MNI: US Dec Consumer Inflation Expectations Mixed -NY Fed

MNI BRIEF: BOC Releasing Pandemic Actions Review Jan 17

BANK OF CANADA RELEASING PANDEMIC REVIEW REPORT ON JAN 17

MNI China Daily Summary: Monday, January 13

MNI BRIEF: China December Vehicle Sales Up 10.5%

MNI BRIEF: PBOC To Add Forex Reserves Allocation In HK - Pan

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, Greece Syndications

MNI BRIEF: China 2024 Exports Grow 5.9% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FOREX: EUR Sinks as German Regions Point to Disappointing National Print

FOREX
  • The single currency is softer early Thursday as regional German CPIs followed Spanish inflation data in disappointing to the downside, suggesting the national German inflation print later today will come in below forecast. EUR/USD trades below $1.11 as a result, and EURGBP has also fallen 0.3% on the day. A negative close in the cross today would extend the losing streak to seven sessions, with the cross revisiting the lows seen across July below the 0.8400 mark. The extension down reinforces the bearish significance of the recent break of the 50-day EMA. Furthermore, the cross has cleared all key retracement points of the rally between Jul 17 - Aug 8.
  • CHF similarly trades poorly, partially unwinding a small part of the recent strength and allowing for a bounce off the multi-month low printed in USD/CHF earlier this week. Speculation around SNB involvement and persistent bullish options positioning in the CHF has helped trigger and oversold condition in USD/CHF in recent weeks, which is modestly reversing into the Thursday NY crossover.
  • NZD trades well, dragging AUD with it, and helping NZD/USD press 0.63. A clearance above the handle would be the first since January - with the more solid commodities backdrop (iron ore, gold and silver higher) and bounce off lows for equities adding to the theme.
  • A raft of US data crosses later today,  with the secondary reading of Q2 US GDP due alongside initial jobless claims data for the latest week, and July retail inventories. Pending home sales are set to follow. ECB's Lane and Nagel are set to speak as well as another appearance from Fed's Bostic, who spoke late yesterday.
BulletMarketsFixed Income BulletsForeign Exchange Bullets

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.