CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

MNI: CANADA JUN INDUSTRIAL PRICES +0.0% MOM; EX-ENERGY +0.1%

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

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

$1.2190/1.2200 Moves Within Touching Distance

EUR
MNI (London)
  • Recovery off the Feb17 low of $1.2023 extended further Monday, albeit with a European morning dip to $1.2091, retested the Feb16 high at $1.2169 which capped.
  • Rate eased to $1.2151 before closing at $1.2158.
  • Asia picked up the recovery baton, took rate through $1.2169 and on to $1.2177 before it met headwind resistance. Asian traders noted resistance in EUR/JPY at and above Y127.80 which was seen providing the main counter.
  • Rate eased to $1.2165 then settled around $1.2170 ahead of the European open.
  • Resistance $1.2177, stronger between $1.2190/97(Jan22 high/61.8% $1.2349-1.1952) with talk in Asia that a break of $1.2200 to prompt further demand. Leveraged accounts reported to have joined IMM accounts and have added to longs. Break of $1.2200 to expose $1.2223/30(Jan13-11 highs) ahead of $1.2255(76.4%).
  • Support $1.2155/50, $1.2130/10.
  • Italy Ind. Orders/Sales 0900GMT, EZ CPI 1000GMT.
  • US Housing data at 1400GMT, Richmond Fed 1500GMT with main focus on Fed Powell Semi-Annual MonPol Report at 1500GMT.
  • UST yields, Fed speak and US fiscal Stimulus headlines remain key. Month-end approaches. US corporate USD demand expected to emerge Tue/Wed, month-end models suggest USD sales to be seen at Friday fixes.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets

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.