MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI: GERMANY NOV UE RATE (SA) 6.1% (FCST 6.1%); OCT 6.1%

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

MNI BRIEF: Trump Tariffs To Push China, EU Cooperation - BOC

MNI: PBOC Net Drains CNY156.1 Bln via OMO Friday

MNI: ITALY NOV FLASH HICP +0% M/M, +1.6% Y/Y

MNI: EUROZONE NOV FLASH HICP +2.3% Y/Y

MNI: UK OCT M4 MONEY SUPPLY -0.1% M/M, +3% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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Still on the front foot

OIL

Oil continued to drive higher yesterday as the positive effects of vaccine developments continued to buoy optimism about the global economy.

  • Oil was also helped by a surprise drawdown in the DOE crude inventory data. Inventories had been expected to rise 234k barrels but instead fell by 754k barrels.
  • The weaker dollar has also helped oil, with the DXY index sliding lower yesterday.
  • Brent and WTI have shown little movement overnight.
  • Out technical analyst notes that Brent is currently on course to move towards the psychological $50/bbl level while in WTI the break above $44.59/oz earlier this week will set up a move towards $48.07, a Fibonacci projection.
Energy BulletsCommodities
Energy BulletsCommodities

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