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A day heavy on noise, but light on market.....>

FOREX
FOREX: A day heavy on noise, but light on market moves
-The greenback marched higher for much of the Thursday session, with the Fed
minutes continuing to provide the launchpad for today's USD rally. Technicians
eye the failure of the USD index to close below the 100- and 50-dmas yesterday
as a positive signal, with markets shrugging off lower-than-expected durable
goods orders, manufacturing PMI and existing home sales in the process. Bulls
eye the 97.00 handle as the first target ahead of 97.368, the Feb15 high.
-CNH snapped a multi-day winning streak Thursday as MNI reported a Chinese
government advisor as saying that CNY gains should prove "limited even if there
is a positive outcome to trade talks". The news helped USD/CNH improve back
above Cnh6.72.
-AUD carried the weakness from the Asia-Pacific trading day through Europe and
US sessions, prompting markets to eye a close well below both the 50- and
100-dmas.
-German IFO, Canadian retail sales and various Fed speakers are the Friday
highlights.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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