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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.
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Free AccessFOREX: Havens Outperform as Tech Outages Hinder Global Operations
- The strong USD backdrop so far Friday is persisting into the NY crossover, with the USD Index extending the bounce off yesterday's lows to near 0.7% and narrowing in on the 200-dma of 104.388.
- Flight to safe havens and a broad risk-off theme remains the key driver here, with the spillover effects of the bad patch from Crowdstrike grounding flights globally, impacting exchanges, stopping some electronic payments and interrupting global newsflow.
- Resultingly, the JPY is real outperformer, prompting EUR/JPY to ease off yesterday's highs and re-orient focus on the gravitational influence of the 50-dma at 170.82.
- Risk and growth proxy currencies are among the poorest performers, keeping Scandi currencies weaker against all others in G10. USD/NOK has cleared to new multi-month highs, taking out 10.8699 resistance in the process - the 61.8% retracement for the downleg off the early May high.
- Focus for the duration of Friday trade turns to Canadian retail sales data for May and appearances from Fed's Williams and Bostic.
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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.