MNI China Daily Summary: Friday, November 22

UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

EUROZONE NOV FLASH MANUF PMI 45.2 (FCST: 46.0); OCT 46.0

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

MNI: GERMANY Q3 FINAL GDP 0.1% Q/Q (VS FCST 0.2%)

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

EUR/USD Buoyant Ahead of Flash PMI's

EUR
MNI (London)
  • EUR/USD met decent support Friday at $1.1850, as rate eased lower in a mild risk averse session, closing the week at $1.1857.
  • Rate touched a low of $1.1851 in early, Tokyo holiday, thinned trade before it recovered through the balance of the session to retest Friday's NY high of $1.1878, touching $1.1879 before backing away into Europe.
  • A break of $1.1880 to expose the area of recent highs between $1.1891/94. Through here and $1.1900($1.1901 falling resistance off Sep1, 2020 high of $1.2011) expected to provide some resistance ahead of Nov9 high of $1.1920. Support remains into $1.1850.
  • EZ flash PMI's provide morning interest, France 0815GMT, Germany 0830GMT, EZ 0900GMT. ECB Schnabel speaks at 1310GMT.
  • US Chicago Fed Nat Activity 1330GMT, flash PMI's at 1445GMT.
  • Fed speakers non voters Daly(1900GMT) and Evans(2000GMT)
  • MNI Techs: EURUSD continues to consolidate though a bullish outlook remains intact. Move lower between Nov 9 - 11 is considered a correction and a bullish theme has been reinforced by the recent breach of 1.1881, Oct 21 high. The break higher opens this year's high print of 1.2011 on Sep 1 with the immediate bull trigger at 1.1920, Nov 9 high. On the downside, initial firm support to watch is at 1.1746, Nov 11 low.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets

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.