MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

MNI: US March Existing Home Sales Fell 4.3% To 4.19M

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI: FED BALANCE SHEET TOTAL ASSETS -$33B TO $7.406T IN WEEK

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Further Cross/JPY Demand As Equities Inch Higher, Greenback Slips

FOREX
  • With little conviction, risk tied currency pairs continued to edge higher on Tuesday. The Japanese Yen continued its gradual decline and following the late reversal in the greenback, cross/JPY led the way higher.
  • NZDJPY, CADJPY and EURJPY are the notable performers, rising between 0.5-0.8% as the S&P500 index continues to reverse the fed-inspired losses and close in on fresh record highs.
  • The Dollar Index spent much of the session consolidating in positive territory. However, a late bout of selling prompted the index to slip below Monday's lows and continue to unwind the substantial gains following the FOMC statement last week.
  • EUR running higher after the London close, with EUR/USD inching through the overnight highs to trade 1.1940. Modest uptick in futures volumes, with some of the best activity of the day going through on the last lurch higher.
    • Markets now in close proximity to nearest resistance at the 23.6% retracement for the May - Jun downtick. Break above here narrows the gap with the 200-dma at 1.1998.
  • Global Flash Manufacturing and Services PMI's headline the data docket on Wednesday. French and German figures kick off the European releases at 0815/0830 BST with Canadian Retail Sales also on the agenda.
Energy BulletsCommodities
Energy BulletsCommodities

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.