MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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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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