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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 AccessMNI ASIA OPEN: Nov Job Gains, Fed Blackout, CPI/PPI Ahead
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MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Risk came under further pressure in.....>
EURO-DOLLAR: Risk came under further pressure in opening Asia trade as US
Treasury designated China as a currency manipulator. This announcement acted to
push USDCNH higher, dropped USD/JPY to an extended low of Y105.52 which in turn
edged EUR/USD up to $1.1250, after it triggered reported stops through $1.1240.
PBOC announced sale of Cny30bln of bills in HK, then fixed Cny at 6.9683 (after
rate had pushed above Cny7.00), which pressed USD/CNH lower and in the process
provided some relief for risk. USD/JPY, having met decent support into Y105.50,
bounced back, eventually pushing on to Y107.09 as shorts were squeezed. This
recovery pressed back on EUR/USD, marked a fresh intraday low of $1.1190 before
it settled back above $1.1200 into Europe. What has been referred to as a
Sino-US trade spat has now escalated, trade war being mentioned in many reports.
- Support $1.1190/85, $1.1165/60 ahead of $1.1150. Resistance $1.1250.
- Germany Factory orders at 0600GMT provides early interest.
To read the full story
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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.