MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FOREX: Greenback Little Changed Following NFP, Moderate GBPUSD Strength Persists

FOREX
  • The greenback whipsawed in the aftermath of the US employment data on Friday, showed a small beat for NFP growth, but heavy 111k downward revisions to the two previous months. A very small upward revision to the unemployment rate leaves the USD index marginally in the red as we approach the close.
  • USDJPY was the most volatile, briefly trading down to 160.35 and capitalising on an earlier yen rebound. However, markets lacked conviction following the US holiday and USDJPY whipped back above 161.00, a level at which the pair has been consolidating ahead of the weekend close.
  • In contrast, EURUSD trade remained very subdued on Friday, keeping just a 38 pip range for the entire session. The mixed data kept fresh positioning in check, potentially exacerbated by the upcoming 2nd round election in France this weekend.
  • UK election results came and went with little market reaction. As expected over the past few weeks and months, the opposition Labour party won a sizeable majority in the Commons, and will form the next government, displacing the Conservatives and ousting the PM Sunak. GBP initially proved relatively unresponsive, however, the firm footing for equity markets has helped GBPUSD rise 0.3% on Friday. This has also helped EURGBP edge further from well touted resistance at 0.8500, a level that held well earlier in the week.
BulletFixed Income BulletsForeign Exchange Bullets
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.