NORGES: RATES PROBABLY AT CURRENT LEVEL QUITE SOME TIME

RATES MAY NEED TO BE ON HOLD LONGER THAN ENVISIONED: NORGES

MNI: NORGES BANK LEAVES RATES UNCHANGED AT 4.50%

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI: BAKER HUGHES US RIG COUNT 605; OIL RIGS 499; GAS RIGS 102

BoE Data Watch

RBA Data Watch

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

GBP Bouncing, USD Creeping Lower

FOREX
  • GBP trades well, with the currency recouping recent losses to climb to the top of the G10 leaderboard early Monday. The UK enters the second stage of the lifting of lockdown restrictions Monday, with non-essential retail and outdoor hospitality opening for the first time in months. EUR/GBP eyes the 50-dma as next support at 0.8637, but a break below would extend the reversal of last week's rally.
  • Oil-tied currencies are at the bottom-end of the table, with NOK and CAD softer, but within ranges, while WTI and Brent crude futures hold below first resistance.
  • The USD trades at the day's lows ahead of the NY crossover, edging lower while equities bounce off the overnight lows. The e-mini S&P is in minor negative territory, although well within range of the all time highs posted last week.
  • There are no tier 1 data releases due Monday, with focus remaining on scheduled speeches from Fed's Rosengren, BoE's Tenreyro and ECB's de Cos. The beginning of earnings season remains in view, with large-cap US bank names kicking off reporting tomorrow.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.