MNI: BOJ Tankan: Key Sentiment Rises, Solid Capex Plans

MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Month-end Value/France COVID Spread Weigh on EUR/USD

EURO-DOLLAR
MNI (London)
  • Late Tuesday move down to $1.1793, breaking under its earlier Europe low of $1.1796, seen on market reaction on suggestions France could move into a full lockdown. Macron speaks at 1900GMT.
  • Opening Asia added weight, increased sales noted on the move below $1.1790 which took rate to an early low of $1.1770.
  • Rate recovered to $1.1788(holding below the break out $1.1790 level) then settled around $1.1780 through the main part of the Asian day.
  • Rate edged to $1.1785 into Europe before fresh selling emerged to press rate down to a fresh low of $1.1765.
  • Month-end value today which could prompt US corporate USD demand(possibly sovereign interest as well). Month-end models have suggested USD sales to be seen at Friday's month-end fixes.
  • Support seen at $1.1762/60(61.8% 1.1689-1.1881/Oct20 low) ahead of $1.1740/35. Resistance $1.1790/1.1805, $1.1820/30.
  • MNI Techs: Attention turns to key near-term trendline support, drawn off the Sep 28 low, that today intersects at 1.1740. While trendline holds, the uptrend since 1.1612, Sep 25 low, remains intact. A break would undermine the bullish tone and expose 1.1689, Oct 15 low. The near-term bull trigger is at 1.1911.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets

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.