Free Trial

Global trade concerns continue to pressure....>

FOREX
FOREX: Global trade concerns continue to pressure commodity-tied FX, with CAD,
NZD & AUD all registering modest losses. NZDUSD extends the recent downtrend to
$0.6714 ahead of tomorrow night's NZ Q4 CPI read. A break of the $0.67 level
opens the 50% retracement of $0.6425-0.6970 & 100-dma at $0.6697/90. USDCAD
reclaimed C$1.33, before topping out around the Jan 17 high (C$1.3319). The
50-dma provides the next layer of resistance at C$1.3357, ahead of the Jan 7
high at C$1.3391. AUDUSD touched pullback lows of $0.7141, targeting a downside
break of the Jan 8 low & 21-dma low at $0.7117/14. 

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.