Free Trial

EUR recovers as Italy nears agreement with....>

FOREX: EUR recovers as Italy nears agreement with Brussels
-Reports in Corriere della Sera suggesting Italy's government have made
concessions in order to reach a middle-ground with Brussels in deficit talks
helped alleviate some of the pressure on Italian equities and bonds this
morning, allowing yields to pullback from multi-year highs across the curve.
This helped underpin the EUR from the off, lifting the likes of EUR/JPY back
toward yesterday's highs. The news further pressured the DXY, which trades just
above the 95.115 50-dma.
-GBP/USD recovered back above the $1.30 mark, but is yet to touch yesterday's
highs as the pair appeared oversold yesterday. UK PM May speaks to the
Conservative Party Conference ahead of NY open.
-Antipodean FX suffers, sitting at the bottom of the G10 FX table with AUD/USD
continuing to look technically weak on a daily chart. Rate sits just 75 pips
from the year's $0.7085 lows.
-US ADP Employment Change, ISM non-manufacturing and a litany of Fed speakers
(including Fed President Powell) are the calendar highlights.

To read the full story



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.