MNI BRIEF: BOI Sees "Modest" Q2 EZ Growth Driven By Services

MNI China Daily Summary: Friday, July 12

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

MNI BRIEF: China Steel Export Growth Slows In June

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

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

MNI: BAKER HUGHES US RIG COUNT 584; OIL RIGS 478; GAS RIGS 100

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.10B BSL

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

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

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

Greenback Off Highs, But Few Signs of Reversal in Muted Trade

FOREX
  • The greenback is moderately lower early Monday, reflecting the lack of any material escalation in tensions across the middle-east. Resultingly, haven currencies are offered and helping keep the likes of JPY and CHF well off recent highs. Both EUR/USD and GBP/USD are modestly correcting off last week's pullback lows, however there are few signs of any bullish breaks across the USD pairs at present.
  • As such, there's a wait-and-see feel across G10 markets, however more action is noted across CEE, as the PLN rallies on the back of a surprising likely victory for the pro-EU opposition in the weekend's leadership elections. EUR/PLN has corrected lower, erasing the entirety of the rally that followed the central bank's surprise 75bps cut two months ago.
  • SEK is benefiting from the calmer backdrop, rising against all others in G10, as US futures point to a positive open on Wall Street Monday. NZD is similarly firm, however NZD/USD remains well within range of the Friday lows at 0.5884 and below the 50-dma resistance of 0.5946.
  • Focus Monday turns to the US empire manufacturing data for October, due alongside speeches from Fed's Harker and ECB's de Cos. Looking later in the week, UK and New Zealand inflation releases as well as the continuation of US quarterly earnings season should keep markets busy.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.