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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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Free AccessAs anticipated in the press earlier, U.S......>
FOREX: As anticipated in the press earlier, U.S. Tsy removed China's "currency
manipulator" status in its latest semi-annual FX report (Switzerland was added
to the watchlist). In combination the imminent signing of the much awaited
phase-one trade deal, the move vs. China lent some support to risk appetite,
albeit this has moderated since. USD/CNH & USD/CNY sank to fresh multi-month
lows, but shrugged off stronger than exp. Chinese trade figures.
- Price action across the G10 FX space was fairly lacklustre. USD/JPY punched
above the psychological Y110.00 level, with further demand emerging into the
Tokyo fix. That psychological barrier had been intact since May.
- In Asian EMFX, USD/TWD & USD/IDR extended losses and still operate at levels
not seen since 2018. USD/PHP plumbed a multi-year low too, as it reopened after
a mkt closure linked to a volcanic eruption. The BoT expressed concern w/THB
strength & said it is ready to rein it in. USD/KRW dropped to its worst levels
since July, before paring the bulk of initial losses.
- U.S. CPI headlines the data docket, central bank speaker list features Fed's
George & Williams, as well as ECB's Mersch, Villeroy & de Cos.
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.