MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bearish Bias Persists as USD Underpinned by Waller

EUR
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • EUR/USD continues to trade heavy through the European open, pressing through the 1.08 handle and helping keep the USD the firmest performer so far Thursday. Hawkish overtones from Waller continue to pervade, with the greenback moving in sympathy with US yields off the weekly lows.
  • The weight in EUR/USD has been pushed through on generally firm volumes - with notable uptick in activity on the break of the overnight lows, potentially signalling the break of stops to accelerate the move.
  • Price action so far today confirms the bearish theme is still dominant and further USD strength should result in a test of 1.0695, the bear trigger. Weakness to this mark is unlikely today, but next week's CPI Exp survey and the March inflation read could prove instrumental (Our preview here: https://roar-assets-auto.rbl.ms/files/60535/Mar202... )
130 words

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.
  • EUR/USD continues to trade heavy through the European open, pressing through the 1.08 handle and helping keep the USD the firmest performer so far Thursday. Hawkish overtones from Waller continue to pervade, with the greenback moving in sympathy with US yields off the weekly lows.
  • The weight in EUR/USD has been pushed through on generally firm volumes - with notable uptick in activity on the break of the overnight lows, potentially signalling the break of stops to accelerate the move.
  • Price action so far today confirms the bearish theme is still dominant and further USD strength should result in a test of 1.0695, the bear trigger. Weakness to this mark is unlikely today, but next week's CPI Exp survey and the March inflation read could prove instrumental (Our preview here: https://roar-assets-auto.rbl.ms/files/60535/Mar202... )