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

Rpt-MNI INTERVIEW: Fed Probably Needs Bit More Tightening-Aikman

MNI BRIEF: China's Aug Manufacturing Contracts At 49.7

MNI BRIEF: Time Needed To Change Easy Policy - BOJ's Nakamura

MNI: SWISS JUL RETAIL SALES -2.3% M/M, -2.2% Y/Y

Japan Jul Ind. Output -2.0% M/M; First Drop in 2 Mths

Japan Jul Retail Sales +6.8% Y/Y; 17th Monthly Rise

MNI BRIEF: China Will Look To Belt & Road Amid Trade Tensions

MNI BRIEF: BOC Staff Paper Sees Few Signs Of 'Greedflation'

MNI BRIEF: Canada Raises Bank Capital Buffer On Housing Risk

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
BulletMarketsForeign Exchange News
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange News

To read the full story

Why Subscribe to

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.