BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

New Home Sales Activity And Prices Continue To Cool

US EIA: CRUDE OIL STOCKS EX SPR -3.74M TO 436.5M JUL 19 WK

Services PMI Gains Continue To Diverge From Soft Manufacturing

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

NZD Remains Poorest Performer, DXY Unchanged Ahead Of NFP

FOREX
  • Despite the firmer sentiment across equity markets through the US session on Thursday, antipodean currencies have consolidated earlier losses. This sees NZD as the weakest in G10, declining 1% against the greenback amid a slightly weaker commodity complex. Despite the sharp drop, price remains around 50 pips shy of the weekly lows at 0.6208.
  • In similar vein, AUDUSD is 0.6% lower as iron ore prices continue their slide to around 6% on the week.
  • Overall, the USD index remains just south of unchanged as we approach tomorrow’s non-farm payrolls. The single currency has outperformed and has prompted EURUSD to regain some ground back above the 1.09 handle.
  • With 1.0930 marking a key short-term hurdle for EURUSD bulls a sustained break would reinstate the recent bull theme and signal scope for a move to 1.1033, the Feb 2 high.
  • USDJPY maintained an upward bias, edging around 1% higher from the overnight 130.78 lows but remains comfortably below the pre-JOLTS data levels of 132.70.
  • For tomorrow’s data, Bloomberg consensus looks for still solid nonfarm payrolls growth of 230k in March as it falls back to closer to December’s pace with a return of more typical weather. However, actual expectations might be a little lower now after a recent string of weak data labour indicators.
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.