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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.
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Free AccessA mix of UST yield slippage, Equity market....>
FOREX: A mix of UST yield slippage, Equity market easing and triggered stops
provided a pullback in the USD through the NY session.
- USD/JPY led the move as stops were triggered on break below trend line support
at Y108.50(drawn off YTD low Aug26) taking rate to an extended low of Y108.26.
Move in turn allowed EUR/USD to extend its recovery off earlier lows of $1.0989
to $1.1021, though move encountered headwinds linked to EUR/JPY sales. Traders
note that $1.1000 holds strikes of expiring options for Friday's NY cut for
E1.12bln of EUR puts.
- Cable pushed higher on the back of general USD weakness, with sterling helped
by withdrawl of 2 potential Brexit Party candidates ahead of the 1600GMT
deadline for registration, the key one in marginal Dudley North, which could
provide additional support for the Conservatives at the upcoming Dec12 election.
- EUR/GBP also reflected sterling strength as it ground its way to an extended
low of Gbp0.8545. Risk currencies in general have again enjoyed inflows through
the day though off best levels. Focus remains on US-China trade negotiations, no
news appears to be bad news/risk aversion for markets.
To read the full story
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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.