RBA SAYS SOME UPSIDE INFLATION RISKS HAVE EASED.

MNI: RBA LEAVES CASH RATE AT 4.35%

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1896 Tues; -1.71% Y/Y

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

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

Price Action Shallow, With USD a Touch Firmer Pre-GDP

FOREX
  • The greenback is on the front foot early Thursday, rising against most others in G10. Market moves are shallow so far, keeping prices well within recent ranges. A more constructive equity market backdrop has shored up USD/JPY, which is posting a near 100 pip recovery off the overnight lows. The Y130.00 handle marks the next hurdle for the pair, and a break above opens progress toward the 130.78 20-day EMA.
  • NOK sits on top of the G10 pile, benefiting from firmer energy prices (WTI and Brent trade higher by 0.5% apiece). USD/NOK holds below 9.90 and the bearish developments across moving averages are continuing to add weight. Earlier this week, the 50-dma slipped below the 200-dma to form a death cross for the first time since the onset of the COVID pandemic in 2020.
  • Advanced Q4 GDP from the US takes focus going forward, with the annualized quarterly figure seen clocking in at 2.6% - below the prior quarter's 3.2% clip. Weekly US jobless claims data and December new home sales make up the rest of the calendar. With the Fed remaining inside the pre-meeting media blackout period, the speaker slate is light Thursday.
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.