MNI BRIEF: China Extends U.S. Import Tariff Exemption List

MNI: GERMANY OCT RETAIL SALES -1.5% M/M

MNI: GERMANY OCT EXPORT PRICE INDEX 0.3% M/M, 0.6% Y/Y

MNI BRIEF: Trump Tariffs To Push China, EU Cooperation - BOC

MNI: PBOC Net Drains CNY156.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1877 Fri; -1.39% Y/Y

MNI: SWISS Q3 GDP +0.4% Q/Q, +2% Y/Y

MNI: SWISS KOF NOV ECONOMIC BAROMETER 101.8

MNI: FRANCE GDP Q3 2ND EST +0.4% Q/Q

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

GBP/USD Retains Heavy Feel

GBP
MNI (London)
  • Extended its recent corrective pullback, away from its posted YTD high of $1.4237 (Feb24) in Asia, breaking below Friday's low of $1.3888 to $1.3866.
  • Move seen USD led with GBP/USD moving lower in tandem with EUR/USD as EUR/GBP holds around its key 10-dma (current Gbp0.8649).
  • Support seen into $1.3850($1.3851 1.0% 10-dma envelope), a break to expose $1.3823(61.8% $1.3567-1.4237). Resistance $1.3932, $1.3950/60, $1.3980, stronger into $1.4000.
  • A light UK calendar Tuesday (Nationwide House Prices released at 070GMT, +0.7%mm, +6.9%yy). Focus on Fed speak with Brainard speaking at 1800GMT, Daly at 1900GMT.
  • UST yields and Fed speak remain key market drivers.
  • MNI Techs: Cable remains vulnerable following the pullback from the Feb 24 multi-year high of $1.4237. The pair has eased again as it weakens within the range highlighted by a bull channel drawn off the Nov 2, 2020 low. Price is also trading below the 20-day EMA and the breach signals scope for a move towards $1.3823, a retracement level and the key near-term support at $1.3776, Feb 12 low. Initial resistance is seen at $1.4029, Feb 26 high.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets

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.