Free Trial

-After rallying for much of the week,.........>

FOREX
FOREX: -After rallying for much of the week, Friday's theme was consolidation,
prompting EUR/USD, GBP/USD, AUD/USD and others to trim the week's gains. GBP was
one of the worst performers as traders shied away from weekend headline risk,
with reports suggesting a divorce deal between the UK and EU could be cinched as
soon as Monday.
-JPY price action was the slight standout, with USD/JPY looking to close Friday
at the lower levels of the week and just below Y112. JPY was one of the
strongest performers Friday despite equities recovering in the US. The USD
managed to recoup a minority of the week's losses Friday, with the USD index
0.2% off the lows but well shy of the best levels on Tuesday.
-Antipodean FX pulled back throughout US trading hours despite AUD/USD touching
the best levels of the week at 0.7140. Commodities took a turn for the worst
following the NY crossover, with metals and energy looking to close lower.
-US retail sales, German and Australian unemployment, UK and Canadian CPI and
minutes from the FOMC and RBA are the calendar highlights next week.

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.