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Why MNI
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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 AccessMNI ASIA OPEN: Focus on November Jobs Ahead Fed Blackout
MNI ASIA MARKETS ANALYSIS: Consolidation Ahead Nov Jobs Report
Dollar Buoyed as Stimulus Hopes Dashed
The dollar was the best performing currency in G10 Thursday, with a sharp pullback in equities (particularly European bourses) adding further pressure to risk assets and adding weight to the likes of AUD, NZD and NOK.
While Trump said on Fox Business he'd go over $1.8trn on stimulus, he added that Pelosi has 'mental problems', leading markets further to believe there is little hope of a near-term stimulus deal.
This led the USD to gain sharply, prompting the USD index to touch levels not seen since Wednesday last week - a move that further pressured equities and led European indices to shed as much as 2.5%. Poorer than forecast weekly initial jobless claims added weight to the move.
Focus Friday turns to US retail sales and the prelim October Uni. of Michigan confidence data. Fed's Bullard and Williams are both due to speak.
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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.