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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.
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FOREX: Mixed Markets, Tight Ranges
- Markets are mixed early Tuesday, with a quiet Asia-Pac session making way for a quieter European morning. Ranges are tight and volatility is muted, putting the USD broadly flat - albeit off the overnight session lows.
- JPY is somewhat softer and is among the poorest performers in G10, however USD/JPY is well short of the best levels of last week, keeping the improvement off lows inside the recent range.
- NOK is a marginal underperformer, softer against all others in G10 as a moderating oil price weighs on commodity-exporters. USD/NOK is back above 10.60 and is bearing in on first major resistance at the 10.6674 50-dma - a break above which opens 10.6993 and the mid-June highs.
- Tuesday is a scant session for data releases, keeping focus on the more consequential US inflation release for June set for Thursday. The central bank speaker slate is busier, however, with Fed's Barr, Powell and Bowman all set to make appearances. Powell presents the semi-annual testimony with an appearance in front of the Senate banking committee at 1500BST/1000ET.
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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.