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Free AccessMNI Eurozone Inflation Preview - November 2024
MNI POLITICAL RISK - Trump Initiates Tariff Negotiations
MNI US MARKETS ANALYSIS - CAD Slips as Trump Looks to Tariffs
Hedging markets notably quiet so far........>
OPTIONS: Hedging markets notably quiet so far Thursday, with options volumes
across most major DM pairs much lower than recent averages for this time of day.
Slightly busier USD/KRW, USD/TWD and USD/INR markets are countered by more muted
EUR/USD, USD/CNY and EUR/USD trade.
- Reflecting the quieter trading activity, front-end implieds are mostly lower
across DM, with the largest falls seen in GBP/USD (1m contract down 0.5 points),
although this holds most of the recent election-inspired gains. Lower implieds,
however, are most notable in EUR/USD, which has prompted the 3m contract to hit
the lowest levels on record today, at just 4.7575 points.
- Asia-Pac volatility markets are more mixed, with USD/KRW seeing signs of life.
USD/KRW downside exposure has been in demand, with 1,168 and 1,155 put strikes
most in demand (although this is likely a vol hedge, with equally sized 1,191
calls also crossing).
- Despite some recent optimism over a 'phase one' trade deal, USD/CNY front-end
riskies remain bid. The 3m contract today hit highest in a month at 0.91 points
in favour of USD/CNY calls.
To read the full story
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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.