Free Trial

G10 crosses were range-bound overnight amid...>

FOREX
FOREX: G10 crosses were range-bound overnight amid an exceptionally light
regional data calendar. News-wise, focus fell on some more Fedspeak (which
didn't provide major surprises) flowing in during the NY/Asia crossover and a
RTRS story stating that the U.S. & Japan may reach a small trade deal by Sep.
- The Antipodeans gained vs. all of their G10 peers at one point. However,
AUD/USD failed to find momentum above its 100-DMA and faded gradually, with the
Aussie joining the Scandies at the bottom of the G10 pile. NZD remained
relatively buoyant.
- GBP posted a minor uptick in early trade as the Times reported that Boris
Johnson is planning to hold a snap general election "while Jeremy Corbyn is
still around." The reaction move has faded since.
- In Asian FX, KRW struggled somewhat ahead of tomorrow's BoK MonPol decision.
Elsewhere, Thai central bank reiterated that it is worried about baht strength.
- Focus today turns to inflation reports from the UK, EZ and Canada, as well as
U.S. housing starts. Fed's George will make a speech, while G7 Finance Ministers
will meet in France.

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.