MNI BRIEF: US October Core PCE YoY Rate Rises To 2.8%

MNI NOV CHICAGO BUSINESS BAROMETER 40.2 VS OCT 41.6

MNI China Daily Summary: Wednesday, November 27

MNI BRIEF: Hungarian Banks Strong, But Risks Remain - NBH

RPT:- MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

US EIA:NAT GAS STORAGE -2 BCF TO 3,967 BCF NOV 22 WK

EZ/UK Bond Supply Calendar: Italy Auction, Finland ORI Thurs

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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: USDJPY Hits Fresh One-Month Low as Greenback Slide Extends

FOREX
EM BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • The USDJPY (-1.59%) selloff paused for breath in the immediate aftermath of the WMR fix, however, weakness then resumed and was exacerbated on a clear break of the 151.00 handle, to print a fresh one-month low at 150.46. Bearish sentiment has picked up after the pair closed below the 20-day EMA for the first time since Oct 01, gathering solid downside momentum as we traded below both the post-election lows and the 50-day EMA.
  • Given how aggressive the move has been, we would highlight 150.19, the 38.2% retracement of the Sep 16 - Nov 15 and 149.09, the Oct 21 low as the next supports.
  • In sympathy, the dollar index is down roughly 1%, trading below 106, with notable gains for the likes of EUR and GBP, despite the weakness for major equity indices.
  • Minor technical levels in both EURUSD (+0.92%) and GBPUSD (+0.95%) are being tested, and resistances here can be found at the 20-day EMAs of 1.0624 and 1.2739 respectively.
  • NZD is the second best performer in G10, owing to the RBNZ statement that implied further cuts into 2025, but not as much as the market had priced pre the meeting. Waning risk sentiment has relatively weighed on the AUD however, prompting a sharp pullback for AUDNZD (-0.87%), which earlier in the week traded to fresh two-year highs.
216 words

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.
  • The USDJPY (-1.59%) selloff paused for breath in the immediate aftermath of the WMR fix, however, weakness then resumed and was exacerbated on a clear break of the 151.00 handle, to print a fresh one-month low at 150.46. Bearish sentiment has picked up after the pair closed below the 20-day EMA for the first time since Oct 01, gathering solid downside momentum as we traded below both the post-election lows and the 50-day EMA.
  • Given how aggressive the move has been, we would highlight 150.19, the 38.2% retracement of the Sep 16 - Nov 15 and 149.09, the Oct 21 low as the next supports.
  • In sympathy, the dollar index is down roughly 1%, trading below 106, with notable gains for the likes of EUR and GBP, despite the weakness for major equity indices.
  • Minor technical levels in both EURUSD (+0.92%) and GBPUSD (+0.95%) are being tested, and resistances here can be found at the 20-day EMAs of 1.0624 and 1.2739 respectively.
  • NZD is the second best performer in G10, owing to the RBNZ statement that implied further cuts into 2025, but not as much as the market had priced pre the meeting. Waning risk sentiment has relatively weighed on the AUD however, prompting a sharp pullback for AUDNZD (-0.87%), which earlier in the week traded to fresh two-year highs.