MNI BRIEF: RBA To Change Policy Implementation Mechanism

MNI BRIEF:Trudeau Opens Fiscal Taps On Housing Before BOC Meet

MNI BRIEF: Market Pricing Compatible With 2% Target -De Cos

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

MNI BRIEF: PBOC To Curb Any Overshooting Of The Yuan-MPC

MNI China Daily Summary: Wednesday, April 3

MNI: AUSTRALIA FEB BUILDING APPROVALS -1.9% M/M, -5.8% Y/Y

MNI: AUSTRALIA MAR DWELLING APPROVALS -1.9% M/M

US Treasury Auction Calendar

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Market Still Favours USD as Stock Selloff Abates

FOREX
  • The dollar is firmer for a fourth session, with the greenback rising against most others in G10. Greenback strength comes despite the easing of selling pressure in equity markets, with stocks across Europe and in US futures space both staging a modest bounce.
  • Nonetheless, the recovery in stocks has been tepid at best, with the e-mini S&P still around 50 points shy of the week's best levels. As a result, growth proxies and high beta currencies are yet to have felt any benefit, with NZD and AUD among the session's poorest performers so far.
  • GBP/USD's downtrend persists Tuesday, with the pair bottoming out a new multi-month low of 1.3627. The outlook is deteriorating with prices south of the 200-dma, opening losses toward the next key support at the February low of 1.3567.
  • Today's session is a little busier, but there's still a relative lack of tier 1 data releases. US building permits/housing starts are due and there are no notable central bank speakers.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.