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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI EUROPEAN MARKETS ANALYSIS: China Equities Lower Post CEWC
MNI EUROPEAN OPEN: Sharp Fall In China Bond Yields Continues
MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths
GBP feels more pain after soft GDP data,......>
FOREX: GBP feels more pain after soft GDP data, USD holds firm
- Gbp/Usd traded back under $1.3900 in early Europe and held heavy ahead of UK
GDP. The much weaker-than-expected release (0.1% q/q vs median 0.3%) triggered
fresh supply to extended pullback lows of $1.3802, before dip buyers cushioned
falls. The April seasonality of gains is seriously under threat with near 600
pip losses off the Apr17 high. MNI Pinch now prices in a May hike at 28%.
- The stronger USD theme continued with sharp gains led by the DXY to 3-month
highs of 91.90, the 200-dma provides key resistance at 91.99. Usd/Jpy touched
highs of Y109.49, before strong supply ahead of the Y109.50 barrier countered.
Eur/Usd failed to hold $1.2100 and slipped to 3-month lows of $1.2065. Eur/Jpy
moved through the 200-dma to Y131.94.
- Commodity based currency pairs also felt more pain, AUD & NZD continued the
downward trend to $0.7532/$0.7040, whilst CAD challenged C$1.2900.
- SEB changed their Riksbank forecast and now see the first hike likely in
spring 2019, as highlighted by MNI's State of Play analysis email yesterday.
- US GDP and Michigan Sentiment survey the standout data release today.
To read the full story
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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.