FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NOK On Top as Month-End Flows Support

FOREX

USD/NOK broke through the December 2019 lows late Monday as month-end flows buoyed the NOK to pressure USD/NOK to the lowest level since July of last year.

Having strengthened sharply on the resignation of the Japanese PM Abe early on Friday, JPY has partially reversed those gains throughout the Monday session, with USD/JPY rising back above the Y106.00 handle ahead of the close. The 50-dma remains first resistance at Y106.50.

UK markets were closed Monday for the August bank holiday, keeping volumes and price action generally muted, but there were some hotspots of activity including the firmer NOK, but also CNY, CHF and AUD.

Implied vols inched higher despite more muted spot markets, with the likes of USD/CHF 1m implied vols particularly strong as the cross approaches breakout territory.

Focus Tuesday turns to final global manufacturing PMI data, the RBA rate decision (rates expected unch. at 0.25%) and the Manufacturing ISM data from the US. As usual, the employment component will take plenty of focus ahead of Friday's August nonfarm payrolls report. Fed's Brainard and ECB's Knot are both due to speak.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.