MNI BRIEF: EU Defence Bonds Only One Option To Fund Spend Rise

CANADA JAN RETAILS -0.3% VS FORECAST -0.4%, PRIOR +0.9%

MNI: Canada Feb Retails Rise After Jan Sees First Fall In 5M

MNI EM China Daily Summary: Friday, March 22

MNI China Press Digest Mar 22: Autos, Local Gov, Real-Estate

MNI: PBOC Drains Net CNY11 Bln Via OMO Fri; Rates Unchanged

EZ/UK T-Bill Calendar: Germany, France Auction Monday

MNI: BELGIUM MAR BNB BUSINESS SURVEY -10.4

Ex-Energy Import Price Deflation Continues

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Early Focus on UK Retail Sales

CABLE
MNI (London)

Recovery off Thursday's corrective pullback low of $1.3065 picked up momentum through the 1600BST fix, momentum lifting it back
above $1.3200, then breaking the 76.4% retrace level at $1.3219(76.4% $1.3267-1.3065) to a high of $1.3224 ahead of the close(close $1.3214). Move also saw EUR/GBP break back below its support at Gbp0.9000, extending the move to challenge its support at Gbp0.8970. Asia took over the baton of USD sales, edged cable on to $1.3251 ahead of the European open, where it encountered some profit take headwinds, though pullback so far remains very shallow. EUR/GBP is currently probing below Gbp0.8970. Early focus on UK Retail Sales(median ex-auto 0.2%mm, 1.5%yy) and Public Borrowing data. Flash PMI's due today, UK data at 0930BST with focus on Svcs(median 57.0).
Support seen back at $1.3210/00, $1.3185/80, $1.3150. Resistance $1.3251, $1.3267 ahead of $1.3280/85, with the $1.3300-15 key resistance area moving into view.

MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign 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.