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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.
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Free AccessPrice Swings Retracing
A quiet start to the Asia-Pac session on Friday, after some wild price swings earlier in the week. The greenback has pushed slightly higher, reversing some of the post-FOMC weakness.
- AUD and NZD under pressure, AUD seeing extra downside as retail sales data unexpectedly falls below estimates.
- USD/JPY took a hit Thursday as the Nikkei reported that the BoJ could widen its target yield band to +/-0.25% & remove its Y6tn ETF purchase target, but resultant weakness more than dissipated into the London morning, Data today has showed CPI falling 0.4% in February, in line with estimates. USD/JPY higher on the session as USD sees a bid.
- PBOC fixed USD/CNY at 6.5098, just 1 pip above sell side estimates. Offshore yuan is weaker, USD/CNH breaking through yesterday's high, last at 6.5164. Early signs from the US-China summit are not encouraging with both sides choosing to apportion blame in opening remarks.
- GBP/USD coming under some pressure too, approaching yesterday's low at 1.3898, despite GfK consumer confidence rising to -16, the highest since the start of lockdown.
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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.