MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

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

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

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

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 Off Overnight Lows on Better Manufacturing Data

FOREX
  • Following an unimpressive open for the EUR, the single currency picked up some steam on the release of better-than-expected Eurozone PMI data, with strong activity seen across manufacturing in particular. This prompted a minor spell in strength for the currency up toward 1.1650 before fading.
  • UK data has been more mixed, with stronger PMI numbers countered by a poor set of retail sales data, which is keeping GBP toward the bottom-end of the G10 table.
  • The greenback trades poorly with the USD index now just above the week's lows of 93.496. Weakness through here would open losses back toward the 50-dma at 93.2894.
  • Antipodean currencies are resuming the strength seen earlier in the week, with AUD, NZD trading well alongside commodities. This keeps AUD/USD within range of key resistance at the 0.7564 200-dma.
  • Canada's August retail sales release takes focus going forward, with prelim October US PMI data also due. Fed's Daly is due to speak later today, as well as the Fed Chair Powell who appears alongside the SARB governor Kganyago on a BIS panel.
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.