CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

GBPUSD Extends Bounce From Multi-Month Lows

GBP
  • Cable rising to the best levels of the session in recent trade, helped by a moderate turn lower for the broader USD index and slightly more hawkish comments from Pill that don’t sound as though he is looking for an imminent cut at this juncture and BOE pricing modestly adjusting accordingly.
  • Price action extends the bounce from yesterday’s five-month lows of 1.2300 to around 90 pips.
  • Overall, the trend condition in GBPUSD remains bearish and last week’s extension plus Monday’s move lower, reinforces current conditions. Moving average studies are in a bear-mode set-up, reinforcing a bearish theme. Sights are on 1.2266, the Nov 14 2023 low. Initial firm resistance remains higher at 1.2524, the 20-day EMA.
  • CBI trends and business sentiment data due tomorrow, however, cable will likely pay more attention to the US GDP figures due Thursday.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.