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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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Free AccessMNI US OPEN - Soft NFP Report Should Cement December Cut
MNI China Daily Summary: Friday, December 6
USD Index Eyeing Fresh Highs
The USD remains on the front foot. Much of the morning's focus has been on USD/JPY, which spiked above 143.50. We are back to 143.30 now, but the market is likely to be on intervention watch over coming sessions given the levels in this pair and the pace of yen depreciation. USD strength is broadening elsewhere as well now. Higher US yields (2yr edging up to 3.51%) and lower US equity futures (-0.6-0.7%), are helping from a cross-asset standpoint.
- EUR/USD is back sub 0.9900, while GBP/USD is back to 1.1480 (through overnight lows).
- AUD and NZD are both down 0.3% from NY closing levels. AUD/USD is at 0.6715, NZD/USD at 0.6020. Both pairs are also comfortably through overnight lows.
- Note we haven't seen any headlines from RBNZ speeches so far, with Deputy Governor Hawkesby and Chief Economist Conway speaking at domestic events in NZ. The RBNZ states there will be no published speaking notes for these events.
- In the Asian space, USD/CNH is above 6.9800, around overnight highs, while USD/KRW is above 1384, fresh cyclical highs for this pair.
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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.