MNI INTERVIEW: Fed QT Likely To Linger After Rate Cuts Start

MNI BRIEF: BOE Markets Head Sees Wider Collateral, More Repos

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CBRT Data Watch

NBH Data Watch

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

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

Spot Gold Rises For A Third Session Running

COMMODITIES
  • Spot gold has risen for a third session running and is currently up 0.6% on the day at $2,191/oz.
  • Sights are still on $2230.1 next, a Fibonacci projection, while key short-term trend support has been defined at $2146.2, the Mar 18 low.
  • Oil prices are broadly unchanged Wednesday, despite a surprise build in US crude inventories. A Bloomberg survey had expected a small draw, while API data had suggested a large build.
  • WTI MAY 24 is currently unchanged on the day at $81.6/bbl.
  • For WTI futures, a bull theme remains intact. Sights remain on $83.87 next, the Oct 20 ‘23 high. Support to watch is $79.83, the 20-day EMA.
  • For Brent, JPMorgan maintains a baseline view for prices to reach $90/bbl by May, and $85/bbl in H2 2024, but has the potential to rally to $100/bbl this year.
  • Meanwhile, the Henry Hub May24 contract showed weakness Wednesday, driven by curtailed LNG feedgas flows and high end of winter storage flows.
  • US Natgas MAY 24 is down 3.8% at $1.72$/mmbtu.
EM BulletFixed Income BulletsHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

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.