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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.
EUR
- EUR facing fresh pressure through the European open, putting EUR/USD further below the 200-dma of 1.0804 (last broken below in Jun'21) and now testing the base of the bull channel drawn off the March lows at 1.0769. A break and close below this mark would be a resolutely bearish development, opening June 12th lows at 1.0733 as well as the March 15 lows of 1.0635 further out.
- Moves follow further caution around the Sept ECB rate decision, with Reuters reporting that momentum for a rate pause is building, according to 8 separate sources. Approximately 8.5bps of tightening remains priced, shedding around 1bps on the story.
- Weakness in spot put prices below the larger strikes set to roll-off at today's cut: $3.1bln set to roll-off between 1.0800-25 today.
EUR/USD testing base of the bull channel
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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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