Weekly Market Recap (21-25 August)

Monday: The PBoC cut the 1-year LPR rate by less than expected and held the 5-year rate steady: LPR 1-year 3.45% vs. 3.40% expected and 3.55% prior. LPR 5-year 4.20% vs. 4.05% expected and 4.20% prior. PBoC The German July PPI missed expectations: PPI M/M -1.1% vs. -0.2% expected and -0.3% prior. PPI Y/Y -6.0%

Japan CFTC JPY NC Net Positions down to ¥-95.3K from previous ¥-81K

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Baker Hughes total rigs down to 632 from 642 last week

Oil rigs moved from 520 to 512 or -8 rigs Natural gas rigs moved from 117 to 115 or -2 rigs Total rigs moved from 642 to 632 or -10 rigs The trend in rigs continue to the downside. From a year ago, the total rigs are down -133 rigs or -17.4%. The price of

Australia CFTC AUD NC Net Positions declined to $-63.8K from previous $-53.4K

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As the month moves to a close, where have the markets taken traders?

With the month ending next Thursday, what moves did we see in August? The USD moved higher versus all the major currencies: DXY: Looking at the dollar index (weighted dollar index), it moved up 2.28% this month. Looking at the daily chart, the price started the month trading above and below the 100-day moving average

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Brent crude oil drops $1 quick after breaking $84

Brent crude hourly Oil has taken a quick trip lower after brent fell through $84 in the past hour. That leaves oil down 31-cents on the day after rising as high as $84.74 earlier. The selling comes despite the latest US oil rig count falling by anotehr 8 rigs. They’re now down 133 year over