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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 AccessNOK on Top as Crude Rally Extends
The near 30% rally in crude oil prices across November continues to lend support to commodity-tied currencies, with NOK outperforming again Wednesday. This keeps USD/NOK on track to test the early September lows of 8.6570, which would be the lowest rate since mid-2019.
The greenback came under some fix-related selling pressure despite starting the US session well. This kept a lid on the greenback, which underperformed all others in G10.
Brexit negotiations clearly remain fractious, with no signs of a deal emerging as yet. Markets continue to price for a favourable outcome in the talks that continue this week, raising interest in a suggestion from the Irish PM, who suggested a deal could be agreed on a "staged" basis in an attempt to find common ground. GBP/USD, while stronger, failed to reach new weekly highs.
Tier one data releases are few and far between Thursday, with US markets close for the Thanksgiving holidays. ECB's Schnabel & Lane and BoC's Macklem & Wilkins are due to speak.
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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.