MNI BRIEF: BOE Rate Cut Closer But Still Some Way Off - Pill

MNI China Daily Summary: Tuesday, April 23

RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI BRIEF: Hungary Central Bank Cuts To 7.75% As Expected

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

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

EZ/UK Bond Supply Calendar: UK, GR Synd; DE Auction Wednesday

Tax Revenue Tracking Around E10bln Lower than YTD Forecast (2/2)

Tax Revenue Tracking Around E10bln Lower than YTD Forecast (1/2)

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

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Brexit Headlines Remain in Focus For Direction

CABLE
MNI (London)
  • Cable tracked EUR/USD's stronger recovery Monday, the rate pushed to a high of $1.3025 but struggled to hold above $1.3000.
  • Rate eased in post fix/NY afternoon trade to $1.2937, closing the day at $1.2946.
  • Cable consolidated Monday afternoon's losses, trade through Asia contained by $1.2935-58.
  • Failure to keep in step with EUR/USD's stronger tone allowed EUR/GBP to edge back above its key 10-dma(current Gbp0.9075), which if holds turns outlook bullish, with the top of the 1.0% 10-dma envelope, currently coming through at Gbp0.9166, exposed.
  • Brexit talks continued Monday, Barnier tweeting that the EU remains available to intensify talks this week. UK has acknowledged EU's proposal to intensify talks but said there is no basis to resume talks unless there is a fundamental change in the EU approach.
  • MNI Techs: GBPUSD remains below the Oct 12 high of 1.3083. A break is needed to resume the recent uptrend that would open 1.3000 and 1.3198. A break of 1.3198 required to strengthen a bullish theme. Firm near-term support lies at 1.2846.
  • Brexit negotiations, COVID-spread/measures continue to dictate sterling direction.
  • BOE Vlighe speaks at 1030BST
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
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MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
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