MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

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

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

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

EUR/USD Firm on Risk, Month-End Outlook

EUR
MNI (London)
  • A push higher in UST yields into Wednesday's NY session, which along with suggested US corporate USD demand month-end value, saw EUR/USD drop back to $1.2109 before recovering (as UST yields eased and equities recovered) through the 1600GMT fix to retest earlier highs of $1.2175 into the close.
  • UST yields pushed higher in early Asia and saw EUR/USD pressed back to $1.2156, the move also helped by USD/JPY demand for Goto-bi day. As UST yields eased so EUR/USD picked up fresh demand, risk outlook aided by equity performance, taking rate through the area of recent highs at $1.2175/80 to $1.2183.
  • Germany GfK 0700GMT, ECB M3 0900GMT ahead of EZ Confidence data at 1000GMT. ECB Lane speaks at 1045GMT.
  • US GDP, PCE, Jobless Claims, Durable Goods 1330GMT, Pending Home Sales 1500GMT.
  • ECB Guindos and de Cos speak at 1500GMT.
  • Fed speakers include Bostic(hawk)1330GMT, Bullard(non-voter, dove) 1530GMT, Quarles1610GMT, Williams(dove) 2000GMT.
  • UST yields, Fed speak and US fiscal stimulus headlines remain key. Month-end Friday with suggested USD sales to be seen at fixes.
  • Support $1.2156, $1.2135/25 ahead of $1.2110/00. Resistance $1.2183, stronger into $1.2190/1.2200($1.2190 Jan22 high/$1.2197 61.8% $1.2349-1.1952). Break to expose $1.2220/30, ahead of $1.2250/60($1.2255 76.4%).
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.