FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Downside Risks Pervade in EUR/USD, Despite Recovery into NY Hours

EUR
  • EUR/USD improves to re-test the overnight high at 1.0890, but clearance here would still leave the pair short of yesterday's best levels (1.0907) as well as the 50-dma resistance of 1.0918. Volumes are faring just below recent averages, with EUR futures ~20% below average for this time of day.
  • As a result, the pair remains closer to recent lows, but did find support earlier this week at 1.0846 - a level that will be watched on any return lower.
  • Today's Michigan data will be carefully eyed for any shift in inflation expectations, (1y is exp. Unchanged at 3.1%, although gas prices fell further over the first half of January) and any upside surprises could press the USD Index back toward YTD highs.
  • Options interest into today's NY cut is tilted lower, with the most sizeable strike at 1.0800 ($2.5bln set to roll off) before a more balanced pipeline over the first half of next week.
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

To read the full story

Close

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.