MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

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

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

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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

Bullish Extension Through $1.3759

GBP
MNI (London)
  • GBP/USD recovery off its pre BOE MPC low of $1.3567(Feb04) managed to break and clear above interim resistance at $1.3740 in NY Monday with Asia taking over the baton to take the rate through the recent highs at $1.3758/59 to a fresh YTD high of $1.3788.
  • BOE MPC's less dovish than expected announcement has provided the GBP with a fresh upside impetus, leaving the pound in a good position to take advantage of the generally weaker USD(market reacting to reflation discussions with focus on fiscal stimulus headlines).
  • Support $1.3760/55, $1.3737/36 (Int.Day low/23.6% $1.3567-1.3788), $1.3720, $1.3700. Resistance $1.3788 (Int.Day high, rising trend resistance off Jan04 high) ahead of $1.3804(see MNI Techs below) then $1.3825.
  • A light data calendar in the UK Tuesday.
  • MNI Techs: GBPUSD is firmer and has traded higher today breaching recent resistance at 1.3759, Jan 27 high. The break higher confirms a resumption of the underlying uptrend that has been in place since the early March 2020 reversal. The focus is on 1.3804 next, Apr 30, 2020 high. On the downside, firm support lies at 1.3567, Feb 4 low. A break is required to dent the current bullish theme.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets

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.