Free Trial

Recovery off Tuesday's low of $1.2335...>

MNI (London)
EURO-DOLLAR: Recovery off Tuesday's low of $1.2335 touched a high in NY of
$1.2454 before it drifted back to $1.2384 ahead of the close. Usd came under
pressure again in Asia, traders said to have reacted to Trump's State of the
Union Address as no mention of 'strong dollar' and little on trade. Rate
recovered to $1.2438 ahead of Europe, the new session taking over the baton to
take it on to $1.2450. Month-end models widely suggest Usd sales to be seen at
the today's fixes and expected to keep Eur/Usd buoyed. Also of note the large
option expiry at $1.2500 for today's NY cut, E3.62bn, which could act to attract
the rate higher with talk of linked offers placed at and above $1.2480. Support
seen back at $1.2400($1.2400/04 expiries E1.5bn).
* EZ Flash CPI provides main focus this morning, median CPI 1.2%yy, Core 1.0%yy.
* US ADP 1415GMT ahead of Friday's US NFP/AHE. 
* Fed Yellen's last FOMC 1900GMT. No change widely expected but pointers toward
a March hike in focus.  
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

To read the full story

Why Subscribe to


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.