesday, Aug 20

China Repo Rates Rise On Tuesday

MNI: PBOC Net Drains CNY236.6 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1325 Tues; +2.12% Y/Y

MNI: US REDBOOK: AUG STORE SALES +4.8% V YR AGO MO

MNI: US AUG PHILADELPHIA FED NONMFG INDEX -25.1

MNI: CANADA JUL CPI INFLATION +0.4% M/M, +2.5% YY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Set For The First Weekly Gain Since October

OIL

Oil has built on Thursday's impressive rally, with gains extending in the first part of Friday trade. Brent crude was last just above $77/bbl, +0.57% higher for the session. At this stage we are tracking +1.60% firmer for the week, which would be the first gain since mid October. For WTI we were last near $72/bbl (tracking +1% firmer for the week).

  • The sharp USD sell-off, along with the plunge in US yields in the past week, has clearly aided the oil recovery. Firmer risk appetite in the equity space has also been a positive.
  • On the demand outlook, global oil demand growth forecast for 2024 has been revised up by 130kbpd to 1.1mbpd. Still, expectations for this year’s demand growth have been lowered as the weakening economic climate is slowing down oil demand growth, according to the IEA Monthly Oil Market Report.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.