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Policy
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Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
Emerging Markets
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Real-time insight of emerging markets in CEMEA, Asia and LatAm region
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Commodities
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Real-time insight of oil & gas markets
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Data
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MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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About Us
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Free AccessKey Support at $1.2060/59 in Focus
- The corrective pullback, off the Jan06 YTD high of $1.2349 extended to $1.2075 Friday before closing the week at $1.2081.
- Early Asia edged rate to $1.2093 before fresh sales emerged, reacting to a report in the WSJ, to take rate to a further extended low of $1.2065, moving the Dec09 low of $1.2059 within touching distance. Tech traders also highlight the 55-dma at $1.2060.
- WSJ ran a sources report suggesting Janet Yellen will affirm the US Govt's commitment to a market determined exchange rates and ensure future US policy won't seek weaker currency competitive trade advantages (strong USD policy)
- Recovery efforts were capped at $1.2085 before a retest of the low, the rate edging back to $1.2080 into Europe.
- US holiday observing Martin Luther King Day should make for slow markets with data calendars for Europe and the US light.
- Support $1.2060/59, $1.2040, $1.2010/1.1995. Resistance $1.2093/1.2111.
- Reports suggest we could again be close to a correction base, UST yields may have seen a recovery high, which along with a dovish Fed and Biden's COVID plan, provides reasons for another round of pressure on the USD.
- MNI Techs: EURUSD is trading closer to recent lows. The move lower since Jan 6 signals the start of a correction that is allowing a recent overbought condition to unwind. Price action has this week traded through the 20-day and now 50-day EMAs to expose the early Dec lows at 1.2059, printed on Dec 9. Note too that the most recent consolidation appears to be a bear flag, reinforcing bearish conditions.1.2230 marks initial resistance.
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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.