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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Monday saw GBP/USD extend losses as London....>
CABLE: Monday saw GBP/USD extend losses as London traders came in. Sterling had
already underperformed all of its G10 peers in Asia-Pac hours, after PM Johnson
signalled willingness to take a hardline stance in trade negotiations with the
EU. A revision to UK Markit/CIPS M'fing PMI, which brought the Jan reading to
the neutral 50 level from the flash reading of 49.8, produced little reaction
amid aforementioned concerns over UK-EU trade talks. As anticipated, PM Johnson
& EU envoy Barnier laid out their negotiating mandates with each side appearing
reluctant towards any major concessions.
- As a result, cable shed 211 pips and sank through its 50-DMA, erasing all
gains registered in the wake of last week's BoE MonPol decision. It holds steady
at $1.2993, resting upon support from a trendline drawn off the Dec 23 low. A
break below $1.2988, where the trendline intersects, would give bears the green
light for targeting the Dec 23 low of $1.2905. Bulls look for a rebound above
the $1.3077 50-DMA, which would open up yesterday's high of $1.3215.
- Coming up this week, we have Markit/CIPS Construction PMI (today) & Services
PMI (Wednesday).
To read the full story
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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.