Free Trial

Broad base selling going through

USD
  • The Dollar remains on the back foot, despite showing flat against the CAD, EUR, CHF, AUD, SEK and NZD overnight, the Dollar falls lower on the European cash Govie open, with buying orders going through in Equities.
  • Expect some potential Gamma volatility in Equites today,
  • USD is now in the red against all G10, besides the Yen, which is down another 0.27%, as BoJ stays (as expected) unchanged and US Yields are elevated.
  • Resistance in EURUSD is at 1.0986 61.8% retracement of the Apr 26 - May 31 downleg.
  • Cable has cleared the 1.2800 psychological level and now eye 1.2849 0.618 proj of the Mar 8 - May 10 - May 25 price swing.
  • AUDUSD test the 0.6900 handle, ahead of 0.6921 High Feb 20.

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.