MESTER: WILL NORMALIZE INTEREST RATES 'AT SOME POINT'

MESTER: MY OWN FORECAST EXPECTS INFLATION TO COME DOWN

MESTER: NEED TO SEE MORE DATA TO BE ASSURED INFLATION ON TRACK

MNI BRIEF: BCB's Campos Neto: 'Not Afraid To Do What's Needed'

MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI: US TSY TICS NET FLOWS IN FEB +$51.6B

US Treasury Auction Calendar

US EIA: CRUDE OIL STOCKS EX SPR +2.74M TO 460.0M APR 12 WK

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Firmer Risk Sentiment Weighs On Greenback

FOREX
  • An extension of Thursday’s late bounce in major equity indices put the US dollar on the backfoot to end the week. The USD index is seen roughly half a percent lower on Friday, however, the index looks set to rise around 1% for the week and post the highest weekly close since October, 2002.
  • Additionally, despite some forecasters now looking for a 100bp fed rate hike, St. Louis Fed President James Bullard and Federal Reserve Governor Christopher Waller have both backed raising rates by 75bp this month. Furthermore, some analysts have noted that today’s fresh data may support this view, likely taking the shine off the USD as well as potential profit taking dynamics before the week’s close.
  • The broad dollar weakness has moderated the pressure on EUR/USD, with the rate back above the parity level that gave way earlier this week and making a push back towards the 1.01 mark.
  • In similar vein, a solid bounce in the likes of Aussie, which had come under initial pressure on Friday, following weaker than expected Chinese growth data. AUD, NZD and CAD all reside over a half percent stronger on the day.
  • Next Monday’s data highlight will be New Zealand CPI, which is expected to have risen to 7.1% Y/y. Markets will also receive inflation data from the UK and Canada next week, before central bank meetings/decisions for both the BOJ and ECB on Thursday.
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.