Free Trial

Month End Flow on Market's Mind

FOREX

EUR/USD continued to grind higher throughout European hours on Monday, with the pair cresting at new multi-month highs and narrowing the gap with 1.20 and the post Covid highs printed back in early September. As a result, the USD's been sold across the board, with the USD index hitting its lowest level mid-2018.

Month-end models continue to point to USD weakness into the November close, which markets remain focussed on headed into US hours.

Scandi FX is strongest, with USD at the bottom of the G10 pile along with AUD.

Focus turns to MNI Chicago PMI, pending home sales and Germany's CPI release. Speakers include BoE's Tenreyro and Fed's Barkin.

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.