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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.
FOREX
The greenback is pressured in Asia, rising US Equity futures and a firmer Hang Seng have boosted risk appetite on Friday. BBDXY is at its lowest level of the week dealing at 1219.20, the April low at 1214.06 is the next support level.
- AUD is the strongest performer in the G-10 space at the margins. AUD/USD prints at $0.6730/35 up ~0.6% and at its highest level of the week. The 50-Day EMA has been cleared and the next level for bulls is $0.6772 high from Apr 20. RBA's SoMP didnt move the dail as the forecasts were in line with what the RBA said on Wednesday. The AUD has looked through a fall in the Iron Ore prices with prices now below $95/tonne as demand softens in China.
- Kiwi is also firmer, NZD/USD is up ~0.5%. The pair broke through its 200-Day EMA yesterday and has extended gains in Asia today.
- USD/JPY is a touch about the ¥134 handle, the pair is down ~0.2% today.
- Elsewhere in G-10 EUR and GBP are both 0.3% firmer benefiting from the broad based pressure on the greenback.
- The highlight today is the April NFP print, the MNI preview of the event is here.
Fig 1: BBDXY
Source: MNI/Bloomberg
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.
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