TRUDEAU CALLS BOC RATE CUT 'A STEP IN THE RIGHT DIRECTION'

MNI BRIEF: BOC Governor Tiff Macklem Opening Statement

MNI BRIEF: Text of Bank of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Dollar Extends Bounce Off Support on NFP Beat

FOREX
  • The May NFP report was swallowed positively by markets Friday, with the headline beat on job gains allied with positive net revisions to make for a solid release. Markets brushed off the unchanged unemployment rate (median was for a 0.1 ppts drop) to help the USD Index bounce further off support at the 50-dma, which remains a key for markets headed through June and the next Fed rate decision.
  • The JPY was among the weakest currencies in G10 Friday, with EUR/JPY hitting fresh YTD highs as the cross rallied through the Y140.00 bull trigger (the April 2022 high) to hit the highest levels since 2015.
  • USD/CAD extended the recent downtick into the Friday close, extending the CAD rally that followed the hawkish nudge on Thursday from Dep Gov Beaudry, who noted that the Bank can act “more forcefully” on rates.
  • The recovery in NZD/USD across the May stalled Friday as the pair failed to mount an attempt on the key resistance at the 0.6601 50-dma.
  • Rate decisions from the Eurozone, Australia, India, Russia and Poland should keep markets busy next week. China PMI, trade balance & inflation releases are the data highlights alongside Japanese GDP.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.