MNI China Daily Summary: Monday, December 23

MNI: China Steel Demand Seen Falling Next Year

MNI: China CFETS Yuan Index Up 0.83% In Week of Dec 20

MNI: PBOC Net Drains CNY643.5 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1870 Mon; -2.26% Y/Y

MNI China Daily Summary: Friday, December 20

MNI: SPAIN Q3 FINAL GDP +0.8% Q/Q

MNI: UK Q3 GDP +0% Q/Q, +0.9% Y/Y

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

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

FOREX: Firmer Equities Aids FX Risk Appetite, But Muted Moves

FOREX
BulletMarketsFixed Income BulletsForeign Exchange Bullets

G10 FX markets have started the holiday impacted week in fairly muted fashion. There has been a slight risk on tone in early trade, but follow through has been very limited for the likes of AUD and NZD. The USD BBDXY index was last little changed near the 1297 level. 

  • AUD/USD has found resistance near 0.6270, which marked highs from late last week (post softer US data outcomes). On the downside, moves sub 0.6250 have been supported, and we last tracked close to this level. This leaves us little changed for the session. The NZD has followed a similar trajectory, last near 0.5650/55, also little changed for the session.
  • USD/JPY has drifted a little higher, last in the 156.50/55 region, not too far from session highs (156.69). Lows for the session were in the first part of trade and at 156.14, above intra-session lows from Friday (just under 156.00).
  • We do have some event risks on the calendar for Japan this week, the mins of the BoJ Oct meeting are out tomorrow, services PPI on Wednesday (Christmas day), along with a Ueda speech. On Friday the Tokyo CPI for Dec prints.
  • EUR/USD is a touch higher, last near 1.0440/45.
  • In the cross asset space, US equity futures are higher, led by the tech side, up nearly 0.60% for the Nasdaq. Regional equity markets are mostly higher, led by the tech side.
  • US yields are close to flat at this stage, retreating from recent highs on Friday post the softer core PCE inflation reading. This is likely helping broader risk appetite in the equity space as week.
  • Looking ahead, we have UK GDP revisions later, along with US durable good orders and building permits. 
283 words

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.

G10 FX markets have started the holiday impacted week in fairly muted fashion. There has been a slight risk on tone in early trade, but follow through has been very limited for the likes of AUD and NZD. The USD BBDXY index was last little changed near the 1297 level. 

  • AUD/USD has found resistance near 0.6270, which marked highs from late last week (post softer US data outcomes). On the downside, moves sub 0.6250 have been supported, and we last tracked close to this level. This leaves us little changed for the session. The NZD has followed a similar trajectory, last near 0.5650/55, also little changed for the session.
  • USD/JPY has drifted a little higher, last in the 156.50/55 region, not too far from session highs (156.69). Lows for the session were in the first part of trade and at 156.14, above intra-session lows from Friday (just under 156.00).
  • We do have some event risks on the calendar for Japan this week, the mins of the BoJ Oct meeting are out tomorrow, services PPI on Wednesday (Christmas day), along with a Ueda speech. On Friday the Tokyo CPI for Dec prints.
  • EUR/USD is a touch higher, last near 1.0440/45.
  • In the cross asset space, US equity futures are higher, led by the tech side, up nearly 0.60% for the Nasdaq. Regional equity markets are mostly higher, led by the tech side.
  • US yields are close to flat at this stage, retreating from recent highs on Friday post the softer core PCE inflation reading. This is likely helping broader risk appetite in the equity space as week.
  • Looking ahead, we have UK GDP revisions later, along with US durable good orders and building permits.