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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.
FOREX
- The widespread pressure across equity markets continues to permeate through to G10 FX, with the greenback seeing a strong recovery over the course of the US session. The USD index now resides up 0.9% on the day as hawkish central bank rhetoric continues to dampen risk sentiment.
- Despite a hawkish ECB president Lagarde, EURUSD briefly made new session lows below 1.0600, after reaching fresh six-month highs during the press conference at 1,0735.
- Losses are broad based across G10, however, underperformance for commodities and in particular metals is significantly weighing on AUD, which has plummeted over 2.5%.
- Despite overall bullish trend conditions the pair has broken initial support at 0.6731, the 20-day EMA and is now approaching the key support level of 0.6657, the 50-day EMA. A clear break of this average would highlight a possible reversal and signal scope for a deeper retracement.
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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