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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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Free AccessCAD was comfortably the best performer in.....>
FOREX: CAD was comfortably the best performer in G10 FX on Friday, underpinned
by the near 2% rally in WTI futures. The rally in energy re-correlated with CAD,
helping press USD/CAD back toward C$1.29. The CAD bid has continued in early
dealing this week, aided by reports/statements pointing to a NAFTA deal being
"close" (deadline for deal at 00:00 ET), with USD/CAD last C$1.2850.
- The DXY rallied sharply throughout Europe, as Italian political woes &
worsening risk sentiment fuelled risk havens, but much of this reversed ahead of
the NY close leaving the USD mixed & directionless against the rest of G10.
- GBP sat at the bottom of the pile, but off the worst levels of the Friday
session. Final UK Q2 GDP Y/Y growth was revised lower with business investment
in particular taking a hit. GBP/USD managed to rebound off $1.30 ahead of the
close. UK PM May continued to stick to her Brexit line over the weekend.
- Little reaction in AUD & NZD to the weekend's Chinese PMI releases.
- Focus Monday shifts to the NAFTA deadline, BOJ Tankan survey, global PMI data
& speeches from Fed's Bostic, Kashkari & Rosengren, ECB's Villeroy & BoE's
Tenreyro.
To read the full story
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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.