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Why MNI
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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.
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Free AccessPersonal income/spending to show extent of....>
FOREX: Personal income/spending to show extent of April consumption crunch
- GBP/USD crested to touch $1.2358 overnight before retreating and European
markets have been happy to add further weight. GBP is the poorest performer in
G10 so far, with EUR/GBP one of the more notable movers. EUR/GBP is nearing
Gbp0.9050 and a rally above here opens Fib retracement at 0.9086 and the best
levels for the cross since late March.
- Equities are generally lower in Europe, with the main indices down just over
1% at pixel time. US futures are down a similar margin, but the e-mini S&P
remains well above 3,000. Despite the pullback in equities, EUR is benefiting,
with EUR/USD narrowing the gap with key resistance at $1.1163, the late-March
high. EUR is one of the best performers in G10 so far, with SEK just
outperforming.
- Further US data draws interest Friday, with April trade balance, personal
income/spending and MNI Chicago Business Barometer. Canadian GDP for March also
crosses. Fed chair Powell is due to speak as part of a moderated discussion at
1600ET/1300ET.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.