MNI BRIEF: Commodities An Obstacle To Rate Cuts: World Bank

MNI BRIEF: Canada Firms' Price Plans Jump In April- CFIB

MNI BRIEF: Commodities Likely To Hurt Disinflation- World Bank

MNI CBRT WATCH: Turkey CenBank Holds After "Significant" Hike

MNI China Daily Summary: Thursday, April 25

MNI BRIEF: China Opposes Accusations Of Overcapacity - MofCom

Japan Tokyo Apr Core CPI +1.6% Y/Y

JAPAN APRIL SERVICES PRICE +0.8% Y/Y; MARCH +2.0%

MNI JAPAN APRIL TOKYO CORE CPI +1.6% Y/Y; MARCH +2.4%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Higher Equities Weigh On USD Sentiment

FOREX

The early tone for the USD has been softer against the majors, albeit within modest ranges. The BBDXY is down by 0.2%, last at 1337.90. AUD, NZD & GBP are leading gains.

  • The early tone to regional equities is modestly positive, in line with overnight gains, although US futures are just in positive territory.
  • GBP/USD is back above 1.1300 (last 1.1320/25), with some positive carry over from the overnight session. Gilt yields slumped, with Rishi Sunak becoming the new PM and hopes of more conservative fiscal policy. Still, GBP remains well below early session highs from yesterday (above 1.1400).
  • AUD/USD is around 0.6335/40, +0.40% on NY closing levels. The main focus will be on tonight's budget speech, although a lot of details appear already known by the market. See this link.
  • NZD/USD is slightly trailing AUD, last at 0.5705/10, +0.25% for the session. Earlier, RBNZ Chief Economist Conway noted that the central bank is hopeful inflationary pressures to ease, but otherwise didn't shift market expectations. NZGB yields are lower, with the 2yr back to 4.52% (-7bps), although some of this is catch up after onshore markets were closed yesterday.
  • USD/JPY is quiet, tracking around 148.80 currently, EUR/USD is +0.20%, trading near 0.9900.
Energy BulletsCommodities
Energy BulletsCommodities

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.