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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 AccessMNI BRIEF: RBA Details Hypothetical Monetary Policy Paths
MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday
Dollar Trades Cautiously Ahead of Jackson Hole
The greenback initially traded well in early NY before prices reversed entirely shortly following the US equity open. This helped buoy most major pairs and most notably GBP. This made GBP one of the strongest performers into the close, despite trading weaker throughout European hours. This narrow's GBP/USD's gap with the bull trigger atthe Aug19 high of 1.3267. A break here opens 2020 highs printed on Jan 1st at 1.3278.
NZD was the best performer Wednesday, with NZD/USD looking to make a more convincing break of the 50-dma at 0.6560, but there are few signs of a full bullish breakout just yet.
Equities traded very strongly, with US markets topping out at another all-time high. The tech sector again traded well, leading the NASDAQ to outperform the other major indices.
Powell's speech at the Jackson Hole policy conference takes centre stage Thursday, with the Fed Chair to deliver his remarks at 1410BST/0910ET. Markets will be watching for any clues on the Fed's policy framework review, which is expected to include a tweak to the Fed's inflation targeting methods.
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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.