MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +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 Continues To Consolidate Ahead Of Inflation Data

FOREX
  • G10 currencies held narrow ranges on Tuesday amid a very light data calendar and markets remaining calm ahead of US inflation data on Thursday.
  • The US dollar index is 0.2% higher for the day, however, the index remains broadly unchanged from the start of European trade. Continuing to edge off the recent lows, the DXY looks to be consolidating after last week’s consistent selling pressure.
  • Underperformers of note are CAD (-0.39%), JPY (-0.36%) and NOK -0.7%), whereas the Australian dollar managed to post a win as EURAUD continued to erode recent gains.
  • Of note in tomorrow’s session, we have Bank of Canada Governor Macklem due to speak at the Canadian Chamber of Commerce on the role of productivity in fostering non-inflationary growth. Having explicitly tied the rate path to productivity growth, his comments will be eagerly anticipated before the March meeting.
  • The USDCAD outlook remains bullish despite yesterday’s bearish session. A positive theme follows the recovery from 1.2451, Jan 19 low. Price trading above the 50-day EMA reinforces a bullish theme and has opened 1.2843, a 76.4% retracement. Initial firm support lies at 1.2560, Jan 26 low with immediate support residing at 1.2650, Jan 27 and Feb 2 low.
  • Overnight, quarterly inflation expectations for New Zealand will be in focus.
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.