Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FOREX
- Net long specs on the US Dollar ticked lower in the week ended April 19 despite the USD spike, decreasing by 9.4K to a total of 71.8K contracts.
- Speculative positions against the Yen continue have been growing rapidly, currently standing at November 2018 highs (+107.2K) as investors have become increasingly bearish on JPY amid monetary policy divergence.
- The global risk off environment triggered by the renewed geopolitical tensions has been supporting ‘safe-haven’ assets such as the US Dollar.
- In addition, hawkish comments from Fed policymakers continue to levitate US ST bonds yields, pushing preference for the greenback.
- Last week, St. Louis President Bullard mentioned that a potential 75bps hike cannot be ruled out given the current level of inflation.
- The DXY index broke above the 101 level last week and is gradually approaching the 102 resistance.
- Key resistance to watch on the topside stands at 102.98, which was the high reached in March 2020 following the Covid19 shock.
- On the downside, support to watch stands at 100, followed by 99.7290, which corresponds to the 76.4% Fibo retracement of the 89.21 - 102.98 range.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok