MNI BRIEF: European Fiscal Board Calls For Fiscal Tightening

MNI BRIEF: ADP's Richardson Sees Pockets of Weakness in US Job Market

MNI China Daily Summary: Wednesday, July 3

MNI BRIEF: NBP Holds Reference Rate At 5.75% As Expected

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

MNI: US MAY FACTORY ORDERS -0.5%; EX-TRANSPORT NEW ORDERS -0.7%

MNI: US ISM JUN SERVICES COMPOSITE INDEX 48.8

US JUNE FINAL SERVICES PMI 55.3 (55.1 FLASH; 54.8 MAY)

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

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

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

Markets Shake Off Sluggish Open to Retain Risk-On Feel

FOREX
  • Currency markets shied away from risk-proxies and commodity-tied currencies at the open, with the concern of any spillover impact from TRY volatility keeping a lid on risk appetite. As it became increasingly clear that the risk was relatively contained, markets picked the likes of EUR and CNH off the day's lows, both of which improved into the NY close.
  • USD, CAD traded poorly into the close, with NOK and CHF the day's best performers.
  • TRY recovered a decent portion of the opening losses, but remains on track for a considerably weaker close. Offshore TRY borrowing rates shot higher as the session progressed, which may have stemmed some of the spot losses as shorting the currency became prohibitively expensive.
  • Focus Tuesday turns to jobs data from the UK as well as February new home sales data from the US.
  • A number of central bank speakers cross, with BoE's Baily, Haldane & Cunliffe, ECB's Villeroy and no fewer than 7 different Fed 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.