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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.
USD
- The dollar has been under pressure throughout Thursday's session and selling momentum in the dollar index has accelerated following the break of short-term support below the October lows.
- The DXY (-0.5%) remains pinned to the lows, however, is approaching the first area of support for the index.
- 93.34 represents the intersection of the 50-day MA. Additionally, the 23.6% retracement of the 2021 Low-High comes in at 93.30 as well as an upward sloping trendline across the May-September lows featuring just below this fib.
- The selling coincides with sell-side month-end models uniformly pointing to USD sales into the October fix, with some models noting the signal is strongest against the JPY. This will keep market focus on these levels approaching the end of the week.
- Further downward trajectory would target 92.83, the 100-day MA and then 92.50, a 50% retracement. Core PCE Price Index headlines the US data docket on Friday
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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