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Focus Turns to Biden-Putin Call, MNI Chicago PMI

FOREX
  • The USD is clawing back a decent part of the Wednesday losses, with the USD Index rising back above the 96 handle and nearing the week's highs of 96.395. Equities are resuming the recent incline, helping nudge the e-mini S&P back toward the recent alltime highs printed at 4798.00.
  • The dollar's recovery has dragged EUR/USD off the week's highs printed yesterday at 1.1369, with the pair now finding some support at the 1.13 handle ahead of the NY crossover.
  • The poorest performer among G10 is the NOK, which is working against decent strength posted in the currency across the past two weeks. USD/NOK trades just below next resistance of 8.9058.
  • Presidents Biden and Putin hold a call today to discuss the ongoing tensions in eastern Ukraine, with a spokesman yesterday stating Biden will offer Russia a diplomatic solution to avoid further unrest and de-escalate tensions. The call follows the US presenting intelligence to European partners that suggested Putin was building troops on the border and could launch an invasion as soon as early January. The call is scheduled for 1530ET/2030GMT.
  • Focus for today rests on the MNI Chicago PMI due at 1445GMT - with markets expecting the data to improve marginally to 62.0 from 61.8 previously. Weekly jobless claims also cross, with consensus looking for a 206k IJC - in line with the prior reading
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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