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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.
FOREX
- The Long USD Trade remains crowded amid elevated uncertainty over the economic outlook.
- Momentum on the US Dollar this year has been bullish mostly driven the divergence in growth expectations between the US and the rest of the world.
- With the Fed preparing for tapering and potentially starting to raise interest rates in the second half of 2022, demand for the USD has remained elevated, pushing the greenback higher against most of the currencies.
- The chart below shows that the net long specs have recently been at their highest level since January 2019.
- First resistance to watch on USD index stands at 94.62, followed by 94.74 (Sep 2020 highs). On the downside, first support stands at 94, followed by 93.50 (50DMA, LT upward trending support line).
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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