MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Persistent Upside in US Yields Tilts Markets Back to Dollars

FOREX
  • JPY is firmer headed through the NY crossover, with USD also clawing back some modest losses posted on Tuesday. Risk aversion prevails, with cash equities across Europe all sitting lower.
  • Rates markets are again the key driver, with US yields again hitting new highs ahead of the NY crossover and putting the 10y yield above 4.00% to underpin the greenback across Asia-Pac and European hours.
  • GBP volatility continues amid mixed reports that the newly-installed Chancellor Kwarteng is meeting again with key banking figures and could ask firms not to short GBP - a headline that was met with GBP/USD weakness and keeps the pair within range of the overnight lows at 1.0632.
  • NOK is among the worst performers in G10 as the Norwegian government look to increase their tax take from a number of key natural resource industries and as the risk-off backdrop shakes high Beta currencies. EUR/NOK is now within range of key resistance at 10.4502 - the mid-June highs. Clearance here would be the highest level since 2021.
  • Focus turns to advance trade balance data and pending home sales numbers from the US. The Fed speaker schedule is very busy, with appearances from Bullard, Bostic, Bowman, Barkin, Evans as well as the Fed chair Powell.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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.