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

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

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

Pares Recent Gains, Clings to $1.1800

EURO-DOLLAR
MNI (London)
  • Corrective pullback off Wednesday's high of $1.1881 extended through Thursday's session to $1.1812, settling around $1.1820 into the close(above key 55-dma, current $1.1796).
  • A paring of recent USD losses was seen providing the main drive though seen mainly corrective whilst rate holds within recent ranges.
  • A steady open in Asia before rate dropped through $1.1800 to $1.1787 during the Trump-Biden debate. Biden remains ahead in post debate polls. No advance in US fiscal talks also acted to lift the USD.
  • Rate recovered to hold within a tight range around $1.1800 through to the European open.
  • Support seen into $1.1785/80 ahead of $1.1760/50. Resistance $1.1820/25, ahead of $1.1850/60.
  • Data focus this morning on release of flash PMI's in France, Germany and EZ. Attention on next week's ECB meeting.
  • Option expiries of note $1.1750-55(E1.3bln), $1.1800(E2.0bln), $1.1830-50(E2.0bln),
  • MNI Techs: EURUSD maintains a positive tone. This week's bullish theme reinforced by the break of the former bull trigger at 1.1831, Oct 9 high. Breach signals scope for an extension toward 1.1917, Fibonacci retracement, with
    major resistance and hurdle for bulls at 1.2011, Sep 1 high. Initial firm support lies at 1.1760, Tuesday's low.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
BulletMarketsForeign 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.