FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

FX SUMMARY

FOREX

USD has given back some of its overnight gains, but a more subdued session for FX.

  • All of the action this morning has been in EU Government bonds, plummeting.
  • EUR has been underpinned, on a combination of a weaker Dollar, and uplifting EU PMI releases, which push yields higher.
  • The EU now also seek to lift travel restriction for travelers that have been vaccinated.
  • Risk on tone, has puts some pressure on JPY
  • The pound leads against the Yen in G10, up half a percent.
  • Initial target here, comes at Thursday high, 152.40.
  • USDJPY tested through 109.64 61.8% retracement of the Mar 31 - Apr 23 sell-off.
  • Further upside traction opens to 109.96 High Apr 9 next.
  • Broader base USD selling has been noted against the EUR, GBP, SEK, AUD, SEK, NOK, CNH. INR, CZK.
  • Looking ahead, Canadian and US Manufacturing PMI are set for release.
  • Fed Powell is the scheduled speaker, but he will be speaking on community development, so unlikely to hear about Monetary Policy.
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.