Free Trial

Greenback Surges Further as Equities Slip Through Support

CROSS ASSET
  • Greenback rising further still in recent trade, hitting new daily highs vs CAD, EUR, GBP and AUD. Move coincides with more broad risk-aversion as equities remain weak.
  • The e-mini S&P now trades lower by close to 50 points and the Sep contract has now broken through the 50-dma at 4167.
  • Financials are leading the decline - hurt by the flattening US curve - with the sector down over 2%, but all sectors are seen lower, underpinning the broad-based weakness.
  • USD Index trades at the best levels since mid-April, adding to recent gains of 2% since the Fed decision.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.