CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

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

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

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

Greenback Carrying Bulk of Post-Fed Weakness

FOREX
  • The greenback is carrying the bulk of the post-Fed losses, and remains weaker against all others in G10 headed through to the NY crossover. The USD Index has shed around 0.75% from the week's highs, however the bearish engulfing candle pattern posted on Oct24 continues to weigh on EUR/USD. The 50-dma resistance for the pair sits ahead at 1.0639, a break above which is needed to ignite any more positive momentum.
  • EUR/NOK trades back to flat having reversed a brief post-Norges Bank rate decision (kept rates unchanged at 4.25%, as expected) spike as markets retain the view that a December rate hike is most likely, despite a moderation in language pointing to a potential hold later this year should inflation moderate faster than expected.
  • The Bank of England decision takes focus going forward, with the MPC seen keeping rates unchanged, with the main driving factor likely to be the vote breakdown. If there are less than three hawkish dissenters we could see a small dovish reaction in markets. If Dhingra votes for a cut, we could also see a small dovish reaction. Conversely if there is another 5-4 split this could see a hawkish market outcome (amplified even further if it was someone other than Breeden switching their voting intention).
  • The weekly US jobless claims data, September factory orders and the final durable goods orders mark the data highlights for the day. BoE's Bailey holds a post-decision press conference, with speeches also scheduled from Fed's Paese and ECB's Schnabel.
Energy BulletsCommodities
Energy BulletsCommodities

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.