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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 specs on USD fell by 10.6K to 131.7K total contracts in the week ended February 1st, their lowest level since September.
- Interest for the Dollar has been falling in recent weeks despite investors pricing in a hawkish pivot by the Fed; more than 5 hikes are now priced in for 2022 according to the futures market.
- Net long specs on the US Dollar are down by over 160K contracts since their high of 294.5K reached in the end of November 2021.
- DXY index has been retracing lower since the start of the month after reaching a local high at 97.44 on January 28.
- The index found support at its 100DMA (95.2170) on Friday following an unexpected strong NFP print, which came in nearly four times above analysts’ expectations.
- Next support to watch below the 100DMA stands at 95. On the topside, ST resistance to watch stands at 95.70, followed by psychological 96 level.
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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