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AUSSIE 10-YEAR TECHS

(Z1) Shallow Bounce

USDCAD TECHS

Trend Needle Still Points North

WHITE HOUSE

Biden Losing Support On COVID-19 Strategy: Poll

AUDUSD TECHS

Slide Accelerates

LATAM

Snapshot: USDMXN Set To Post Highest 2021 Close

EURJPY TECHS

Still Looking For Weakness

OIL
OIL: WTI & Brent print $0.70 & $0.80 above their respective settlement levels at
writing.
- Crude has tracked broader risk appetite since yesterday's European session,
rebounding from lows, with reports of a surprise drawdown in headline crude
inventories in the latest weekly API inventory estimates also helping in more
recent trade. The remainder of the report revealed a build in stocks at the
Cushing hub, a larger than expected build in gasoline stocks, and a smaller than
expected drawdown in distillate stocks, which is a lot less bullish than looking
at the headline in isolation.
- Elsewhere, source pieces continue to do the rounds re: the potential for OPEC+
to extend/deepen its current production pact. As a reminder, the current pact
expires in March, and senior oil officials from the likes of OPEC itself & Saudi
have noted that it is too early to come to such a decision/make any judgements
(as is the norm).
- Weekly DoE inventory data is due later today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com