MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

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

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

Greenback Ends Week On Weaker Note Amid Debt-Ceiling Talks Collapse

FOREX
  • The USD spent the majority of Friday trading on a weaker footing as the currency pulled back a small part of this week's rally. This weakness was exacerbated by a wave of risk-selling following headlines on the debt ceiling. Headlines citing GOP negotiator Graves as stating that talks are at a pause, and the White House are not being reasonable. The USD index is down half a percent as we approach the week’s close, however, does remain stronger on the week by around 0.4%.
  • Following the headlines and corresponding sell-off across major equity benchmarks, USDJPY had an impressive slide from levels around 138.50 to a fresh intra-day low of 137.43, before paring some of these losses into the close.
  • Separately, the PBoC re-stated their vow to curb speculation in the FX market, urging institutions to maintain FX market stability. The statement sees curbing of speculation "when necessary". USD/CNH traded to fresh daily lows on the back of the headlines – with the pair printing as low as 7.0121 and looking set to snap its 3-day advance.
  • Antipodean currencies are firmer, keeping AUD and NZD top of the pile in G10. NZD/USD (+1.05%) has notably cracked the 100-day moving average to the topside. Market moves come ahead of the RBNZ rate decision next week, at which consensus looks for a 25bps hike to 5.50% - with a number of sell-side analysts switching their views to see a peak rate further north of current levels following this week's budget.
  • The economic calendar is very light on Monday but hots up Tuesday with a host of European Flash PMIs.
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.