Free Trial

MNI: A calmer afternoon session for FX, with most....>

MNI, NEWS
MNI: A calmer afternoon session for FX, with most of the action in Govies and
Equities this afternoon 
-GBP extending lower since the Retail Sales morning release, and GBPUSD is now
looking to test back towards 1.3000, trading 1.3023 at the time of typing. -
The British pound feels heavy as investors head for the weekend. 
-Huge focus here turns to the UK PMIs on 24th January. 
-Scandies started the morning session bid in very thin liquidity, but saw some
offshore interest later in the day. The EURSEK sits close to flat on the day. 
-Very little to report in G10, with JPY, CAD, all within ranges.
-In EM, the Rand was bid this morning, but things quickly turned on the back
of:"@tito_mboweni Politics and Longevity. Political history shows that
overstaying your time in office is bad. Unlike royalty, you may be ejected from
State House in an undignified manner. It is good to retire gracefully." 
-Some thought Mboweni was indicating that he was about to step down after a
recent spat with his ANC colleagues about the fate of the Reserve Bank. USDZAR
is 14.4520.

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.