Free Trial
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.
USD
Note that the DXY index closed below uptrend support drawn off its May ’21 lows on Wednesday.
- The DXY topped out in late November and has faltered even against the backdrop of the well-documented hawkish Fed re-pricing.
- This would suggest that positioning and the relative impact that Fed expectations have on broader market expectations re: other central banks may be inhibiting the USD at present.
- On the former, cumulative net USD longs remain elevated (based on CFTC CoT data), sitting at levels not witnessed since late ‘18/early ’19, even with cumulative net USD length pulling back since late November (if we exclude the recent peak).
Fig. 1: USD Index (DXY)
Source: MNI - Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok