Free Trial

Cable deals 20 pips or so higher at...........>

CABLE
CABLE: Cable deals 20 pips or so higher at $1.2737, with the USD edging lower in
early Asia-Pacific trade, The comes after the rate shed 60 pips on Tuesday,
edging steadily lower on the day.
- Tuesday saw MPs inflict another Brexit defeat on the gov't as the Commons
backed measures designed to stifle preparations for a no-deal Brexit, with a
focus on funding. Elsewhere, the Independent reported that "at cabinet the Prime
Minister acknowledged defeat could be on the cards next week (re: the meaningful
vote), telling ministers she would "move quickly" to make a statement if her
plans fall."
- From a technical perspective, cable failed to clear $1.28 with the subsequent
reversal extending back under the 50-DMA. Bears look for a downside break of
$1.2600. The $1.2800 level remains a stumbling block for bulls.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.