DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Month-, year-end approaching and the USD......>

FOREX
MNI (London)
FOREX: Month-, year-end approaching and the USD retains its soft tone with
month-end models confirming earlier predictions that USD sales to be seen at
today's fixes. The expected thin liquidity into the close of the year had
traders positioning for the pressure on the USD. EUR/USD remained buoyed above
$1.1200 through Tuesday but held off a retest of Monday's high of $1.1221. Cable
retained a buoyant tone above $1.3100, the rate able to break above its Monday
high of $1.3150 on its third try, taking rate on to $1.3169. JPY also took
advantage of the softer USD but was also driven by the easing in equity markets.
USD/JPY ground its way to an extended low of Y108.59. AUD extended gains above
$0.7000, touched $0.7013 moving next major resistance at $0.7082 into view.
USD/CAD break below C$1.3040 has brought its YTD low of C$1.3016 into view. USD
move allows the DXY to make a show under its Dec12 low of 96.588. Fixes remain
key to activity ahead of month-end.  
- Lower tier U.S. data headlines today's docket, Case-Shiller and US Consumer
Confidence, with liquidity a little more
limited over the coming days owing to various market closures.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
Energy BulletsCommodities

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.