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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 AccessChinese FX outperforms again on trade deal....>
FOREX: Chinese FX outperforms again on trade deal hopes
-After being one of the strongest currencies globally Tuesday, CNH added to
recent gain, prompting USD/CNH to trade with a 6.70 handle for the first time
since Feb1. The year's lows of Cnh6.7026 are now within sight, which marked the
lowest USD/CNH rate since mid-July. The moves follow yesterday's reports that
the US could insist on a 'stable Yuan' policy as part of any trade deal.
Nonetheless, MNI reports warned that any CNY pledge is likely to be "vague",
according to Chinese policy advisors.
-In G10 FX, GBP trade well once more, with GBP/USD hitting a new weekly high as
a Spanish minister stated that a Brexit accord is being "hammered out" - helping
raise expectations of concessions for Theresa May's proposed deal. GBP bulls set
sights on the 2019 highs at $1.3217 for direction.
-Oil-tied FX had a mixed session, with CAD firmer, however NOK fell as markets
snapped several strong sessions since Monday.
-Australian jobs numbers, global PMI data and regional German CPIs are up
Thursday alongside speeches from Fed's Bostic, BoC's Poloz and ECB's Praet.
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.