MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI BRIEF: PBOC Increases Gold Reserves

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

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

Hawkish Jobs, Inflation Data Fail to Stir Demand for GBP Upside Via Options

OPTIONS
  • The USD's modest fade off highs, twinned with the UK CPI print this morning has helped stimulate currency activity across both options and future markets so far Wednesday, with cumulative activity sitting ahead of average for this time off day.
  • GBP/USD hedging markets are of particular interest, with the somewhat hawkish jobs market and inflation prints this week failing to support renewed demand for GBP upside. Instead, the put/call ratio has skewed toward downside cover over the past two sessions - over $5 in puts have traded for every $3 in calls - thanks to demand for 1.2350, 1.2300 and 1.2210 put strikes.
  • Some of the more salient trades over the past 48 hours include a series of sizeable volatility hedges rolling off just ahead of the BoE's June 20th policy meeting (at which a 25bps rate cut is currently ~20% priced). The trades are consistent with 1.1945 and 1.2210 2-month straddles, capturing the May9 BoE decision and next round of jobs / inflation data on May14, May22 respectively.
Homepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Homepagemarkets-real-timeBulletMarketsForeign 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.