MNI BRIEF: BOC Cutting To 3% Next Year, Ex Governor Dodge Says

MNI BRIEF: Output Gap Shut, Wage Growth Too Fast - BOE Greene

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

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 is underpinned

FOREX
  • The EUR is underpinned, whilst the USD is under pressure in early European trade.
  • The USD is taking its cue from the risk on tone, with big rallies in Asia,, after China declared that they will be pro active in supporting overseas share listing.
  • EUR has been underpinned, bid, following latest headlines from Russia Lavrov, noting that some formulations of agreements with Ukraine are close to being agreed.
  • This has contributed to some extensions in Equities and in turn the EUR.
  • Best early performer versus the USD is the SEK, with USDSEK testing lowest level since the 1st March, more a function of the USD's weakness, following the Risk On tone, and a continuation from the Asian session in Equities.
  • Next support area for the USDSEK is at the 28/02 low 9.4301USD is in the red against all G10, besides the JPY (trades flat), with the latter helped by the higher yield.
  • Looking ahead, all of the focus is on the FOMC and presser.
  • On the data front, US Retail sales is the notable release.
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.