Free Trial

Cable last trades at $1.3128 operating........>

CABLE
CABLE: Cable last trades at $1.3128 operating within a 17 pip range, having
registered a 25 pip gain on Wednesday, with the rate finishing off of its
session highs of $1.3175. 
- The pair moved higher on the back of positive headlines re: Brexit with UK PM
May having reportedly invited ministers to read a "nearly-there" divorce deal
text. 
- Greenback fared badly against every other G10 currency but yen, as the dust
settled after U.S. Midterm election results, although broader USD demand as
EUR/USD moved to $1.1500 limited the greenback's losses. 
- Bulls need to retake yesterday's highs ahead of targeting a break of $1.3200
to alter the short-term outlook in their favour. Conversely, bears seek a move
through yesterday's lows of $1.3074 towards the 100-DMA at $1.3039. 
- UK highlights this week include GDP, trade bal. & production figures due
Friday.

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.