Free Trial

Equity Sell-Off Still Hanging Over Markets

FOREX
  • Yesterday's US equity market sell-off is lingering across the continent today, with European markets lower by 1% or more. Currency markets aren't following suit, however, with the JPY the poorest performer so far in G10 (EUR/JPY sits just below yesterday's multi-year high of 132.53) while AUD, EUR hold their ground.
  • EUR/USD trades firmer, with the pair eyeing yesterday's 1.2178 high for direction, with this morning's ZEW survey lending some support. The expectations component hit the highest since January 2000 at 84.4.
  • Scandi currencies are higher early Tuesday, with SEK and NOK among the best performers in G10 so far. This has kept both USD/NOK and USD/SEK well within reach of the 2021 cycle lows, with markets watching 8.1493 and 8.2058 in each respective pair.
  • The data slate is light Monday, with no major releases on the docket. This keeps focus on the central bank speaker slate with a large number of Fed members due. Williams, Brainard, Daly, Bostic, Harker and Kashkari all speak, with Knot and de Cos of the ECB also due.

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.