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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

OIL
OIL: WTI & Brent sit ~$0.20 below their respective settlement levels, although
neither contract has tested Monday's session low in Asia-Pac hours, after both
shed over $1.00 come settlement time in the first trading of the week.
- Monday bought about a session of repetitive themes for crude, with Coronavirus
worry pressuring the space as OPEC nations pointed to their ability to stabilise
the oil market, while Libya continued to warn of risks to what remains of its
crude production capabilities owing to the ongoing power struggle in the
country.
- Elsewhere Venezuelan issues were highlighted. Platts noted that PDVSA shut
down its final two operating refineries in the country, while BBG reported that
President Maduro "has proposed giving majority shares and control of its oil
industry to big international corporations."
- Weekly API inventory estimates are due for release later today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com