MNI China Daily Summary: Tuesday, June 11

MNI BRIEF: China SME Index Down Slightly In May

MNI: PBOC Net Drains CNY2 Bln Via OMO Tues; Rates Unchanged

MNI BRIEF: Brazil May Inflation 3.93% As Floods Push Up Prices

MNI: PBOC Sets Yuan Parity Higher At 7.1135 Tues; -1.61% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

MNI: CANADIAN APR BUILDING PERMITS +20.5% MOM

US NFIB MAY SMALL BUSINESS INDEX 90.5

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

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

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

Most of the early action is in the Pound

FOREX
  • Most of the early action has been in the Pound in G10, during the early trading European session.
  • The UK CPI beat provided some buying interest in the currency, which is up versus all G10, besides the AUD.
  • The Pound has nonetheless faded from its best levels, with the attention from most market participants turning to the FOMC later today.
  • Turnovers and volumes have been on the very low side, ahead of the Central Bank meeting, today and tomorrow.
  • There's some focus this week on Option expiry, with USDJPY 1.46bn at 113.75 for today.
  • Looking at Friday, and these may act as a magnet, although direction will be led by the CB's outcome before that day.
  • EURUSD has 2.38bn at 1.1300 for Friday's expiry, GBPUSD 1.43bn at 1.3250, and USDJPY 1.61bn at 113.75.
  • Focus on the data front front this afternoon will be on the US retail sales.
  • But all attention is on the Fed, and as mentioned in our MNI preview,:
  • The FOMC is expected to shift in a hawkish direction as it weighs rising inflation risks.
  • This shift will include a doubling of the pace of the asset purchase taper, a more aggressive rate “dot plot”, and an adjustment in the Statement language (including eliminating the word “transitory” to describe inflation).
Energy BulletsCommodities
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.