MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EUR/USD Leaning Lower Pre-Payrolls

FOREX
  • EUR trades weaker early Friday, with EUR/USD pressing to new weekly lows of 1.1807. A break below the handle would mark a resumption of the downtrend after the corrective bounce at the tail-end of July. Below 1.18, markets may find some support at 1.1789 ahead of the key level at 1.1752 - the Jul 21 low and bear trigger. Decent option interest could draw focus into the NY cut, with over $1bln notional rolling off at 1.18 today.
  • The greenback is mildly stronger, helping the USD Index climb to the best levels since Jul28. This is working against the likes of gold and silver, which both sit lower ahead of NY hours, but a further stabilisation and bounce in oil prices is supporting CAD. EUR/CAD sits on 50-dma support at 1.4769.
  • Payrolls for July take focus going forward, with analysts expecting job gains of around 850k, in line with the June report. The whisper number is a touch above consensus at 884k, which may suggest a positive lean headed into the figure.
  • The Canadian jobs data also crosses, with markets expecting a further decline in the unemployment rate, seen hitting 7.4% from 7.8% previously. There are no central bank speakers of note.
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.