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Why MNI
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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.
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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Markets still clearly happy to continue....>
STERLING: Markets still clearly happy to continue selling GBP, with GBP/USD
hitting fresh session lows in early European hours and re-targeting the worst
levels of the year at $1.2382. Focus turns to the announcement of the new
Conservative party leader and Prime Minister at 1145BST/0645ET, after which the
new leader will make their first speech and Theresa May will formally step down.
-GBP/USD implied vols have picked up further for the front-end tenors, with
maturities out to six months seen higher (most noticeably in the contracts that
capture the so-called Brexit Day on October 31st. The most interesting options
trade crossing so far today were trades consistent with a Gbp30mln $1.2395
straddle rolling off on August 1st.
-Of note, over $700mln in GBP/USD put options are due to roll-off at the NY cut
today at the $1.24 handle, which may be adding some further pressure to GBP
spot.
To read the full story
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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.