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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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Free AccessMNI EUROPEAN MARKETS ANALYSIS: ECB Expected To Cut Rates Later
MNI EUROPEAN OPEN: A$ & Local Yields Surge Following Jobs Data
New Year Trade Starts in Earnest, Tips USD Higher
- Markets have resumed trade for 2023 in earnest, with markets seeking USD from the European open onwards. This leaves the greenback among the strongest currencies in G10 early Tuesday, with the JPY similarly strong. The firmer USD Index and JPY backdrop comes despite a better session for equity futures, as the EuroStoxx50 tops mid-December resistance on the way higher.
- AUD, NZD and EUR are among the poorest performers, with AUD/USD below the Dec29 low to near the 50-dma of 0.6662. Weakness through here opens 0.6629 and levels not seen since mid-November. Similarly, NZD/USD is through the 200-dma of 0.6232 to near first support of 0.6156.
- Regional Germany CPI releases continue, with the national inflation figure due at 1300GMT. Inflation is seen slowing to 10.2% for the Y/Y EU-harmonized release. There are no central bank speakers of note across G10, with the FOMC minutes from their December meeting not due until Wednesday.
To read the full story
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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.