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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 China Daily Summary: Monday, November 25
GBP struggled yet again, as the latest set....>
FOREX: GBP struggled yet again, as the latest set of inflation data missed
estimates. This prompted a $1.3010 print in GBP/USD, representing a fresh YtD
low, although rates markets were relatively unchanged after the data. MNI's
PINCH model still sees the probability of an August rate hike at just under 80%.
GBP/USD calls were in vogue, with focus on expiries just after the BoE's Aug
rate decision, with strikes layered from $1.3150-1.3500. There was a late, ltd
relief rally on a report that an extension to the Article 50 deadline is being
discussed in the backrooms of Brussels, as MEPs & off'ls from member states
weigh up plans to avoid a cliff-edge Brexit (although horizons touted vary).
- Antipodean FX performed well again, with AUD & NZD rising against all others
and any break above the respective NZD/USD and AUD/USD 50-DMAs may confirm that
the pairs have printed a near-term bottom.
- The session saw little outright USD price action, with the greenback flat
following Powell's largely unchanged testimony.
- Focus turns to UK retail sales, AU labour mkt report & Fed's Quarles on
Thursday.
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.