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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
MNI ASIA MARKETS ANALYSIS: Tsys Reverse Early Data Driven Gain
MNI US Inflation Insight: Softer Housing Helps Ensure Dec Cut
EUR/USD Inches to New Daily Lows, In Close Proximity to Sizeable Strike
- EUR/USD inches to new daily lows in a slow grind lower, edging through the post-Spain CPI lows of 1.0977. Today's reversal off highs is - at present - no risk to the broader uptrend after yesterday's break and show above 1.10. The Waller-inspired rally helped trigger a fifth session of higher highs overnight, and today's move lower is likely corrective in nature. This has kept the RSI from erring into overbought territory.
- Spot now trades in close proximity to the largest expiries rolling off at the Wednesday cut, with $1.4bln maturing at 1.0970-75.
- We note higher-than-average volumes across bond markets today, and it's the same case in currencies as EUR futures volumes sit around 50% ahead of average for this time of day - thanks to a sharp spike in activity that coincided with the soft Spanish CPI print.
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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.