Free Trial
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.
CROSS ASSET
- Headed into the Fed, markets remain primarily long of Treasuries, with non-commercial traders net long of 15k contracts - inline with the 2021 average.
- Meanwhile, leveraged funds continue to build the net position in 10y notes, with last week's CFTC CoT release putting the net position close to early March's +364k net position - which was the highest since 2014.
- In FX space, USD positioning remains net long - but only just. The MNI FX Positioning Indicator sits close to the best levels of 2021 and just above 0, but there's been little shift in positioning headed into today's decision.
- Directional parameters for the USD Index hold from the tail-end of last week, with 90.682 as first support, while the 91.590 20-day EMA provides the next key level of resistance.
Figure 1: USD Index, MNI USD Positioning Indicator
Source: MNI/Bloomberg
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok