Free Trial

Rally Fades, But Strong Weekly Gains


Bears Threat Remains Present


Late SOFR/Treasury Option Roundup


St Louis Fed Director On Inflation, Growth


Needle Points North, Despite Friday Pullback

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Greenback Trades On Back Foot, Kiwi Catches Light Bid With Key MAs In Play


The BBDXY is marginally softer amid light but discernible weakness in major safe haven currencies. A steady upswing in e-mini futures has generated a headwind to USD, JPY and CHF, with the three main contracts sitting 0.14%-0.32% higher on the day. Several central bank decisions are eyed this week, with the Fed's meeting Wednesday providing the focal point.

  • The kiwi is the best G10 performer, by a narrow margin, with some NZD crosses engaging key moving averages. NZD/USD is yet to test resistance from its descending 50-DMA, which capped gains yesterday. AUD/NZD has faltered past its 200-DMA after failing to close below there in the wake of yesterday's foray through the MA.
  • The regional docket today centres around the RBA's monetary policy decision (see our preview here). When this is being typed, the OIS strip prices 28bp worth of tightening today, implying that the market sees a 25bp increase in the cash rate target as a done deal. A minority of analysts (4/31 in a Bloomberg survey) have forecast a 50bp rate rise.
  • China's Caixin PMI will take focus later in the day, with manufacturing PMI readings from across the globe set to keep trickling through. The BoJ and BoK will publish the minutes from their September and October monetary policy meetings respectively. Japanese central bank Gov Kuroda will testify to parliament.

To read the full story

Why Subscribe to


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.