MNI: GERMANY NOV UE RATE (SA) 6.1% (FCST 6.1%); OCT 6.1%

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

MNI: GERMANY OCT RETAIL SALES -1.5% M/M

MNI BRIEF: Trump Tariffs To Push China, EU Cooperation - BOC

MNI: PBOC Net Drains CNY156.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1877 Fri; -1.39% Y/Y

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.5%

MNI: SWISS Q3 GDP +0.4% Q/Q, +2% Y/Y

MNI: SWISS KOF NOV ECONOMIC BAROMETER 101.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

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

EUR/USD Slips After Failed Test of Bear Channel Top

FOREX
  • EUR/USD trades lower headed into the NY crossover, with the pair fading following the challenge of the bear channel top at 0.9998. The dip lower in the pair is primarily USD driven and part of broader market consolidation after the sharp equity rally posted since the beginning of the week.
  • GBP's post-Mini budget bounce is similarly fading, with GBP lower against most others in G10. Markets look to the PM's conference appearance later today (1100BST/0600ET) for direction, with Truss expected to double-down on her government's pro-growth strategy.
  • The moderation in risk sentiment has seen the USD Index decline bottom out, with prices bouncing slightly off the Tuesday low at 110.055. Labour market data may determine the longevity of any bounce, with ADP employment change and ISM Services later today, ahead of NFP on Friday.
  • NZD is the firmest currency in G10 following a hawkish turnout from the RBNZ decision. The bank raised rates by 50bps - as expected - but confirmed the bank also examined a 75bps step to tackle stubborn inflation.
  • Focus turns to US and Canadian trade balance data as well as the final September US stats. ISM services index will also be watched closely for any repetition of the weak employment component posted as part of the manufacturing release on Monday.
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.