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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI US MARKETS ANALYSIS - CAD Slips as Trump Looks to Tariffs
MNI China Daily Summary: Tuesday, November 26
MNI BRiEF: Riksbank Puts Neutral Rate In 1.5 To 3.0% Range
Negative Brexit Comments But Some Trade Deal Optimism Remains.
- Negative fall out from Wednesday's PM Johnson/EC vdLeyen dinner led to coming GBP under pressure through Thursday trade, GBP/USD extended its corrective pull back from its pre dinner high of $1.3478 to $1.3246 into NY.
- Rate recovered to $1.3320 before it settled around $1.3300 into the close following a volatile NY session.
- PM Johnson warning that there was 'a strong possibility UK and EU would fail to safeguard free trade past the end of the year' only saw minor reaction though it did act to counter GBP gains vs the USD as the latter came under pressure through Asia.
- GBP/USD managed to nudge up to $1.3324, holding firm in Europe.
- Considering the negative comments GBP continues to enjoy some optimistic buoyancy, market viewing noise from the UK side as a negotiating ploy, while any move away from talks by the EU side would be seen as a major negative factor.
- BOE Financial Stability Report released at 0700GMT and provides early focus but Brexit headlines into the weekend (latest 'deadline' set for Sunday) remain key for GBP direction.
- EUR strength and USD weakness also seen aiding GBP/USD's current buoyancy.
- MNI Techs: GBPUSD traded weaker Thursday and conditions remain volatile. A bearish threat is also still present following the recent sell-off from 1.3539, Dec 4 high. Further weakness would expose 1.3196, Nov 19 low and 1.3191 the 50-day EMA. Cable did however trade above Monday's high of 1.3437 Wednesday, partially offsetting a bearish threat. Clearance of 1.3539, Dec 4 high is required to reinstate bullish conditions. Volatile.
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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.