-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessGBP on Top on Hot CPI, AUD Downtrend Resumes
- GBP is seeing support across European hours on the back of the higher-than-expected CPI print – which unexpectedly ticked up to 4.0% from 3.9% - above all submitted analyst expectations. Perhaps more notably, both the core CPI print and services inflation metric were ahead of forecast, forcing markets to partially unwind some of the rate cut pricing bedded in since the beginning of the year.
- Resultingly, the market pricing of May rate cut has faded. Having been fully priced at the beginning of the week, just 17bps is now priced for that meeting. GBP/USD has bounced off weekly lows of 1.2597, to narrow in on 1.2700. A recovery above 1.2727 would reverse the entirety of the Tuesday sell-off.
- President Lagarde declined to comment directly on ECB rate cut pricing in an early appearance, however hinted heavily toward policy easing in the Summer. The comments were broadly infitting with GC speeches earlier this week, but EUR/USD remains in a downtrend key support at the Jan 5 low was breached, opening the 50% retracement of the Oct-Dec ’24 rally at 1.0793.
- Antipodean currencies are underperforming as the risk backdrop remains fragile. AUD and NZD hold among the session’s poorest performers, extending the AUD/USD losing streak and resuming the downtrend through support at the 200-dma of 0.6583 – which broke across the opening hours of the Wednesday session.
- The World Economic Forum in Davos continues, with appearances from several political leaders scheduled, including the French President and the Iranian foreign minister. Pre-media blackout appearances from ECB’s Vujcic, Knot and Lagarde are due as well as Fed’s Barr, Bowman and Williams.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.