MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI BRIEF:ECB Unifies Interest On Non-Monetary Policy Deposits

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

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

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES -8.8B CAD IN FEB

ECB Underlying Inflation Metrics Support June Cut Consensus

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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WTI, Brent Uptrend Remains Orderly

COMMODITIES
  • WTI and Brent crude futures are rangebound early Thursday, but holding the bulk of the week's gains and sit just below the cycle highs. A bullish sequence of higher highs and higher lows remains intact and moving average studies are in a bull mode reinforcing the current bull trend conditions and market sentiment.
  • It is worth noting that the trends in both Brent and WTI appear orderly and daily ranges highlight a low volatility environment as price gradually continues to climb. From a technical perspective, this reflects a healthy uptrend. Key short-term support levels to watch are: Brent (Q1) - $72.01, June 17 low and $69.26, the 50-day EMA. WTI (Q1) - $69.54, Jun 17 low and $66.51, the 50-day EMA.
  • NatGas storage change data crosses later today, with markets expecting a build of 64BCF.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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