MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: PBOC Injects Net CNY2 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0967 FRI VS 7.0968

MNI China Press Digest April 12: CPI, Upgrades, Hainan

MNI BRIEF: BOK Holds Policy Rate At 3.50% - Press

MNI: FED BALANCE SHEET TOTAL ASSETS -$1.4B TO $7.438T IN WEEK

MNI: USDA: 2023/2024 CORN PRODUCTION EST 15.34B BSL

US EIA:NAT GAS STORAGE +24 BCF TO 2,283 BCF APR 05 WK

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Greenback Extends Weakness, USD Index To Fresh One-Month Low

FOREX
  • The USD index looks set to post a third consecutive losing session, declining 0.35% on Monday and falling below last week’s lows of 103.44 in the process. Despite an early sell-off across equity markets, the greenback failed to garner any upward momentum during European hours and the subsequent bounce for risk has in turn weighed consistently on the US dollar.
  • GBPUSD (+0.85%) has outperformed on the session, second to only the Swedish Krona. The pair has been grinding consistently higher to breach the mid-Feb resistance of 1.2269. A close and break above this mark would be a bullish development in the near-term, but the more solid upside level crosses at the Dec/Jan highs of 1.2446/48. GBP/JPY has also traded back into positive territory and has seen a near 1.5% recovery off the 158.97 session lows.
  • In similar vein, the likes of the Euro and the Canadian dollar are making advances of around 0.5% amid the improved risk backdrop and market calm following the CS/UBS tie-up and the associated headlines concerning a write-down for Credit Suisse AT1 holders. Conversely, the Swiss Franc does remain under pressure with notable 0.75% gains for EURCHF, extending the bounce from last week’s lows and narrowing the gap with parity once more.
  • RBA minutes and Canadian CPI highlight Tuesday’s docket. Focus the turns to Wednesday’s FOMC decision/statement. There aren't many sell-side analysts calling for a Fed hold this week, however of 25 FOMC previews we've reviewed so far (and only taking into account those written/updated at the end of last week or today, given how quickly events have moved), four see a pause, with the rest eyeing a 25bp hike.
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.