Free Trial

Little to write home as news wires remained...>

FOREX
FOREX: Little to write home as news wires remained fairly quiet, allowed the FX
space to consolidate ahead of a week-long holiday which gets underway in China
on October 1. JPY outperformed its G10 peers at the margin, as local equity
benchmarks sank because of a large number of the country's firms going
ex-dividend today. A slight miss in Tokyo core CPI was virtually ignored.
- NZD was the worst G10 performer, unwinding some of its yesterday's rally. A
deterioration in local consumer confidence to a four-year low, indicated by the
most recent ANZ survey, initiated the heavy tone as it defied yesterday's upbeat
comments from RBNZ Governor Orr. A trader source told BBG that option-related
selling pressure limited NZD/USD's recovery.
- A complex of familiar uncertainties allowed USD/KRW to push above its 50-DMA.
- Chinese BoP (f), U.S. U. of Mich. survey, personal income/spending and durable
goods orders, French CPI (p), Swedish retail sales and Norwegian unemployment
take focus today. Comments are awaited from BoE's Saunders, Riksbank's Floden,
ECB's de Guindos, Knot, Lane and de Cos, as well as Fed's Quarles and Harker.

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.