MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

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

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

G10 Ranges Contained Amid US Holiday, AUD Outperforms

FOREX
  • G10 FX traded within very narrow ranges throughout the US session on Monday with U.S. markets closed due to the observance of the Presidents Day holiday. The USD index remains close to unchanged levels approaching Tuesday’s APAC crossover after paring some moderate gains in Asia.
  • AUD remains the strongest performer major at the margins, rising ~0.5%, last printing at $0.6915 having slowly edged above the 0.6900 mark. Firmer Iron Ore and Copper are aiding the Aussie at the margins. AUD/NZD rose to a best level of 1.1088, the highest level for the pair since October last year with the RBA minutes first up on the Tuesday docket.
  • With the focus turning to tomorrow’s Eurozone flash PMI’s, EURUSD found supply above the 1.0700 handle and the pair continues to threaten a sustained break below the 50-day EMA, which intersects today around 1.0680. A clear break of this average would strengthen the bearish cycle and initially expose 1.0484, the Jan 6 low.
  • Another main data point on Tuesday will be the release of January CPI in Canada, where annual headline inflation is expected to dip to 6.1% Y/y. USDCAD looks set to snap a four day winning streak, however medium term parameters appear well established at 1.3705, the bull trigger and 1.3262, the 2023 lows.
  • German ZEW sentiment data and US PMI’s are also scheduled on Tuesday before the FOMC minutes release the following day.
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.