Free Trial

FX SUMMARY- USD better offered

FOREX

A more subdued session in FX and across assets as we close out the week.

  • The Dollar trades in the red against all G10s on "risk on" as most Fed speakers suggest that Inflation will be temporary, and some move forward on US infrastructure plan.
  • The Pound is the only currency down since the BoE yesterday.
  • The Kiwi leads gains, up 0.21% versus the USD, while the GBP trades at -0.09%.
  • EUR is also mixed and widely range bound, and also leading against the GBP, up 0.19%.
  • EURGBP has again tested trendline circa 0.8592, traded 0.85944 high.
  • Some market participants will look at 0.8602 June 21st high next.
  • But initial upside target is still at 0.8624, the 100d MA, not broken since 11th January.
  • USD tested session low versus JPY, EUR, CNY, CAD, AUD, SEK, NOK, PHP, SGD, but well within past ranges.
  • Looking ahead, focus will turn the US PCE deflator, US Personal spending/income, and final Michigan.
  • Speakers, include ECB de Cos, US Fed Kashkari, Mester, Rosengren and Williams.

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.