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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 have been rising in recent weeks, increasing by 19K to a total of 136.4K contracts in the week ended March 29, their highest level since January.
- It was surprising to see that the positioning of speculative investors fell during most of the first quarter despite the surge in geopolitical uncertainty and the dollar appreciation.
- Momentum on the US Dollar has paused in the past month, with the DXY index oscillating between 97.70 and 99.42.
- A break above the 99.40 resistance would open the door for a move up to 99.73, which represents the 76.4% Fibo retracement of the 89.21 – 102.98 range.
- On the downside, support below 97.70 (61.8% Fibo) stands at 97.3170 (50DMA).
- On Friday, economic data showed that March NFP came in below expectations at 431K (vs. 490K exp.), the lowest jobs increase since last September, while wages came in ‘hot’ (+5.6% YoY increase vs. 5.5% exp.).
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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