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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.
FOREX
- Net long specs on the US Dollar decreased in the week ended June 28, down 35.2K to a total of 213.3K contracts.
- Risk off sentiment amid elevated geopolitical uncertainty combined with the ‘hawkish’ Fed keep pushing the US Dollar higher against major crosses.
- The DXY index has been trending higher in the past week after finding support slightly below the 104 level.
- Momentum on the greenback remains broadly bullish despite trading close to a 20Y high as recession fears have been surging, particularly in Europe.
- First resistance to watch on the topside stands at 105.7880 (June 17 high), followed by 106.
- On the downside, key support to watch stands at 104.
Source: Bloomberg/MNI
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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