MNI: US TSY: LOWERS Q3 BORROWING ESTIMATE BY $106B TO $740B

MNI BRIEF: US Treasury Lowers Q3 Borrowing Estimate By $106B

MNI BRIEF: New Powers For UK Fiscal Body As Spending Overshot

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

EZ/UK T-Bill Calendar: Belgium Nov 7, 2024 Short TC Due Tuesday

EZ/UK Bond Supply Calendar: Italy, UK Auction on Tuesday

BoE Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

EUR/USD Ekes Out a Fresh Cycle High in Late Asia

FOREX
  • The single currency fares better early Friday, creeping higher against most others in G10 - although market moves are more muted relative to Thursday trade. EUR/USD has printed a fresh weekly high at 1.1076 in late Asia hours, which remains the high watermark headed through to the NY crossover.
  • GBP/USD traded well before meeting selling pressure across early Europe. Moves were order flow driven rather than headline driven, with futures markets showing evidence of sizeable selling helping push prices back to handle support of 1.2500.
  • AUD is at the bottom of the G10 pile, partially reversing the solid rally posted during the Thursday session. 0.6755 Fib retracement provides first weak support ahead of the 50-, 200-dmas of 0.6749 and 0.6744 respectively. Note that the DMAs are on the cusp of printing a death cross (50-dma < 200-dma) for the first time since May 2022 - a bearish technical signal.
  • Data highlights Friday include import/export price indices for March, as well as the monthly retail sales report. Consensus looks for retail sales to have dropped 0.4% - a similar pace to February - with the ex-auto and gas component seen particularly weak.
  • Prelim University of Michigan Sentiment rounds off the week, which is expected to show further stickiness in inflation expectations last month. Fed's Goolsbee and Waller are the highlights of the speaker slate.
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.