MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

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

Markets Testing SNB Tolerance

FOREX
  • JPY is the poorest performer on the day, but the pullback pales in comparison to the strength seen into the Wednesday close. USD/JPY looks to the 114.00 handle as a near-term anchor, with markets needing to retake 114.97 to reignite the upside argument, while a break below 113.76 would prove bearish.
  • EUR/CHF remains a focus, with markets watching the cross testing the key support seen ahead of the 1.05 handle. 1.0503 remains the low print so far, with traders looking to gauge the SNB's implied tolerance level for the cross.
  • NZD is the strongest currency in G10, with the currency taking the lead from 2yr inflation expectation data released overnight, which surged to 2.96% from 2.27% previously - the highest rate since 2011. NZD/USD rallied to narrow the gap with the 50-dma of 0.7056. A break above here would see the short-term outlook improve toward 0.71 and the 200-dma.
  • Data in focus later today includes weekly US jobless claims, with markets expecting a modest improvement in claims, seen dropping to 260k. Fed speakers remain plentiful, with Fed's Williams likely the focus - he speaks on transatlantic responses to the pandemic. Others include Evans, Bostic and Daly, but don't appear policy-oriented.
Energy BulletsCommodities
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.