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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
- Despite the flurry of two-way trade following the US data and the brief slip into negative territory for the USD index, the greenback is edging higher once more approaching the end of the European session.
- USD gains are evident against most other G10 currencies amid dampened sentiment in equity markets and further upward pressure on core yields. However, GBP’s initial data boost earlier today is cementing it as the key notable outperformer on Wednesday.
- Strength in GBP has been broad based with prominent gains in the crosses. GBPJPY (+1.05%) has breached the late December highs and is trading at 2-month highs while EURGBP (-0.85%) has also broken a small uptrend, potentially signalling some further positive GBP momentum.
- For EURGBP, the intraday break below 0.8804 is a bearish technical development, and a close below here opens further weakness. 0.8770 & 0.8762 are the initial supports ahead and a break below here may threaten the underlying uptrend that has been in place.
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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