FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EUR/GBP Falters as Rates in the Driving Seat

GBP
  • GBP/USD's recovery through the NY crossover continues to pick up pace, fully reversing an order-flow driven move lower and then some. Rate is now testing yesterday's highs at 1.2766 - clearance above which opens the 50-dma at 1.2785 for direction.
  • As noted earlier, moves in the currency coincide with underperformance across UK Gilts, despite relatively little in terms of domestic newsflow or data - but that hasn't stopped a steepening of the BoE-dated OIS curve, with the peak rate priced in for the March meeting edging to the best level since mid-July.
  • EUR/GBP weakness possibly more notable, with the cross extending the pullback off August highs and cementing the 100-dma as a key resistance (0.8660 at typing). Prices now comfortably through the late July lows and nearing the bear trigger of 0.8504. A break below here would be the first since Aug'22.
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Homepagemarkets-real-timeBulletMarketsForeign 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.