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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessCable Buoyant, But Needs Break of $1.32 to Boost Upside Potential.
- Opens Europe with an underlying buoyant tone, GBP/USD applying pressure on $1.3200 at writing.
- Biden Bounce has provided a general risk on tone via global stock markets, in turn placing pressure on the USD.
- Asian traders have suggested that a break of $1.3200 could attract stronger demand to emerge.
- EUR/GBP currently hugging its key 10-dma(current Gbp0.9017) awaiting directional impetus.
- Sterling buoyant despite PM Johnson comments on current Brexit trade negotiations. However, with Biden as president-elect suggestions are that the UK's stance might be softened as we head toward the Nov15 deadline(Biden concern noted on the Irish border).
- Internal Markets Bill returns to the Lords today, vote expected early afternoon, Johnson facing a heavy defeat.
- EU Barnier resumes talks with UK Frost today, headlines to be watched,.
- MNI Techs: Cable above former key resistance at 1.3177, Oct 21 and Nov 6 high. Break above this level signals scope for further gains with attention turning to 1.3292 next, 76.4% of the Sep 1 - 23 sell-off. Initial support lies at Friday's 1.3093 low.
To read the full story
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Please enter your details below.
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.