MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

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 Signal Summary - EURUSD Bounce Extends

OUTLOOK
  • In FX, the latest recovery in EURUSD concludes the recent six-session losing streak and the pair is moving higher today. The recent move down is considered corrective, however, price has traded through the 20-day EMA and this continues to signal scope for a deeper retracement, potentially towards the 50-day EMA at 1.0972. First resistance is at 1.1147 (pierced), the Jul 24 high. A clear break would expose 1.1229, the Jul 20 high.
  • GBPUSD has traded higher today as the pair extends this week’s recovery. The move lower that started Jul 14, appears to be a correction. However, this bear cycle remains in play and short-term signals continue to highlight a bearish threat. A resumption of weakness would expose the 50-day EMA at 1.2734. The base of the bull channel, drawn from the Mar 8 low and a key support, crosses at 1.2702. First resistance is at 1.3011, 61.8% retracement of the Jul 14 - 20 bear leg.
  • This week’s move lower in USDJPY appears to be a correction. The recent breach of both the 20- and 50-day EMAs, has strengthened a short-term bullish condition. This signals scope for a climb towards 142.08, 61.8% of the early July downleg. A break would open 143.22, the 76.4% retracement point. Initial support to watch lies at 139.11, the Jul 20 low.
Homepagemarkets-real-timeBulletMarketsFixed 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.