Free Trial

Modest risk appetite returns, with JPY on.....>

FOREX
FOREX: Modest risk appetite returns, with JPY on the backfoot
-After the negative equity close Monday in the US, risk appetite returned
modestly across the Asia-Pac session and into the European morning. Italian
assets outperform alongside the submission of the Italian coalition's budget
plans to Brussels. EUR/USD's been supported from the off, but failed to broach
$1.16 and pulled back following a poor turn out from the October ZEW survey.
-Alongside the pick-up in sentiment, USD/JPY's recovered above Y112, but gains
are modest and are yet to test yesterday's Y112.26 high. UK jobs numbers helped
GBP spill briefly above the $1.32 mark, showing a stronger-than-expected turn
out for wage growth thanks to multi-year high pay packets for the public sector.
-NZD trades well following higher-than-expected CPI numbers: 0.9% Q/Q vs. Exp.
0.7%, but the rally stopped shy of the 50-dma at $0.6595.
-The speaker calendar is particularly quiet today, with attention remaining on
US earnings reports (Goldman Sachs, Morgan Stanley, BlackRock, Netflix, IBM
among others all due) and US industrial production for September.

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.