Free Trial

Markets Await CPI, Fedspeak

FOREX
  • Currencies largely trade inside recent ranges, with traders awaiting today's CPI release and a deluge of Fedspeak ahead of the media blackout period that comes this weekend. The USD is mixed, with some pre-NY hours weakness emerging to erase modest gains seen in Asia-Pac trade.
  • Price action again favours GBP, although GBP/USD is yet to top the Monday high. NOK and CAD are again softer as middling oil prices do little prop up the oil-tied currency outlook.
  • Front-end implied vols are inching lower, with GBP implieds seeing the most notable decreases. The 1m contract now trades below the early April lows to rival February's post-pandemic low.
  • After a quiet Monday, the events calendar gets considerably busier Tuesday, starting with US CPI, which is forecast to have risen 0.5% in March. There are also a number of Fed speakers, with Harker, Daly, Barkin, Mester, Bostic and Rosengren all due.

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.