MNI: PBOC Net Injects CNY224.4 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1283 Tues; +2.68% Y/Y

CHINA PBOC CONDUCTS CNY382.8 BLN VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1283 TUES VS 7.1307

MNI BRIEF: Carney-Higher Structural Price Pressures Globally

MNI China Daily Summary: Monday, October 28

MNI: UK OCT BRC SHOP PRICES +0.1% M/M, -0.8% Y/Y

MNI JAPAN SEPT UNEMPLOYMENT RATE FALLS TO 2.4% FROM AUG 2.5%

EZ/UK Bond Supply Calendar: Slov Synd; UK, DE Due Tuesday

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

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

Equity Bounce Works Against Greenback & Haven FX

FOREX
  • Currency markets were the follower rather than the leader Friday, with the sharp bounce off the week's lows in equity markets helping fuel cross-asset risk sentiment. This resulted in the e-mini S&P topping out at new alltime highs as traders watch incoming earnings reports due next week.
  • Global equity strength worked against the greenback, with the USD index off around 0.5% from the week's highs. Haven currencies also partially reversed the week's strength, with USD/JPY back above Y110 and EUR/CHF back above 1.0850. The conviction behind these recoveries could be key going forward, as market focus shifts to the US CPI report on Wednesday.
  • The recovery rally in GBP/USD looked relatively one-way until the WMR fix, which saw the pair come under sharp selling pressure, with close to £700mln notional in futures contracts changing hands inside 5 minutes. The heavy volume knocked the rate off 1.3877 to trade either side of 1.3850.
  • US, UK and German inflation data takes focus in the coming week, as well as the beginning of Q3 US earnings season and a raft of Chinese GDP, retail sales and industrial production data. Rates decisions from the Canadian, Turkish, Japanese and South Korean central banks also cross.
Energy BulletsCommodities
Energy BulletsCommodities

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.