Free Trial

Cable: Aug17 close $1.2880, Aug18 Asia........>

CABLE
CABLE: Cable: Aug17 close $1.2880, Aug18 Asia range $1.2863-93
*Euro-stg: Aug17 close stg0.9120, Aug18 Asia range stg0.9096-0.9115
*The release of stronger-than-expected UK Retail Sales (driven by food store
sales) lifted cable to $1.2907 on Thursday
*Pullback off the high with added weight from euro-dollar touched $1.2853,
before dip buyers emerged to hold $1.2875/85 ahead of the NY close
*The risk-off theme continued into Asia, early stg-yen supply pressured to
$1.2863 before fading
*Specs started to cover shorts and with added Tokyo-fix related demand, cable
was quick to pare early losses
*Rate tracked the euro-dollar recovery throughout Asia, gains extended to
$1.2893 and holds firm ahead of Europe
*A break of $1.2900 can re-test yesterday's high ($1.2909), hourly resistance
behind through $1.2915/20. Very light on the data front today. Cable last
$1.2892. 

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.