RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: SNB CUTS KEY POLICY RATE BY 50 BPS TO 0.5%

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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

OUTLOOK: Price Signal Summary - Cable Tests Support At The 20-Day EMA

OUTLOOK
  • In FX, EURUSD traded in a volatile manner Friday and the pair has started today’s session on a bearish note, trading lower. For now, a bullish theme is intact, following last week’s recovery. Note too that moving average studies are in a bull-mode position, highlighting an uptrend. A resumption of gains would open 1.1202, the Aug 26 high and bull trigger. The 20-day EMA has been breached, again. The next key support to watch lies at 1.1026, the Sep 3 low.
  • Friday’s gains in GBPUSD proved short-lived and the pair is trading lower today. Short-term weakness is considered corrective, however, the pair is testing support at 1.3075, the 20-day EMA. A clear break of this average would signal scope for a deeper retracement, potentially towards the 50-day EMA, at 1.2951. For bulls, a reversal higher would refocus attention on key short-term resistance at 1.3266, the Aug 27 high and bull trigger.
  • A bearish theme in USDJPY remains intact, despite today’s intraday gains. Last week’s move lower reinforces a bear theme and sights are on key support at 141.70, the Aug 5 low. Clearance of this level would confirm a resumption of the downtrend and open 140.82, the Jan 2 low. A firm resistance is seen around the 20-day EMA, at 145.78 today. For bulls, a clear break of this average would signal scope for a stronger correction.
BulletMarketsFixed Income BulletsForeign Exchange Bullets

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.