RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: SNB CUTS KEY POLICY RATE BY 50 BPS TO 0.5%

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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: EZ Core CPI Underpins EUR Recovery into NY Hours

FOREX
  • The single currency trades slightly firmer, with EUR/USD touching new daily highs on the back of the firmer-than-expected May CPI estimate from the Eurozone. Headline CPI was 0.1ppts ahead of consensus, but it's the 0.2ppts beat for core CPI that will have troubled markets.
  • JPY trades poorly, falling against all others in G10 as markets await the formal release from the Japanese finance ministry to confirm the extent of intervention across May. Expectations are for ~$60bln (Y9.4trl) to have been sold across two phases this month. Headlines cross at 1100BST/1900 local time.
  • Chinese macro data overnight came in soft, with official manufacturing and non-manufacturing PMIs falling short of expectations - manufacturing was a particular source of weakness (49.5 vs. Exp. 40.5) and unexpectedly fell into contraction territory - a release that's worked against CNH, which trades softer against the greenback. 
  • Focus ahead turns to the MNI Chicago PMI release for May, at which markets expect headline weakness to abate slightly, with a 41.5 reading from 37.9 previously. PCE data for April is also set to cross, at which markets expect another moderation in price pressures in the final reading before the June FOMC decision.
BulletFixed 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.