MNI BRIEF: China March M2 Slows More Than Expected

MNI China Daily Summary: Friday, April 12

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: PBOC Injects Net CNY2 Bln Via OMO Fri; Rates Unchanged

CHINA END-MAR M2 +8.3% Y/Y VS MEDIAN +8.8%; END-FEB +8.7% Y/Y

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Final March Inflation Reading Confirms Softening Core Dynamics

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EUR Sinks as ZEW Points to Lowest Expectations Since GFC

FOREX
  • The greenback makes modest progress early Tuesday, putting the USD Index north of the Monday highs and nearing the August highs of 106.93.
  • EUR trades under pressure against most others, with EUR/USD printing a new intraday low of 1.0125 following another dire read for the German ZEW survey. The expectations component was a particular source of weakness, dropping to -55.3 from -53.8, the lowest level for the index since the Global Financial Crisis. Today's -55.3 read came in just above the -63.0 from Oct'08. A break below 1.0123 for EUR/USD would be fresh August lows, opening 1.0097 as the next support.
  • USD/JPY is making solid gains on the day, breaking back above the Y134 handle for the first time since the US CPI release last week. JPY is weaker against all others in G10 so far Tuesday. CAD/JPY eyes the 50-dma at 104.98 for direction, a break above which could see the cross break out of the tight August range.
  • US building permits data for July cross later today, as well as Canadian and US housing starts and the July Canadian CPI release. Prices are expected to have risen 0.1% on the month, and 7.6% on the year. US industrial production follows a little later in the session. There are no central bank speakers of note.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.