Free Trial

-Despite underperforming at the NY............>

FOREX: -Despite underperforming at the NY crossover, EUR rose back toward the
top of the G10 pile Monday during an appearance by ECB President Draghi, who
stated that he sees a "relatively vigorous pick-up in underlying inflation". The
comments saw EUR/USD briefly show above the $1.18 level, keeping the recent
bullish trend intact.
-Nonetheless, EUR failed to outpace GBP, which is the strongest among the majors
today as markets position for significant upcoming GBP/USD flows following the
weekend's $39bln Sky auction, won by US firm Comcast. Despite the bounce Monday,
GBP/USD fails to rally through the 50% retracement of Friday's price action,
lying at $1.3166.
-AUD and NZD failed to recoup the overnight losses, stemming from reports that
US-China trade talks have been kicked into the long grass, with the effect
exacerbated by profit taking after last week's firm rally.
-Attention turns to BoJ minutes, speeches from BoJ's Kuroda, BoE's Vlieghe and
various members of the ECB. Data focus shifts to US Consumer Confidence.

To read the full story



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.