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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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Free AccessEUR/USD: US Election Results/Outcome Betting in the Driving Seat.
- Volatile swings in Asia as market took its lead from US election betting forecasts.
- Early outlook favoured Biden and prompted pressure on the USD, EUR/USD pushed up to $1.1770.
- As results began to come through it suggested election was a closer call and betting switched to favouring Trump.
- USD pared early losses, EUR/USD dropped to $1.1603.
- Biden still seen able to claim victory saw rate recover to $1.1682 then settled into Europe around $1.1650.
- Expect further volatility as race comes down to the wire. Biden remains favoured but the Senate looks to remain Republican. The House remains Democrat.
- Support remains into $1.1600, Asian traders suggest a break of $1.1590 could prompt a decent squeeze. Resistance $1.1680/1.1700, $1.1740, $1.1770.
- MNI Techs: Technical signals continue to highlight a bearish backdrop and today's low print of 1.1603 highlights an extension of the recent down leg, clear break of 1.1612 to signal potential for weakness towards 1.1576 next, a Fibonacci projection. On the upside, today's initial resistance is at the overnight high of 1.1770.
To read the full story
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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.