Free Trial

Broader risk aversion in the FX space has.....>

FOREX
FOREX: Broader risk aversion in the FX space has built through the Asia-Pacific
session as U.S. equity index futures fell sharply on the back of an earlier
story re: a Huawei executive being detained in Canada owing to breaches of
Iranian sanctions, with the U.S. seeking her extradition. 
- USD/JPY moved back below the Y113.00 level, initial support noted at the cloud
top at Y112.67, followed by the yesterday's low/Nov 21 low at Y112.65 and the
Nov 20 low at Y112.31. The Nikkei 225 trades ~1.6% lower last. 
- AUD underperforms other G10 currencies amid the souring risk appetite. Little
reaction noted on release of local data. AUD/USD bears eye the Nov 28 lows of
$0.7221 ahead of the cloud top/Nov 27 low at $0.7201/$0.7199. NZD/USD bears are
focusing on the 200-DMA at $0.6859 followed by the Jun 26 low at $0.6847 and the
21-DMA at $0.6825. 
- CAD is also pressured by the risk aversion after falling afoul of the BoC's
dovish hold yesterday.

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.