Free Trial

Month-, quarter-end provide sole price........>

FOREX
FOREX: Month-, quarter-end provide sole price action
-Other than a spell of minor month- and quarter-end currency volatility, it was
generally a quiet Monday, with recent themes and trends carrying over from the
weekend. There was little in terms of news or data to drive risk sentiment in
either direction, keeping focus on the underlying themes.
-A disappointing MNI Chicago PMI release (47.1 vs. Exp. 50.0) proved a temporary
setback for USD/JPY, which sustained a minor rally from the day's lows at
Y107.74 to make a decent test on the Friday high at Y108.18.
-The RBA are seen cutting rates by 25bps at their rate decision Tuesday, ahead
of which AUD/USD is trading in close proximity to $0.6739 support. A break below
here could open the early September and YTD lows at $0.6688 and $0.6677
respectively.
-Japan's Q3 Tankan survey is due Tuesday, as well as September manufacturing
PMIs for the Eurozone, US and UK, advance Eurozone inflation data and ISM
manufacturing. ECB's Draghi, Weidmann & Lane, Fed's Evans, Clarida & Bowman and
RBA governor Lowe are all on the docket.

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.