MNI BRIEF: China-Based UK Firms Facing Challenges

MNI: PBOC Net Drains CNY248 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1996 Tue; -1.92% Y/Y

MNI NBP WATCH: Another Policy Hold, Dovish Communications Tilt

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

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI:AUSTRALIA Q3 CURR ACCT BALANCE -14149M

MNI: UK BRC NOV BY VALUE SHOP SALES LFL -3.4% YY, TOTAL -3.3% YY

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

EUR Inside Shallow Corrective Pullback, Bias Remains Higher

FOREX
  • JPY trades firmer, gaining against all others in G10 after a spell of interest in early Asia-Pac hours. EUR/JPY's pullback, however, has been shallow as the single currency undergoes a shallow corrective pullback. For now, EUR/USD remains in a broader uptrend, with Thursday's 1.0929 print highlighting the upside bias. Key short-term support levels remain intact and note that moving average studies continue to highlight positive market sentiment. The next objective is 1.0954, the Apr 11 2022 high.
  • At the other end of the table, GBP is softer amid a minor pullback in rate hike expectations for the front-end of the UK curve. GBP/USD remains above yesterday's lows of 1.2345, a break below which opens 1.2264/59 the Jan 24 Low and the 20-day EMA respectively.
  • A softer SEK puts NOK/SEK closer to the week's best levels, but the cross is running into congestion at 1.0451 - 55. The moves follow a higher than expected Swedish unemployment rate for December, which ticked higher to 7.5% from 7.2% previously.
  • Focus Friday rests on US personal income/spending data as well as the December PCE release. Pending home sales and final Michigan sentiment data round off the week.
  • The central bank speaker slate is light, with ECB's Villeroy the sole speaker - although he's expected to comment on climate rather than monetary policy.
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.