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JGB TECHS

(U2) Solid Bounce Into the Close

USDCAD TECHS

Bullish Price Structure

AUDUSD TECHS

Clears Key Support

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Retracement Mode

COMMODITIES

Oil Supply Constraints Trump Lower Demand

USDJPY TECHS

Pullback Considered Corrective

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  • The latest update to the Jodi world oil database is due today as the market tries to understand the balance between demand reduction from the global economy and China against the reduction to supply from Russia and OPEC+ quota compliance.
  • More Chinese data is expected for release later this week and may help to shed some more light on to the impact the surge in covid cases has had on their oil, products and LNG demand, and refinery utilisation.
  • EU foreign ministers are meeting in Brussels today to discuss the next round of sanctions against Russia. Hungary have been the most strongly opposed to the proposed oil ban with their economy dependant on Russian supply without any readily available alternatives. Germany is aiming to stop Russia oil imports by the end of the year even if no EU agreement is reached.

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  • The latest update to the Jodi world oil database is due today as the market tries to understand the balance between demand reduction from the global economy and China against the reduction to supply from Russia and OPEC+ quota compliance.
  • More Chinese data is expected for release later this week and may help to shed some more light on to the impact the surge in covid cases has had on their oil, products and LNG demand, and refinery utilisation.
  • EU foreign ministers are meeting in Brussels today to discuss the next round of sanctions against Russia. Hungary have been the most strongly opposed to the proposed oil ban with their economy dependant on Russian supply without any readily available alternatives. Germany is aiming to stop Russia oil imports by the end of the year even if no EU agreement is reached.

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Type

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