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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI POLITICAL RISK - Trump Targets BRICS w/New Tariff Threat
MNI Gilt Week Ahead: Triple issuance week?
MNI US MARKETS ANALYSIS - French Politics Undermines EUR
MNI US OPEN - Trump Warns BRICS Over Moving Away From USD
A round of horrific official Chinese PMIs.....>
FOREX: A round of horrific official Chinese PMIs from over the weekend has
flicked the risk switch to off at the start to the week. The closely watched
manufacturing registered at a record-low, well shy of expectations, as the
coronavirus epidemic bites. A broad-based flight to safety has allowed USD/JPY
to plumb a new YtD trough at Y107.01.
- High-beta FX lost ground, with the Antipodeans leading losses in the G10
basket. Australia reported its first fatality from Covid-19 and a number of
desks aggressively boosted their RBA & RBNZ easing bets, with IBs now pricing a
~27% chance of a 50bp cut from the RBA tomorrow. NZD/USD fell to its worst level
since Aug 2015 & AUD/USD hovers above its 11-year low touched Friday.
- USD/CNH opened higher but still shy of the CNH7.0 mark. The rate has slightly
eased off since, but remains in the green.
- USD/ZAR showed above Friday's multi-year high & sees its 50-DMA heading
towards the 100- & 200-DMAs. USD/MXN tested the MXN20.00 level to the topside as
U.S. Pres Trump said he will consider tightening controls on the Mexican border
after Mexico declared its first coronavirus case.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.