BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

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

Markets Mixed as Relief Rally Pauses

EQUITIES
  • The relief rally off the week's lows hit pause early Thursday, with sentiment knocked by mixed reports in eastern Ukraine of shell fire being exchanged in the disputed Donbas region. While both the Ukrainian and Russian military have vehemently denied responsibility (likely leaving domestic Ukrainian separatists at fault), markets remain shaky, with Spanish, Italian and UK indices in the red at the NY crossover.
  • Similarly, US futures are lower, indicating a negative open at the bell later today. Losses are broad-based, but modest underperformance is noted in the tech and growth-led NASDAQ, which sits 0.7% below water.
  • Europe's energy sector is reversing recent outperformance, and is the weakest so far Thursday, while consumer discretionary and utilities are at the top of the Stoxx600.
  • Intraday volatility for stocks underpins the fragility of headline markets at this stage, with corrective intraday rallies proving particularly shallow. This keeps the outlook pointed lower for now, with downside impetus strengthened by the failure of the e-mini S&P to hold above the 50-day EMA - at 4549.15. EUROSTOXX 50 futures remain vulnerable despite the Wednesday bounce. Last week, the contract failed to hold above the 50-day EMA - at 4188.70. This average still represents a key resistance point where a clear break would suggest scope for a stronger recovery and open 4324.50, Jan 13 high.

EM BulletHomepagemarkets-real-timeFixed Income BulletsEquitiesBulletMarketsEmerging Market NewsForeign Exchange BulletsAT&T Market NewsBank of America Market News
EM BulletHomepagemarkets-real-timeFixed Income BulletsEquitiesBulletMarketsEmerging Market NewsForeign Exchange BulletsAT&T Market NewsBank of America Market News

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.