Free Trial

Markets upbeat amid familiar themes...........>

FOREX
FOREX: Markets upbeat amid familiar themes
-Markets are modestly upbeat Monday, with global equities trading relatively
well. Core European bourses are up around 0.5% and US equity futures are
indicating a similar uptick at the open of this holiday-shortened week. In
currencies, this has flattered GBP, but GBP/USD looks capped under the $1.29
handle at present. JPY is the weakest, further supporting risk-on flows. USD/JPY
sits just below the 200-dma at Y108.95 - a break of which could further support
risk today.
-Scandi FX had a lively start, with markets following a technical break in SEK
as both EUR/SEK and USD/SEK cracked through rising trendlines. The currencies
look somewhat more settled ahead of the NY crossover, however.
-Liquidity and volumes will be light in the latter half of the week, with the US
closed for Thanksgiving Thursday and (partially) Friday. It's a particularly
quiet calendar today, with Canadian wholesale trade sales and Chicago Fed/Dallas
Fed activity indices the sole releases. The speaker schedule should elicit a
little more interest, with ECB's Holzmann, Lane, Mersch and de Cos 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.