Free Trial
US TSYS

Early Headline Driven Moves Evaporate

EQUITY TECHS

E-MINI S&P (U2): New Monthly High - Briefly

AUDUSD TECHS

Clears The 20-Day EMA

US TSYS

Eurodollar/SOFR/Tsy Option Roundup

US

Late Corporate Credit Roundup

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
FOREX
MNI (London)
FOREX: Markets were awoken as Europe stepped in this morning as traders reacted
to an earlier released report in the FT suggesting ECB concern over EU Bank's
exposure to Turkey. As USD/TRY spiked higher so EUR/USD dropped through recent
range base and support at $1.1500 with triggered selling in the move taking rate
through $1.1450 and on to an eventual low of $1.1432. Reaction also allowed
EUR/Yen to break its support at Y127.60 which exposed support at Y126.60 with
some looking toward Y124.62. EUR/GBP extended its corrective pullback away from
its Thursday high of Gbp0.9031 to GBp0.8935 but Brexit concerns remaining
provided the eventual counter as the cross recovered back toward its Asian high
of Gbp0.8990 as cable sank on to $1.2736(fresh YTD low). Confirmation of UK Q2
GDP did little to lift pressure from the pound. Markets settled late morning as
market turns attention toward US CPI and speeches from the Turkish Finance
Minister Albayrak, due to speak at 1130GMT and to present a 'new economic plan &
model', with Turkish President Erdogan also expected to speak.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.