MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

EUR Corrects Higher on Hot EZ CPI Release

FOREX
  • Eurozone CPI came in well ahead of expectations, with the prelim January release hitting new record highs of 5.1% thanks to a particularly hot Italian inflation release (topping forecast by 1.3ppts). The EUR rallied to touch fresh session highs against the USD at 1.1305, while Bund futures briefly dipped to new daily lows.
  • EUR/USD now trades just shy of first resistance at the 1.1309 50-dma, with strength following the 3-day morning star reversal pattern printed at the Monday close. Nonetheless, gains for now are considered corrective, with the more medium-term trend view still pointed lower.
  • The greenback sits at the bottom of the G10 pile ahead of the Wednesday crossover, putting the USD Index on the backfoot for a third consecutive session, and through first support at the 96.10 50-dma. Dollar weakness comes alongside a further flattening in the US yield curve, with 10y yields a touch lower pre-NY hours.
  • ADP employment change data takes focus going forward, with markets expecting 184k jobs added - a material slowdown from December's 807k and supporting expectations for Friday's NFP release to come in below the prior month.
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.