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Cements Short-Term Reversal


BLOCK, Late put Fly


Extends Break of the 50-Day EMA

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  • The greenback is inching lower early Friday, with the USD Index just below yesterday's highs although still comfortably clear of the week's lowest levels. The USD's modest weakness has relieved some of the bearish pressure off EUR/USD, which now sits nearer to 1.1750 than the bear trigger at 1.1704.
  • GBP has moved from weak to weaker, with GBP/USD printing a new August low and narrowing the gap with the key support at the 1.3779 200-dma.
  • NOK is the best performer in G10, with CAD not far behind. USD and GBP are the weakest.
  • US Import/Export price indices are on the docket Friday, followed by the prelim reading for August Uni of Michigan sentiment data. Central bank speakers are few and far between, with no FOMC members on the schedule Friday.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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