MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Mixed Currency Performance Across G10 Following US Growth Data

FOREX
  • The US GDP beat for the Q4 advance (2.9% vs cons 2.6%) provided an initial spike for the greenback on Wednesday. However, with the details of the report much less flattening, and core PCE coming in exactly in line with expectations at 3.9% annualized, the initial USD strength almost immediately reversed course.
  • Most major pairs traded back to pre-data levels as market participants digested the data, which appears very unlikely to move the needle for next week's Fed decision.
  • With that said, the USD index looks set to post a quarter percent gains approaching the APAC crossover, with the data doing enough to halt the greenback slide that culminated in the DXY printing fresh trend lows at 101.50 during today’s session.
  • Both CAD and CNH are topping the G10 leaderboard, with roughly half a percent gains amid the moderate advances for major equity indices. Perhaps reflecting a similar narrative, the Japanese Yen is one of the worst performers, with USDJPY consolidating back above the 130 handle.
    • The pair made a new weekly low of 129.03 overnight before bouncing impressively both ahead of and post the US data. The USDJPY trend outlook remains bearish for now and resistance at 131.58, the Jan 18 high, remains intact.
  • Friday’s docket is highlighted by US Core PCE Price index data, as well as personal income/spending, pending home sales and university of Michigan sentiment data.
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.