CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Greenback Softening In Recent Trade, BBG USD Index Prints Weekly Lows

USD
  • The greenback continues to trade with a softer tone, extending on weakness seen across early European hours. The Bloomberg DXY currently sits at the lowest level for the week, taking note of the lower US yields with some potential profit taking in play ahead of the Fed.
  • Higher equities continue to bolster the likes of AUD and NZD as the best performers on the session, however, EURUSD (+0.42%) is playing some catch up in recent trade, breaking above yesterday’s high of 1.0718. Overall, a bear trend remains for the pair and initial firm resistance is seen at 1.0766, the 20-day EMA.
  • GBPUSD has fully reversed the CPI-inspired decline, with fresh shorts potentially suffering from the close proximity to tomorrow’s BOE rate decision, where divergence has now emerged among analysts as to whether the MPC will hike or pause. Short-term cable gains are considered technically corrective at this juncture.
  • The lower US yields and the failed momentum above 148.00 overnight are also weighing on USDJPY, now around 55 pips off the overnight highs. The pair is yet to breach the week’s lows at 147.51.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

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.