MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

RBA SAYS SOME UPSIDE INFLATION RISKS HAVE EASED.

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

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: Risk Fades as Markets Adopt Defensive Stance

FOREX
  • Currency markets have adopted a vague risk-off tone early Monday, despite a distinct lack of major external developments or datapoints. The greenback is firmer alongside the JPY, while the EUR and - in particular - GBP are trading poorly.
  • The resultant downleg in GBP extended through 1.2850 support as well as the more notable 50% retracement of the July upleg at 1.2830. The move initially triggered by the USD buying phase and the modest risk-off evident in equity futures, but GBP is now underperforming against all others in G10 - with demand for EUR/GBP putting the cross just a few pips below the 50-dma of 0.8461. Clearance here would be the first since early May.
  • Despite the fade off the best levels in equity index futures, Wall Street is set for a positive cash open later today, building on the strong close Friday. JPY is the firmest currency in G10, as the short-covering tailwind persists. 
  • Focus for the rest of Monday trade turns to the public finances statement from UK Chancellor Reeves, supposedly set for around 1530BST/1030ET, at which she's expected to lay out the detail of the "blackholes" in government finances and her plans to fix them across the coming parliament. Reports suggest she is to clamp down on infrastructure and government spending, while potentially raising some selected taxes on pension contributions or capital gains.
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.