FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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: Early G10 FX Trends Steady, UD/JPY Bounce Not Sustained

FOREX
BulletMarketsFixed Income BulletsForeign Exchange Bullets

Early Tuesday G10 FX trends are skewed towards USD gains, although aggregate gains are modest at this stage. The BBDXY index is little changed at this stage, last near 1222.5. Recent cycle lows, close to 1221.5, are close by.

  • In early trade we saw a USD/JPY spike up to 141.23, which looked flow related, as there little headlines in the way of macro drivers. We have since settled back in to the 140.50/55 region, which is slightly lower versus end Monday levels in NY.
  • Cross asset wise, sentiment is steady from a US equity futures standpoint, while US yields are up a touch, but less than 1bps at this stage. This follows weaker yield trends in recent sessions as the US FOMC comes into view.
  • NZD/USD is back to 0.6190, off around 0.20%, but still close to recent highs. AUD/USD is slightly lower, last near 0.6745. A weekly consumer sentiment measure for Australia (ANZ Roy Morgan) rose to 84.1, its highest reading in 8 weeks.
  • The data calendar is very quiet today, with just NZ non-resident bond holdings, along with Japan's July tertiary activity index, unlikely to be market movers. 
187 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.

Early Tuesday G10 FX trends are skewed towards USD gains, although aggregate gains are modest at this stage. The BBDXY index is little changed at this stage, last near 1222.5. Recent cycle lows, close to 1221.5, are close by.

  • In early trade we saw a USD/JPY spike up to 141.23, which looked flow related, as there little headlines in the way of macro drivers. We have since settled back in to the 140.50/55 region, which is slightly lower versus end Monday levels in NY.
  • Cross asset wise, sentiment is steady from a US equity futures standpoint, while US yields are up a touch, but less than 1bps at this stage. This follows weaker yield trends in recent sessions as the US FOMC comes into view.
  • NZD/USD is back to 0.6190, off around 0.20%, but still close to recent highs. AUD/USD is slightly lower, last near 0.6745. A weekly consumer sentiment measure for Australia (ANZ Roy Morgan) rose to 84.1, its highest reading in 8 weeks.
  • The data calendar is very quiet today, with just NZ non-resident bond holdings, along with Japan's July tertiary activity index, unlikely to be market movers.