MNI: Comparison of Powell's Opening Statement - July vs June

MNI: POWELL SAYS RATE CUT COULD BE ON TABLE AS EARLY AS SEPT.

MNI: FOMC Statement Comparison: July vs June

MNI China Daily Summary: Wednesday, July 31

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -3.44M TO 433.0M JUL 26 WK

MNI: US NAR JUN PENDING HOME SALES INDEX 74.3 V 70.9 IN MAY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Marginal USD Gains, G10 FX Broadly Unchanged For Week

FOREX
  • The greenback edged higher throughout early trade on Tuesday, holding on to gains throughout the US session. The dollar index is roughly 0.2% higher, erasing a similar magnitude of losses from Monday.
  • Albeit marginal, dollar gains come against the backdrop of lower US yields, with potential squaring of positions in treasuries ahead of the important US inflation data due Thursday.
  • NZD was the worst performer, retreating half a percent. The Kiwi was aided lower by a quick dip in Equities and despite major indices recovering swiftly, currencies appeared largely unphased, trading in narrow ranges. In a particularly light day for tier one data, EMFX was also quiet with EM currency indices broadly unchanged on the day.
  • A 30 point daily range in EURUSD is evidence of the lack of activity ahead of the ECB. EURUSD has shown potential signs of a technical correction and attention is on the 50-day EMA at 1.2102 that also represents a key area of support. On the upside, primary resistance has been defined at 1.2266, May 25 high.
  • Top of Wednesday's agenda is the Bank of Canada rate decision and accompanying statement, although this is largely expected to be a placeholder for a live July meeting. Markets will eagerly anticipate the release of US CPI on Thursday as well as the ECB policy statement and accompanying press conference.
Energy BulletsCommodities
Energy BulletsCommodities

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.