MNI: PBOC Net Injects CNY184.8 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1136 Tues; +3.19% Y/Y

CHINA PBOC CONDUCTS CNY9186 BLN VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1136 TUES VS 7.0989

MNI BRIEF: Mexico Inflation Falls To 4.99% In August

MNI BRIEF: China Aug CPI Rises To Half-year High At 0.6% Y/y

MNI: US JUL CONSUMER CREDIT +$25.5B

EZ/UK Bond Supply Calendar: EU, IT Syndis; NE, UK, DE Due Tuesday

MNI:US JUL WHOLESALE INV 0.2%; SALES 1.1%

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GBP on Top Ahead of No Confidence Vote

FOREX
  • GBP has been the focal point for G10 currency markets so far Monday, with the PM Boris Johnson facing a no confidence vote from his lawmakers this evening. Johnson is expected to win the vote, which requires 180 of his lawmakers voting against him to be upheld. This would make the PM immune from further no confidence votes for the next 12 months - potentially removing an element of political uncertainty.
  • EUR/GBP has reversed off this morning's 0.8590 multi-week high to turn lower - narrowing in on the Friday low of 0.8540. A break below here opens the next key levels of support at 0.8506/8433, marking the 20-day EMA and May 23 low.
  • The greenback is the weakest currency in G10, prompting the USD Index to partially reverse last Friday's gains. This puts the index back on course to test the key support at the 50-dma, which today sits at 101.71.
  • Lastly, commodity-tied currencies are trading well, putting CAD and NOK near the top of the G10 pile. Oil-tied FX continue to take a lead from oil prices, with Brent futures holding either side of the $120/bbl level.
  • Looking ahead, data and central bank speakers are few and far between, with markets now in the media blackout periods for both the ECB as well as the Fed.
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.