Free Trial

Dovish comments from Fed Evans only.....>

MNI (London)
EURO-DOLLAR: Dovish comments from Fed Evans only provided a mild USD sell react,
comments not seen as a major surprise, with rate faltering at $1.1242 before
reversal. Rate has faltered between $1.1240/50 over the last few sessions, the
area holding option strike expiries for today's NY cut which could be the
influence ($1.1240-50 expiries total E2.72bln, E2.15bln of EUR calls). Rate
eased back to $1.1199 into the close. Early consolidation in Asia between
$1.1200-07(did mark a low of $1.1197 in this opening trade), extended topside to
$1.1214 in slow trade. Focus overnight was on the PBOC CNY fix, now seen as the
barometer for risk. USD/CNY fixed above Cny7.00 at Cny7.0039, its highest fix
level since April 2008, but below the forecast level which tempered any reactive
risk trade. 
- Support remains between $1.1200-1.1195 ahead of $1.1180 and $1.1168.
Resistance $1.1240/50.
- France Sentiment at 0630GMT, Spain IP 0700GMT ahead of the EU Economic
Bulletin 0800GMT.
- US Weekly Jobless Claims 1230GMT.   
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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.