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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.
US
- The growing uncertainty over the economic outlook in recent weeks has been supporting the US Dollar, which keeps reaching new highs against most of the currencies.
- The USD index broke above its 94.09 resistance today, which represents the 50% retracement of the 89.21 – 102.98 range.
- In addition, we have also seen that the sharp contraction in Chinese 'liquidity' since the start of the year has been weighing on risk-on currencies (i.e. Euro, Sterling) and China-sensitive currencies (i.e. Australian Dollar), and is still pricing in further USD appreciation.
- Next resistance to watch on the topside stands at 97.72, which corresponds to the 61.8% Fibo retracement.
- On the downside, first support stands at 96, followed by 95.58.
Source: Bloomberg/MNI
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.
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