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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 US OPEN - Trump Warns BRICS Over Moving Away From USD
MNI BRIEF: Japan Q3 GDP To Be Slightly Revised Down
Gold at an Alltime High on USD Dive
The USD has started the week poorly in what's likely to be a frenetic and
busy week. Broad-based USD weakness has fed into higher precious metals
prices, with spot gold piercing a new alltime high at $1944.71 to add to
the already technically overbought outlook. MNI Tech now sees next
resistance at Fibonacci projection levels of $1967.00.
The tit-for-tat escalation of US/China consulate closures remains
the key driver for risk, boosting haven currencies and working against
the USD. This has kept haven FX bid, resulting in JPY outperforming
(although this hasn't extended to CHF at the midpoint of the European morning.
Escalating COVID-case counts in Spain have kept a lid on European
equities, promping the IBEX-35 to sink over 1.5%.
It's a frenetic week for earnings, with close to 50% of the S&P500
by market cap due to report. The busiest session is Thursday, with
Apple, Amazon and Alphabet all due. Prelim US durable goods for June
are the data highlight.
To read the full story
Sign up now for free trial access to this content.
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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.