Free Trial

Monday equity rout fails to bleed through.....>

FOREX
FOREX: Monday equity rout fails to bleed through into a second session
- Earnings season got off to a mixed start, with banks showing trading and
markets revenue surging strongly across the most recent quarter, while
commercial and business banking suffer the effects of lockdowns and changing
consumer habits.
- The greenback traded generally poorly, with the mixed start for US equities
leaving the dollar with little firm direction. NZD was the weakest across G10,
with NZD/USD testing the $0.65 handle before staging a decent intraday rebound.
GBP underperformed throughout after dire output and growth figures at the
beginning of the trading day, but GBP/USD still managed to post a near 75 pip
rally from the day's lows.
- UK inflation data crosses Wednesday, with US industrial production due later
in the day. Both the Bank of Canada and Bank of Japan rate decisions are
expected to show the banks keeping policy rates unchanged at 0.25% and -0.1%
respectively. BoE's Tenreyro and Fed's Harker are both due to speak. Earnings
are due from Goldman Sachs, BNY Mellon and UnitedHealth.

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.