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EURIBOR

Latest Fix (22-10-2021)

EUROPEAN COUNCIL

EUCO 2nd Day Starts After Little Progress On Energy Last Night

FRANCE T-BILL AUCTION PREVIEW

Up to E5.6bln on offer next week

HUNGARY

NBH Opens The Door For Bigger Hikes

UK DATA

PMI: More focus on inflation

OIL
OIL: The major oil metrics shed around $0.30, with WTI last trading at $67.95 &
Brent trading around $74.45.
- This came as the leaders of South & North Korea met and struck a generally
upbeat tone re: relations going forwards.
- Traders also continue to monitor the Iranian nuclear deal situation.
- This all came after reports suggested that the latest Genscape Cushing
inventory data (released on Thursday) pointed to a build of ~734K barrels.
- As ever traders will eye the latest Baker Hughes rig count data due later
today.
- The rejection ahead of 2018 highs on Tuesday is a concern for bulls when
combined with daily studies correcting from overbought and the proximity of the
Bollinger top ($70.22). Bears now look for a close below Wednesday's low
($67.11) to gain breathing room and hint at a correction back to $65.96 where
the 21-DMA is found. Bulls need a close above the YtD high ($69.55) to reconfirm
focus on $70.94-73.25 where the medium term bull channel top is noted.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com