MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Euro Extends Bounce Off Lows As Dollar Momentum Halted

FOREX
  • EURUSD rose the best part of half a percent on Thursday as broad dollar indices consolidated at lower levels. The single currency strengthened to around 1.1370, edging toward initial resistance at 1.1386, Tuesday's high.
  • NZDUSD matched the Euro's ascent and remains atop the G10 leaderboard. The currency took the lead from 2yr inflation expectation data released overnight, which surged to 2.96% from 2.27% previously - the highest rate since 2011. NZD/USD rallied to narrow the gap with the 50-dma of 0.7056. A break above here would see the short-term outlook improve toward 0.71 and the 200-dma.
  • Elsewhere EURNOK had a notable move higher of around 1.2%. EURNOK finds itself back above 10.00 for the first time since early October. The move came amid news from the central bank that they are halting their krone purchases carried out on behalf of the government for the rest of the month, effective from Nov. 19.
  • In emerging markets, there was continued focus on an extremely volatile Turkish Lira. Liquidity evaporated in USDTRY above 11.00, sparking a rapid acceleration to print fresh all-time highs at 11.3118. This extended the daily range to a massive 8.25%, before the pair consolidated somewhat back towards the 11 handle, currently up 3.3% for Thursday. The days advance strings together 8 consecutive positive sessions, strengthening roughly 17% at its Thursday peak.
  • UK October retail sales kicks off tomorrow's data calendar before ECB's LaGarde is due to deliver opening remarks at the Frankfurt European Banking Congress. Canadian retail sales is the highlight of the US session before Fed's Clarida speaks at 1715GMT/1215ET on global monetary policy coordination.
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.