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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 AccessMNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks
MNI BRIEF: China Sees Progress On EU EV Deal
First Down Day in Six For EUR/JPY
The pullback from Tuesday's EUR/USD high has extended early Wednesday, with prices slipping comfortably through the 1.21 handle to set sights on the Feb 9 low at 1.2047. A break below here would be a bearish development, and increase focus on Tuesday's candle pattern which resembles a bearish shooting star.
The greenback is among the strongest in G10 so far today, with equities circling the week's lows and consolidating yesterday's (slightly) negative close for the S&P 500. This has buoyed JPY so far Wednesday, which is clawing back recent losses against a number of currencies, most notably EUR.
The front-end of the DM implied vol curve has seen some support, with the equity pullback helping arrest recent declines. 1m AUD/USD implied vols look to have bottomed after printing post-COVID lows earlier this week of just 8.97 points.
Focus for the rest of the sessions switches to data, with US retail sales, PPI and industrial production due. CPI numbers for January from Canada also cross. Central bank speakers include Fed's Barkin & Rosengren, BoE's Ramsden and the FOMC minutes.
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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.