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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.
FOREX
- The renewed geopolitical tensions with Western allies preparing for new sanctions have been supporting the ‘safe-haven’ US Dollar.
- While US LT bonds keep testing new lows amid surging inflation risks, demand for the US Dollar has been growing since the start of the month.
- DXY index broke above its key resistance at 99.73 this week (which corresponds to the 76.4% Fibo retracement of the 89.21 – 102.98 range) and is currently testing the psychological 100 level.
- A break above that level would open the door for a move up to 100.5560 ( (May 2020 highs).
- The USD strength has been weighing on EM currencies this month.
- To the exception of PHP and BRL (barely up against USD), all EM FX are down against the greenback.
- HUF has been the worst performing currency among the EM world amid rising political uncertainty following Orban’s victory last week.
Source: Bloomberg/MNI
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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