CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

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

DXY Swiftly Reverses Course As Yields Weigh, AUD Underperforms

USD
  • With the aforementioned decline in US yields to session lows amid a confluence of headlines on US regional bank concerns, the greenback is notably weaker, with the USD index slipping into negative territory on the day and eating into the post Fed presser advance.
  • Sensitivity to core rates continues to feed through to USDJPY volatility, with the pair briefly making a new marginal low to the post-fed print of 146.01 on Wednesday. Very brief dealing below 146.00 has been followed by a 20-pip bounce in recent minutes.
  • Moving average studies have recently crossed and are in a bull-mode set-up for USDJPY, reinforcing the current bullish trend condition. Key short-term support has been defined at 144.36, the Jan 12 low. A break would signal a top.
  • Elsewhere, the EURUSD is also rising 0.35% to 1.0850, however, the trepidation in equity markets is causing the Australian dollar to underperform, remaining 0.10% lower against the dollar despite the broad greenback weakness.
  • From a trend perspective, a bearish theme in AUDUSD continues to dominate and the latest pause appears to be a flag formation - a bearish continuation pattern. A resumption of weakness would open 0.6500, a Fibonacci retracement and the next objective.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets
EM BulletHomepageBulletMarketsEmerging Market NewsForeign 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.