Free Trial

Risk gained a boost in Asia as traders........>

FOREX
MNI (London)
FOREX: Risk gained a boost in Asia as traders reacted to headline that Vice
Commerce Minister Wang Shouwen will travel to the US for trade talks in late
August, MOFCOM said at the request of the US. USD/JPY spiked up to Y110.93, the
improved risk outlook also lifted EUR/USD to $1.1391, helping it to extend away
from Wednesday's low of $1.1301. Asian traders warn that market may be too
optimistic on this headline, vice Commerce Minister seen low key. CNY fix came
in below expected range of Cny6.8995-6.9095 at Cny6.8946. CNH funding 'blew up'
as 1-yr swap jumped from +360 to +630 on suspected official help, drove USD/CNH
through Cnh6.90 to Cnh6.8812. 
- Chinese headline kept AUD buoyed despite mixed Australian jobs data,
unemployment improved to 5.3% from 5.4% but jobs fell 3.9k vs forecast +15k.
AUDUSD edged above $0.7270, remained firm into Europe, expected to meet decent
resistance at and above $0.7300. 
- UK Retail Sales at 0830GMT, analysts looking for a pick up following a weak
June. MNI median flat mm vs -0.5% last. Cable has a stand out large option
expiry at $1.2700 for today's NY cut, Gbp1.74bn, Gbp1.69bn sterling puts. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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.